Description
Value You Can Measure
Napanoch residents have plenty valid reasons to upgrade their windows. Updating broken windows, changing the aesthetics of your home etc… Some such features should be quantified rather clearly.
Firstly, 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, households located in Napanoch, can expect to have dramatic declines on monthly bill for electricity. If you already have dual pane windows you could save about $178.56 compared to $174 in Buffalo. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $480.99 per year, compared to $452 in Buffalo.
Improve your Napanoch Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the return on energy savings if you sell your home? Here is what we uncovered in Napanoch:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Napanoch, your home value could increase by between $892.82 and $1187.46 for a mid-tier or top-tier Napanoch home respectively. Compare this to, the same upgrade 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. Napanoch homeowners may see an estimated home value increase of between $2404.93 for mid-tier homes and $3198.56 for the top tier. Compare this to between $2260 and $3005.8 in Buffalo.
Put differently, a window upgrade in Napanoch can add between 0.66% percent and 2.36 % percent to the sale price of your home through 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 Napanoch homeowner is quite clear.
The variation between the range for Napanoch and Buffalo, which for reference, would yield a potential premium range of 0.64% percent and 0.85% percent respectively, can be estimated from a number of factors, primarily; the 0.29% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Kingston region, and energy price differences between Napanoch and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research done by the NAHB. Napanoch 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: Napanoch vs the rest of New York
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