Description
Value You Can Measure
Kinnelon property owners have a variety excellent reasons to change their windows. Fixing old windows, improving the aesthetics of your home etc… Some such values should be calculated rather clearly.
To begin with, 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.
As for energy savings, residents of Kinnelon, should have significant declines on daily costs for heating & cooling. If you already have dual pane windows you could save about $135.19 compared to $100 in Atlantic City. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $509.71 every year, compared to $274 in Atlantic City.
Build your Kinnelon Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may increase the asking 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 figure out : What’s the ROI on energy savings when it comes time to sell? The following is what we found in Kinnelon:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Kinnelon, your home value could increase by between $1427.63 and $1990.84 for a mid-tier or top-tier Kinnelon home respectively. Compare this to, the same replacement in Atlantic City may get you somewhere between $1056 and $1472.6.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Kinnelon homeowners could see an estimated home value gain of between $5382.54 for mid-tier homes and $7505.99 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
Put differently, a window upgrade in Kinnelon can add anywhere from 0.25% percent and 1.33 % 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 upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Kinnelon homeowner is quite clear.
The variation between the range for Kinnelon and Atlantic City, which for reference, would yield a potential premium range of 0.19% percent and 0.26% percent respectively, can be estimated from a number of factors, primarily; the 3.91% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and energy cost differences between Kinnelon and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research performed by the NAHB. Kinnelon 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: Kinnelon vs the rest of New Jersey
Find out how investing in new windows in Kinnelon compares to other nearby New Jersey cities.