Savings Category: Replacement Window Savings

Description

Value You Can Measure

Wilmington residents have plenty strong reasons to change their windows. Updating old windows, changing the decor of your home etc… Certain such benefits can be counted rather clearly.

To start, 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, people living in Wilmington, should experience dramatic declines on weekly expenditures for energy. If you already have dual pane windows you could save about $190.47 compared to $174 in Buffalo. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $556.61 annually, compared to $452 in Buffalo.

Grow your Wilmington Home’s Value through Energy Savings

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Switching your windows to EnergyStar rated National Vinyl windows could 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 ascertain : What’s the ROI on energy savings if you sell your home? The following is what we found in Wilmington:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Wilmington, your home value could increase by between $1142.84 and $1672.36 for a mid-tier or top-tier Wilmington home respectively. For comparison, the same replacement 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. Wilmington homeowners could see an estimated home value gain of between $3339.64 for mid-tier homes and $4887.01 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.

In other words, a window investment in Wilmington can add anywhere from 0.53% percent and 2.27 % percent to the value of your home through 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 Wilmington homeowner is quite strong.

The variation between the range for Wilmington and Buffalo, which for reference, would yield a potential premium range of 0.49% percent and 0.71% percent respectively, is dependent on a number of factors, especially; the 1.05% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the region, and energy cost differences between Wilmington and Buffalo.

The data presented is derived from EnergyStar, the NREL,Department of Energy and professional research executed by the National Association of Homebuilders. Wilmington home value data is provided by Zillow.

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Energy Savings & ROI: Wilmington vs the rest of New York

Find out how investing in new windows in Wilmington compares to other nearby New York cities.