Description
Value You Can Measure
Valley Stream property owners have a variety excellent reasons to change their windows. Updating old windows, revamping the design of your home etc… Some such benefits can be measured relatively explicitly.
Firstly, 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, homeowners in Valley Stream, can expect to have major drops on weekly costs for energy. If you already have dual pane windows you may save about $234.81 compared to $174 in Buffalo. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $838.15 per year, compared to $452 in Buffalo.
Increase your Valley Stream Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the return on investment on energy savings when it comes time to sell? What follows is what we estimated in Valley Stream:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Valley Stream, your home value could increase by around $2479.62 and $3457.85 for a mid-tier or top-tier Valley Stream home respectively. For comparison, the same upgrade in Buffalo could add somewhere between $1837.44 and $2562.32.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Valley Stream homeowners may expect an estimated home value gain of between $8850.9 for mid-tier homes and $12342.65 for the top tier. Compare this to between $4773.12 and $6656.15 in Buffalo.
Another way to look at it, a window investment in Valley Stream can add anywhere from 0.48% percent and 2.41 % percent to the sale price of your home via 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 Valley Stream homeowner is quite strong.
The variation between the range for Valley Stream and Buffalo, which for reference, would yield a potential premium range of 0.36% percent and 0.5% percent respectively, may come from a number of factors, particularly; the 3.88% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy price differences between Valley Stream and Buffalo.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research performed by the NAHB. Valley Stream 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: Valley Stream vs the rest of New York
Find out how investing in new windows in Valley Stream compares to other nearby New York cities.