Description
Value You Can Measure
Olyphant residents have a multitude great reasons to replace their windows. Upgrading old windows, changing the style of your home etc… Other such benefits may be counted rather clearly.
First of all, windows conserve about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This sets windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, households located in Olyphant, should see considerable decreases on daily costs for electricity. If you already have dual pane windows you could save around $113 compared to $116 in Philadelphia. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $275.41 annually, compared to $294 in Philadelphia.
Grow your Olyphant Home’s Value through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could 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 uncover : What’s the return on energy savings when selling the house? This is what we found in Olyphant:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Olyphant, your home value could increase by between $565 and $751.44 for a mid-tier or top-tier Olyphant home respectively. Compare this to, the same upgrade in Philadelphia may get you somewhere between $580 and $771.4.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Olyphant homeowners may expect an estimated home value gain of between $1377.04 for mid-tier homes and $1831.46 for the top tier. Compare this to between $1470 and $1955.1 in Philadelphia.
Put differently, a window upgrade in Olyphant can add anywhere from 0.43% percent and 1.39 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Olyphant homeowner is quite clear.
The variation between the range for Olyphant and Philadelphia, which for reference, would yield a potential premium range of 0.44% percent and 0.59% percent respectively, is derived from a number of factors, principally; the -0.29% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Scranton–Wilkes-Barre–Hazleton region, and energy cost differences between Olyphant and Philadelphia.
The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research executed by the NAHB. Olyphant 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: Olyphant vs the rest of Pennsylvania
Find out how investing in new windows in Olyphant compares to other nearby Pennsylvania cities.