Savings Category: Replacement Window Savings

Description

Value You Can Measure

Homer property owners have plenty valid reasons to change their windows. Fixing old windows, renewing the look and feel of your home etc… Other such features may be counted rather explicitly.

First of all, windows conserve about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This puts windows among the top 5 home improvement investments in terms of value retention.

With regards to energy savings, households located in Homer, can expect to have significant decreases on weekly spending for heating & cooling. If you already have dual pane windows you may save about $180.99 compared to $174 in Buffalo. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $496.41 per annum, compared to $452 in Buffalo.

Increase your Homer Home’s Value through Energy Savings

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Switching your windows to EnergyStar rated National Vinyl windows can increase the sale price of your home. As mentioned before, windows preserve most of their initial value especially given their long life expectancy. At a rate of 72.3% estimated for 2020 an average total window replacement job costing $17,925 would preserve $13,018 of its initial value.

In addition, many buyers are willing to pay a premium for energy savings. Here we try to figure out : What’s the ROI on energy savings if you put your house up for sale? Below is what we uncovered in Homer:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Homer, your home value could increase by around $1085.97 and $1589.13 for a mid-tier or top-tier Homer home respectively. For comparison, the same replacement in Buffalo could add somewhere between $1044 and $1527.72.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Homer homeowners may see an estimated home value increase of between $2978.49 for mid-tier homes and $4358.52 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.

Put differently, a window upgrade in Homer can add anywhere from 0.72% percent and 2.87 % percent to the sale price of your home via the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Homer homeowner is relatively clear.

The variation between the range for Homer and Buffalo, which for reference, would yield a potential premium range of 0.69% percent and 1.01% percent respectively, may come from a number of factors, in particular; the 0.45% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Cortland region, and heating & cooling price differences between Homer and Buffalo.

The data presented is derived from EnergyStar, the NREL,Department of Energy and incredible research conducted by the NAHB. Homer home value data is provided by Zillow.

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Energy Savings & ROI: Homer vs the rest of New York

Find out how investing in new windows in Homer compares to other nearby New York cities.