Description
Value You Can Measure
Marathon property owners have plenty excellent reasons to change their windows. Repairing broken windows, renewing the decor of your home etc… Some such features should be calculated quite explicitly.
For starters, 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.
With regards to energy savings, homeowners in Marathon, should notice important reductions on weekly costs for heating & cooling. If you already have dual pane windows you may save around $175.93 compared to $174 in Buffalo. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $464.27 per year, compared to $452 in Buffalo.
Build your Marathon Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could add to 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 figure out : What’s the return on investment on energy savings when it comes time to sell? Here is what we discovered in Marathon:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Marathon, your home value could increase by around $879.67 and $1169.95 for a mid-tier or top-tier Marathon home respectively. For comparison, the same replacement 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. Marathon homeowners may yield an estimated home value gain of between $2321.37 for mid-tier homes and $3087.43 for the top tier. Compare this to between $2260 and $3005.8 in Buffalo.
Another way to look at it, a window upgrade in Marathon can add anywhere from 0.75% percent and 2.62 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Marathon homeowner is relatively strong.
The variation between the range for Marathon and Buffalo, which for reference, would yield a potential premium range of 0.74% percent and 0.98% percent respectively, is derived from a number of factors, notably; the 0.12% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Cortland region, and heating & cooling price differences between Marathon and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research done by the NAHB. Marathon 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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The N.O.W. program delivers Marathon inventory windows within 7 days, including application of standard extension jambs and mulling. TrustGard N.O.W. provides among the fastest turnaround times in New York, affording you the flexibility and responsiveness you need.
Energy Savings & ROI: Marathon vs the rest of New York
Find out how investing in new windows in Marathon compares to other nearby New York cities.