Description
Value You Can Measure
West Hurley homeowners have many good reasons to replace their windows. Repairing old windows, renewing the decor of your home etc… Many such values can be quantified rather accurately.
First of all, 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 West Hurley, will most probably experience important drops on annual expenditures for home energy. If you already have dual pane windows you may save about $198.8 compared to $174 in Buffalo. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $609.49 per year, compared to $452 in Buffalo.
Build your West Hurley Home’s Value through Energy Savings
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Replacing 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 figure out : What’s the premium for energy savings if you put your house up for sale? The following is what we uncovered in West Hurley:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in West Hurley, your home value could increase by between $1192.81 and $1745.48 for a mid-tier or top-tier West Hurley home respectively. For comparison, 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 Hurley homeowners may see an estimated home value increase of between $3656.95 for mid-tier homes and $5351.34 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
In other words, a window upgrade in West Hurley can add anywhere from 0.44% percent and 1.97 % percent to the sale price of your home via the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a West Hurley homeowner is quite strong.
The variation between the range for West Hurley and Buffalo, which for reference, would yield a potential premium range of 0.39% percent and 0.56% percent respectively, may come from a number of factors, primarily; the 1.58% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Kingston region, and energy price differences between West Hurley and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research done by the National Association of Homebuilders. West Hurley 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: West Hurley vs the rest of New York
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