Description
Value You Can Measure
Upper Saddle River residents have plenty great reasons to upgrade their windows. Upgrading old windows, refining the decor of your home etc… Some such values may be counted relatively clearly.
To start, windows maintain 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.
With regards to energy savings, houses in Upper Saddle River, are likely to have major decreases on daily costs for electricity. If you already have dual pane windows you may save about $154.77 compared to $100 in Atlantic City. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $640.85 per annum, compared to $274 in Atlantic City.
Improve your Upper Saddle River Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could 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 ascertain : What’s the return on investment on energy savings if you sell your home? The following is what we found in Upper Saddle River:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Upper Saddle River, your home value could increase by around $1634.39 and $2279.17 for a mid-tier or top-tier Upper Saddle River home respectively. Compare this to, the same replacement in Atlantic City could yield somewhere between $1056 and $1472.6.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Upper Saddle River homeowners may expect an estimated home value gain of between $6767.35 for mid-tier homes and $9437.12 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
Put differently, a window investment in Upper Saddle River can add anywhere from 0.2% percent and 1.16 % percent to the asking price of your home through 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 Upper Saddle River homeowner is relatively clear.
The variation between the range for Upper Saddle River and Atlantic City, which for reference, would yield a potential premium range of 0.13% percent and 0.18% percent respectively, is derived from a number of factors, particularly; the 6.09% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and heating & cooling price differences between Upper Saddle River and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research conducted by the National Association of Homebuilders. Upper Saddle 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: Upper Saddle River vs the rest of New Jersey
Find out how investing in new windows in Upper Saddle River compares to other nearby New Jersey cities.