Value You Can Measure
Verplanck homeowners have many good reasons to replace their windows. Upgrading broken windows, revamping the look and feel of your home etc… Other such benefits can be calculated quite explicitly.
Firstly, 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.
In terms of energy savings, houses in Verplanck, are likely to notice considerable declines on weekly costs for electricity. If you already have dual pane windows you may save approximately $205.88 compared to $174 in Buffalo. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $654.46 per year, compared to $452 in Buffalo.
Increase your Verplanck Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could 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 evaluate : What’s the premium for energy savings if you sell your home? This is what we estimated in Verplanck:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Verplanck, your home value could increase by between $1235.3 and $1807.66 for a mid-tier or top-tier Verplanck home respectively. For comparison, the same replacement in Buffalo could add somewhere between $1044 and $1527.72.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Verplanck homeowners may yield an estimated home value increase of between $3926.77 for mid-tier homes and $5746.18 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
In other words, a window upgrade in Verplanck can add anywhere from 0.39% percent and 1.8 % percent to the sale 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 Verplanck homeowner is relatively clear.
The variation between the range for Verplanck and Buffalo, which for reference, would yield a potential premium range of 0.33% percent and 0.48% percent respectively, is derived from a number of factors, notably; the 2.04% 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 price differences between Verplanck and Buffalo.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research performed by the NAHB. Verplanck home value data is provided by Zillow.
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