Savings Category: Replacement Window Savings

Description

Value You Can Measure

Irvington residents have countless strong reasons to change their windows. Fixing leaky windows, refining the look and feel of your home etc… Certain such benefits can be quantified rather precisely.

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

With regards to energy savings, homeowners in Irvington, are likely to have considerable declines on annual bill for electricity. If you already have dual pane windows you could save about $294.96 compared to $174 in Buffalo. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $1220.07 per year, compared to $452 in Buffalo.

Increase your Irvington Home’s Resale Price through Energy Savings

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Upgrading your windows to EnergyStar rated National Vinyl windows can increase the asking 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.

Moreover, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the return on investment on energy savings when it comes time to sell? What follows is what we uncovered in Irvington:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Irvington, your home value could increase by between $3114.75 and $4343.55 for a mid-tier or top-tier Irvington home respectively. For comparison, the same replacement in Buffalo could add somewhere between $1837.44 and $2562.32.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Irvington homeowners could yield an estimated home value gain of between $12883.98 for mid-tier homes and $17966.81 for the top tier. Compare this to between $4773.12 and $6656.15 in Buffalo.

In other words, a window investment in Irvington can add anywhere from 0.34% percent and 1.96 % percent to the value of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Irvington homeowner is relatively strong.

The variation between the range for Irvington and Buffalo, which for reference, would yield a potential premium range of 0.2% percent and 0.28% percent respectively, is dependent on a number of factors, particularly; the 7.72% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and energy cost differences between Irvington and Buffalo.

The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research performed by the NAHB. Irvington home value data is provided by Zillow.

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

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