Savings Category: Replacement Window Savings

Description

Value You Can Measure

Woodridge residents have plenty strong reasons to upgrade their windows. Fixing old windows, improving the decor of your home etc… Other such values may be counted quite exactly.

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, homes in Woodridge, may see large declines on monthly bill for electricity. If you already have dual pane windows you could save around $180.82 compared to $174 in Buffalo. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $495.28 every year, compared to $452 in Buffalo.

Grow your Woodridge Home’s Asking Price through Energy Savings

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Switching 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 estimate : What’s the premium for energy savings on the market? Below is what we discovered in Woodridge:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Woodridge, your home value could increase by between $1084.9 and $1587.56 for a mid-tier or top-tier Woodridge home respectively. For comparison, 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. Woodridge homeowners could yield an estimated home value gain of between $2971.68 for mid-tier homes and $4348.56 for the top tier. Compare this to between $2712 and $3968.56 in Buffalo.

In other words, a window upgrade in Woodridge can add anywhere from 0.72% percent and 2.89 % percent to the value of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Woodridge homeowner is relatively strong.

The variation between the range for Woodridge and Buffalo, which for reference, would yield a potential premium range of 0.69% percent and 1.01% percent respectively, is derived from a number of factors, primarily; the 0.44% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the region, and energy cost differences between Woodridge and Buffalo.

The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research conducted by the NAHB. Woodridge home value data is provided by Zillow.

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