Savings Category: Replacement Window Savings

Description

Value You Can Measure

Liberty homeowners have a variety good reasons to upgrade their windows. Fixing leaky windows, changing the look and feel of your home etc… Some such features should be measured relatively accurately.

To begin with, windows retain 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.

As for energy savings, homes in Liberty, should have dramatic decreases on daily expenditures for home energy. If you already have dual pane windows you could save around $174.54 compared to $174 in Buffalo. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $455.42 per year, compared to $452 in Buffalo.

Increase your Liberty Home’s Resale Price through Energy Savings

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Switching your windows to EnergyStar rated National Vinyl windows could add to 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 evaluate : What’s the ROI on energy savings when selling the house? Here is what we uncovered in Liberty:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Liberty, your home value could increase by around $872.69 and $1160.68 for a mid-tier or top-tier Liberty home respectively. For comparison, the same upgrade in Buffalo could yield somewhere between $870 and $1157.1.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Liberty homeowners may see an estimated home value increase of between $2277.11 for mid-tier homes and $3028.56 for the top tier. Compare this to between $2260 and $3005.8 in Buffalo.

Another way to look at it, a window upgrade in Liberty can add between 0.8% percent and 2.79 % percent to the asking 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 worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Liberty homeowner is quite strong.

The variation between the range for Liberty and Buffalo, which for reference, would yield a potential premium range of 0.8% percent and 1.07% percent respectively, is dependent on a number of factors, in particular; the 0.03% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the region, and heating & cooling cost differences between Liberty and Buffalo.

The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research executed by the NAHB. Liberty home value data is provided by Zillow.

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

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