Description
Value You Can Measure
Sharon Springs homeowners have a multitude excellent reasons to replace their windows. Repairing leaky windows, refining the aesthetics of your home etc… Certain such features may be measured quite exactly.
To begin with, 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.
In terms of energy savings, homes in Sharon Springs, will most probably have important decreases on weekly costs for electricity. If you already have dual pane windows you could save around $173.27 compared to $174 in Buffalo. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $447.37 annually, compared to $452 in Buffalo.
Build your Sharon Springs Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may 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 determine : What’s the return on energy savings if you put your house up for sale? Below is what we uncovered in Sharon Springs:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Sharon Springs, your home value could increase by around $866.36 and $1152.26 for a mid-tier or top-tier Sharon Springs 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. Sharon Springs homeowners may expect an estimated home value increase of between $2236.87 for mid-tier homes and $2975.04 for the top tier. Compare this to between $2260 and $3005.8 in Buffalo.
In other words, a window upgrade in Sharon Springs can add between 0.87% percent and 2.98 % percent to the value of your home through 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 Sharon Springs homeowner is relatively clear.
The variation between the range for Sharon Springs and Buffalo, which for reference, would yield a potential premium range of 0.87% percent and 1.16% percent respectively, may come from a number of factors, particularly; the -0.05% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Albany-Schenectady-Troy region, and heating & cooling price differences between Sharon Springs and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research performed by the NAHB. Sharon Springs 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: Sharon Springs vs the rest of New York
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