Savings Category: Replacement Window Savings

Description

Value You Can Measure

Schenectady residents have a multitude valid reasons to upgrade their windows. Updating damaged windows, renewing the design of your home etc… Other such values should be quantified relatively explicitly.

To start, windows retain 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.

With regards to energy savings, people living in Schenectady, can expect to notice impressive reductions on annual spending for energy. If you already have dual pane windows you may save about $187.68 compared to $174 in Buffalo. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $538.88 annually, compared to $452 in Buffalo.

Increase your Schenectady Home’s Resale Price through Energy Savings

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Upgrading 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 uncover : What’s the return on energy savings when it comes time to sell? Below is what we discovered in Schenectady:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Schenectady, your home value could increase by between $1126.09 and $1647.84 for a mid-tier or top-tier Schenectady home respectively. Compare this to, the same upgrade 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. Schenectady homeowners may see an estimated home value increase of between $3233.25 for mid-tier homes and $4731.32 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.

Put differently, a window investment in Schenectady can add between 0.57% percent and 2.41 % percent to the asking price of your home by way of 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 Schenectady homeowner is relatively strong.

The variation between the range for Schenectady and Buffalo, which for reference, would yield a potential premium range of 0.53% percent and 0.78% percent respectively, is derived from a number of factors, especially; the 0.87% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Albany-Schenectady-Troy region, and energy price differences between Schenectady and Buffalo.

The data presented is based on EnergyStar, the NREL,Department of Energy and extensive research done by the National Association of Homebuilders. Schenectady home value data is provided by Zillow.

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