Description
Value You Can Measure
Lisle homeowners have countless strong reasons to upgrade their windows. Replacing old windows, changing the decor of your home etc… Other such benefits should be counted quite accurately.
For starters, windows retain about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This places windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, homes in Lisle, will most probably see large decreases on annual costs for electricity. If you already have dual pane windows you could save approximately $179.25 compared to $174 in Buffalo. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $485.35 per year, compared to $452 in Buffalo.
Build your Lisle Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could 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 uncover : What’s the return on investment on energy savings on the market? What follows is what we estimated in Lisle:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Lisle, your home value could increase by between $896.26 and $1192.02 for a mid-tier or top-tier Lisle home respectively. For comparison, the same replacement in Buffalo could add somewhere between $870 and $1157.1.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Lisle homeowners may expect an estimated home value increase of between $2426.74 for mid-tier homes and $3227.56 for the top tier. Compare this to between $2260 and $3005.8 in Buffalo.
Another way to look at it, a window investment in Lisle can add between 0.64% percent and 2.3 % 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 upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Lisle homeowner is quite clear.
The variation between the range for Lisle and Buffalo, which for reference, would yield a potential premium range of 0.62% percent and 0.83% percent respectively, is dependent on a number of factors, notably; the 0.34% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Binghamton region, and energy cost differences between Lisle and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research executed by the National Association of Homebuilders. Lisle home value data is provided by Zillow.
Data Sources & Disclaimers
Sources:
https://www.bls.gov/regions/
https://www.eia.gov/consumption/residential/data/2015/index.php?view=consumption
https://www.energy.gov/energysaver/design/windows-doors-and-skylights/update-or-replace-windows
https://www.eia.gov/consumption/residential/data/2015/index.php?view=consumption#by%20end%20uses
https://openei.org/wiki/NSTAR_Electric_Company
https://www.aceee.org/press/2018/10/aceee-2018-state-energy-efficiency
https://www.builderbooks.com/what-home-buyers-really-want–2019-edition-products-9780867187724.php?page_id=32&pid=NAH
http://eyeonhousing.org/2019/04/how-much-are-buyers-willing-to-pay-for-energy-efficiency/
https://www.builderbooks.com/what-home-buyers-really-want–2019-edition-products-9780867187731.php
https://www.remodeling.hw.net/cost-vs-value/2020/new-england/
Disclaimer: The information on our website is general in nature and is not intended as a substitute for competent legal, financial or engineering advice.
Although National Vinyl is a Member of the National Homebuilders association and TrustGard windows are the recipient of EnergyStar’s “Most Efficient”,
we wish to state clearly and unequivocally: the information provided does not consitute an endorsement by or from any third party. We make no representation as to the accuracy of the information entered by third parties.We, our directors or shareholders disclaim any liability for any damages or loss arising from your use thereof.
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Energy Savings & ROI: Lisle vs the rest of New York
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