Savings Category: Replacement Window Savings

Description

Value You Can Measure

Larchmont residents have a multitude good reasons to replace their windows. Updating broken windows, renewing the decor of your home etc… Other such benefits may be quantified relatively accurately.

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 sets windows among the top 5 home improvement investments in terms of value retention.

As for energy savings, homeowners in Larchmont, can expect to see impressive reductions on weekly expenditures for home energy. If you already have dual pane windows you may save about $323.75 compared to $174 in Buffalo. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $1402.87 annually, compared to $452 in Buffalo.

Increase your Larchmont Home’s Value through Energy Savings

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Replacing your windows to EnergyStar rated National Vinyl windows may increase the value 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 find out : What’s the return on investment on energy savings on the market? Here is what we discovered in Larchmont:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Larchmont, your home value could increase by around $4208.69 and $6665.6 for a mid-tier or top-tier Larchmont home respectively. For comparison, the same upgrade in Buffalo could yield somewhere between $2262 and $3582.49.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Larchmont homeowners could see an estimated home value gain of between $18237.36 for mid-tier homes and $28883.78 for the top tier. Compare this to between $5876 and $9306.23 in Buffalo.

Put differently, a window upgrade in Larchmont can add between 0.38% percent and 2.61 % percent to the sale price 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 Larchmont homeowner is quite clear.

The variation between the range for Larchmont and Buffalo, which for reference, would yield a potential premium range of 0.2% percent and 0.32% percent respectively, is derived from a number of factors, notably; the 9.56% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and energy cost differences between Larchmont and Buffalo.

The data presented is based on EnergyStar, the NREL,Department of Energy and expert research performed by the National Association of Homebuilders. Larchmont home value data is provided by Zillow.

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