Description
Value You Can Measure
Myers Corner residents have a variety strong reasons to replace their windows. Replacing damaged windows, refining the design of your home etc… Many such features can be quantified rather exactly.
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 puts windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, houses in Myers Corner, are likely to see large declines on monthly expenditures for home energy. If you already have dual pane windows you could save around $207.82 compared to $174 in Buffalo. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $666.74 annually, compared to $452 in Buffalo.
Improve your Myers Corner Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows may 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 uncover : What’s the ROI on energy savings if you sell your home? Below is what we estimated in Myers Corner:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Myers Corner, your home value could increase by between $1246.9 and $1824.63 for a mid-tier or top-tier Myers Corner home respectively. Compare this to, the same upgrade in Buffalo could add somewhere between $1044 and $1527.72.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Myers Corner homeowners could yield an estimated home value gain of between $4000.42 for mid-tier homes and $5853.95 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
Another way to look at it, a window upgrade in Myers Corner can add between 0.38% percent and 1.77 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Myers Corner homeowner is relatively strong.
The variation between the range for Myers Corner and Buffalo, which for reference, would yield a potential premium range of 0.32% percent and 0.46% percent respectively, is derived from a number of factors, particularly; the 2.16% 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 energy cost differences between Myers Corner and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research executed by the National Association of Homebuilders. Myers Corner 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: Myers Corner vs the rest of New York
Find out how investing in new windows in Myers Corner compares to other nearby New York cities.