Description
Value You Can Measure
South River homeowners have many valid reasons to upgrade their windows. Updating damaged windows, revamping the style of your home etc… Some such benefits may be quantified rather precisely.
First of all, windows retain 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.
As for energy savings, homes in South River, may notice impressive drops on annual costs for heating & cooling. If you already have dual pane windows you may save approximately $114.33 compared to $100 in Atlantic City. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $370 every year, compared to $274 in Atlantic City.
Build your South River Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can 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.
Moreover, 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? Here is what we discovered in South River:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in South River, your home value could increase by between $686 and $1003.85 for a mid-tier or top-tier South River home respectively. Compare this to, the same replacement in Atlantic City may get you somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. South River homeowners may expect an estimated home value increase of between $2220.02 for mid-tier homes and $3248.63 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Another way to look at it, a window investment in South River can add anywhere from 0.23% percent and 1.09 % percent to the asking 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 South River homeowner is quite strong.
The variation between the range for South River and Atlantic City, which for reference, would yield a potential premium range of 0.2% percent and 0.3% percent respectively, is dependent on a number of factors, primarily; the 1.59% percent difference in median home prices, a buyers’ willingness 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 South River and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research conducted by the National Association of Homebuilders. South River 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: South River vs the rest of New Jersey
Find out how investing in new windows in South River compares to other nearby New Jersey cities.