Value You Can Measure
Malverne homeowners have countless excellent reasons to change their windows. Fixing old windows, refining the look and feel of your home etc… Certain such values can be counted quite precisely.
Firstly, windows preserve 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 Malverne, could experience significant reductions on weekly expenditures for electricity. If you already have dual pane windows you could save around $238.76 compared to $174 in Buffalo. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $863.23 every year, compared to $452 in Buffalo.
Increase your Malverne Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to answer the question : What’s the ROI on energy savings when selling the house? Below is what we estimated in Malverne:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Malverne, your home value could increase by between $2521.31 and $3515.99 for a mid-tier or top-tier Malverne home respectively. Compare this to, the same replacement in Buffalo could yield 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. Malverne homeowners could yield an estimated home value increase of between $9115.66 for mid-tier homes and $12711.86 for the top tier. Compare this to between $4773.12 and $6656.15 in Buffalo.
In other words, a window upgrade in Malverne can add anywhere from 0.47% percent and 2.36 % percent to the asking price of your home by way of 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 Malverne homeowner is relatively clear.
The variation between the range for Malverne and Buffalo, which for reference, would yield a potential premium range of 0.34% percent and 0.48% percent respectively, is dependent on a number of factors, especially; the 4.14% 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 heating & cooling price differences between Malverne and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research performed by the National Association of Homebuilders. Malverne home value data is provided by Zillow.
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