Savings Category: Replacement Window Savings

Description

Value You Can Measure

Riverhead homeowners have many good reasons to change their windows. Updating damaged windows, refining the style of your home etc… Some such features may be quantified relatively explicitly.

For starters, windows maintain 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 Riverhead, should notice major savings on daily expenditures for heating & cooling. If you already have dual pane windows you may save around $224.56 compared to $174 in Buffalo. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $773.04 every year, compared to $452 in Buffalo.

Increase your Riverhead Home’s Asking Price through Energy Savings

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Replacing your windows to EnergyStar rated National Vinyl windows may 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.

Moreover, many buyers are willing to pay a premium for energy savings. Here we try to evaluate : What’s the premium for energy savings when selling the house? Below is what we uncovered in Riverhead:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Riverhead, your home value could increase by around $1347.35 and $1971.62 for a mid-tier or top-tier Riverhead home respectively. For comparison, the same upgrade in Buffalo may get you somewhere between $1044 and $1527.72.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Riverhead homeowners may expect an estimated home value gain of between $4638.26 for mid-tier homes and $6787.33 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.

In other words, a window investment in Riverhead can add between 0.3% percent and 1.53 % 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 worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Riverhead homeowner is quite strong.

The variation between the range for Riverhead and Buffalo, which for reference, would yield a potential premium range of 0.24% percent and 0.34% percent respectively, is dependent on a number of factors, notably; the 3.23% 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 Riverhead and Buffalo.

The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research conducted by the NAHB. Riverhead home value data is provided by Zillow.

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Energy Savings & ROI: Riverhead vs the rest of New York

Find out how investing in new windows in Riverhead compares to other nearby New York cities.