Value You Can Measure
Westport homeowners have many excellent reasons to replace their windows. Upgrading damaged windows, changing the style of your home etc… Some such features can be measured rather clearly.
To start, windows maintain 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, homeowners in Westport, may experience considerable declines on daily spending for energy. If you already have dual pane windows you could save approximately $185.59 compared to $174 in Buffalo. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $525.62 per annum, compared to $452 in Buffalo.
Increase your Westport Home’s Value through Energy Savings
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Switching 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.
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 if you put your house up for sale? Below is what we found in Westport:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Westport, your home value could increase by between $1113.56 and $1629.51 for a mid-tier or top-tier Westport home respectively. Compare this to, the same upgrade in Buffalo could yield somewhere between $1044 and $1527.72.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Westport homeowners may yield an estimated home value gain of between $3153.72 for mid-tier homes and $4614.94 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.
In other words, a window investment in Westport can add between 0.61% percent and 2.53 % percent to the sale price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Westport homeowner is quite clear.
The variation between the range for Westport and Buffalo, which for reference, would yield a potential premium range of 0.57% percent and 0.84% percent respectively, is dependent on a number of factors, particularly; the 0.74% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the region, and heating & cooling price differences between Westport and Buffalo.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research conducted by the NAHB. Westport home value data is provided by Zillow.
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