Description
Value You Can Measure
Port Henry residents have a whole host great reasons to replace their windows. Upgrading old windows, refining the look and feel of your home etc… Some such features may be measured relatively explicitly.
First of all, windows preserve 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.
With regards to energy savings, people living in Port Henry, could have large drops on annual spending for energy. If you already have dual pane windows you may save about $171.39 compared to $174 in Buffalo. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $435.4 per annum, compared to $452 in Buffalo.
Improve your Port Henry Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to determine : What’s the return on energy savings when selling the house? This is what we uncovered in Port Henry:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Port Henry, your home value could increase by around $856.93 and $1139.72 for a mid-tier or top-tier Port Henry home respectively. Compare this to, the same upgrade in Buffalo may get you somewhere between $870 and $1157.1.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Port Henry homeowners may see an estimated home value increase of between $2177.02 for mid-tier homes and $2895.44 for the top tier. Compare this to between $2260 and $3005.8 in Buffalo.
In other words, a window investment in Port Henry can add between 0.98% percent and 3.31 % percent to the sale price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Port Henry homeowner is quite clear.
The variation between the range for Port Henry and Buffalo, which for reference, would yield a potential premium range of 1% percent and 1.32% percent respectively, is derived from a number of factors, in particular; the -0.17% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the region, and energy cost differences between Port Henry and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research executed by the NAHB. Port Henry 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: Port Henry vs the rest of New York
Find out how investing in new windows in Port Henry compares to other nearby New York cities.