Savings Category: Replacement Window Savings

Description

Value You Can Measure

Philmont residents have a variety excellent reasons to change their windows. Updating leaky windows, improving the aesthetics of your home etc… Many such benefits should be quantified rather clearly.

First of all, windows retain about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This places windows among the top 5 home improvement investments in terms of value retention.

With regards to energy savings, homeowners in Philmont, can expect to have important declines on monthly spending for electricity. If you already have dual pane windows you may save about $182.83 compared to $174 in Buffalo. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $508.08 annually, compared to $452 in Buffalo.

Improve your Philmont Home’s Asking Price through Energy Savings

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Replacing your windows to EnergyStar rated National Vinyl windows can increase 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.

In addition, many buyers are willing to pay a premium for energy savings. Here we try to evaluate : What’s the premium for energy savings when it comes time to sell? The following is what we found in Philmont:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Philmont, your home value could increase by around $1096.99 and $1605.25 for a mid-tier or top-tier Philmont home respectively. For comparison, the same replacement in Buffalo could yield somewhere between $1044 and $1527.72.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Philmont homeowners may expect an estimated home value increase of between $3048.45 for mid-tier homes and $4460.9 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.

Another way to look at it, a window upgrade in Philmont can add anywhere from 0.67% percent and 2.72 % percent to the asking price of your home via 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 Philmont homeowner is quite clear.

The variation between the range for Philmont and Buffalo, which for reference, would yield a potential premium range of 0.64% percent and 0.93% percent respectively, may come from a number of factors, primarily; the 0.56% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Hudson region, and heating & cooling cost differences between Philmont and Buffalo.

The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research conducted by the National Association of Homebuilders. Philmont home value data is provided by Zillow.

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