Description
Value You Can Measure
New Rochelle property owners have many strong reasons to change their windows. Repairing old windows, changing the design of your home etc… Many such values should be counted 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.
In terms of energy savings, homes in New Rochelle, are likely to notice considerable declines on monthly spending for electricity. If you already have dual pane windows you may save about $257.76 compared to $174 in Buffalo. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $983.9 per annum, compared to $452 in Buffalo.
Increase your New Rochelle Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can add to the value 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 evaluate : What’s the return on investment on energy savings if you sell your home? Here is what we estimated in New Rochelle:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in New Rochelle, your home value could increase by around $2721.99 and $3795.84 for a mid-tier or top-tier New Rochelle home respectively. Compare this to, the same upgrade in Buffalo could add 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. New Rochelle homeowners may yield an estimated home value increase of between $10389.96 for mid-tier homes and $14488.88 for the top tier. Compare this to between $4773.12 and $6656.15 in Buffalo.
Put differently, a window upgrade in New Rochelle can add anywhere from 0.41% percent and 2.18 % percent to the value of your home via 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 New Rochelle homeowner is quite strong.
The variation between the range for New Rochelle and Buffalo, which for reference, would yield a potential premium range of 0.28% percent and 0.38% percent respectively, may come from a number of factors, in particular; the 5.35% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy price differences between New Rochelle and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research executed by the National Association of Homebuilders. New Rochelle 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: New Rochelle vs the rest of New York
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