Description
Value You Can Measure
Mountain Top homeowners have a whole host strong reasons to replace their windows. Upgrading leaky windows, renewing the aesthetics of your home etc… Other such features can be counted relatively clearly.
For starters, 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, people living in Mountain Top, can expect to have impressive savings on daily expenditures for electricity. If you already have dual pane windows you could save approximately $116.63 compared to $116 in Philadelphia. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $297.88 annually, compared to $294 in Philadelphia.
Build your Mountain Top Home’s Asking Price through Energy Savings
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Upgrading 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to answer the question : What’s the premium for energy savings on the market? Here is what we discovered in Mountain Top:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Mountain Top, your home value could increase by between $699.75 and $1023.97 for a mid-tier or top-tier Mountain Top home respectively. Compare this to, the same upgrade in Philadelphia could yield somewhere between $696 and $1018.48.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Mountain Top homeowners may see an estimated home value increase of between $1787.26 for mid-tier homes and $2615.36 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
Put differently, a window investment in Mountain Top can add between 0.36% percent and 1.33 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Mountain Top homeowner is relatively clear.
The variation between the range for Mountain Top and Philadelphia, which for reference, would yield a potential premium range of 0.36% percent and 0.52% percent respectively, may come from a number of factors, especially; the 0.06% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Scranton–Wilkes-Barre–Hazleton region, and heating & cooling price differences between Mountain Top and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research performed by the NAHB. Mountain Top 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: Mountain Top vs the rest of Pennsylvania
Find out how investing in new windows in Mountain Top compares to other nearby Pennsylvania cities.