Savings Category: Replacement Window Savings

Description

Value You Can Measure

West End homeowners have many excellent reasons to replace their windows. Updating old windows, improving the decor of your home etc… Many such values can be calculated relatively precisely.

Firstly, windows conserve 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.

With regards to energy savings, residents of West End, can expect to see major declines on daily expenditures for home energy. If you already have dual pane windows you may save approximately $181.22 compared to $174 in Buffalo. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $497.86 annually, compared to $452 in Buffalo.

Build your West End Home’s Asking Price through Energy Savings

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Replacing your windows to EnergyStar rated National Vinyl windows can add to 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.

In addition, many buyers are willing to pay a premium for energy savings. Here we try to determine : What’s the return on energy savings on the market? Here is what we found in West End:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in West End, your home value could increase by between $1087.34 and $1591.14 for a mid-tier or top-tier West End home respectively. Compare this to, 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. West End homeowners could see an estimated home value gain of between $2987.18 for mid-tier homes and $4371.25 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.

In other words, a window upgrade in West End can add anywhere from 0.71% percent and 2.85 % 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 initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a West End homeowner is quite clear.

The variation between the range for West End and Buffalo, which for reference, would yield a potential premium range of 0.68% percent and 1% percent respectively, may come from a number of factors, particularly; the 0.46% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Oneonta region, and energy cost differences between West End and Buffalo.

The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research performed by the NAHB. West End home value data is provided by Zillow.

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