Description
Value You Can Measure
Sea Girt property owners have a whole host great reasons to upgrade their windows. Fixing old windows, changing the decor of your home etc… Some such values should be quantified relatively clearly.
First of all, 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 Sea Girt, are likely to experience considerable savings on annual bill for electricity. If you already have dual pane windows you could save about $239.74 compared to $100 in Atlantic City. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $1209.95 per annum, compared to $274 in Atlantic City.
Improve your Sea Girt Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may increase 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 determine : What’s the ROI on energy savings when it comes time to sell? Below is what we found in Sea Girt:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Sea Girt, your home value could increase by between $3116.63 and $4936.02 for a mid-tier or top-tier Sea Girt home respectively. For comparison, the same upgrade in Atlantic City could yield somewhere between $1300 and $2058.9.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Sea Girt homeowners may yield an estimated home value increase of between $15729.39 for mid-tier homes and $24911.72 for the top tier. Compare this to between $3562 and $5641.39 in Atlantic City.
In other words, a window investment in Sea Girt can add anywhere from 0.16% percent and 1.31 % 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 value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Sea Girt homeowner is relatively clear.
The variation between the range for Sea Girt and Atlantic City, which for reference, would yield a potential premium range of 0.07% percent and 0.11% percent respectively, is dependent on a number of factors, particularly; the 15.53% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and heating & cooling price differences between Sea Girt and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research executed by the National Association of Homebuilders. Sea Girt 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: Sea Girt vs the rest of New Jersey
Find out how investing in new windows in Sea Girt compares to other nearby New Jersey cities.