Value You Can Measure
Avoca homeowners have a whole host great reasons to upgrade their windows. Replacing damaged windows, renewing the aesthetics of your home etc… Other such values can be measured relatively explicitly.
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, houses in Avoca, will most probably see impressive drops on monthly expenditures for heating & cooling. If you already have dual pane windows you may save about $111.01 compared to $116 in Philadelphia. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $263.06 annually, compared to $294 in Philadelphia.
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Improve your Avoca Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could add to 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the premium for energy savings when selling the house? What follows is what we found in Avoca:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Avoca, your home value could increase by between $555.03 and $738.19 for a mid-tier or top-tier Avoca home respectively. For comparison, the same replacement in Philadelphia could add somewhere between $580 and $771.4.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Avoca homeowners may expect an estimated home value increase of between $1315.31 for mid-tier homes and $1749.36 for the top tier. Compare this to between $1470 and $1955.1 in Philadelphia.
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Put differently, a window investment in Avoca can add between 0.58% percent and 1.81 % percent to the value of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Avoca homeowner is quite clear.
The variation between the range for Avoca and Philadelphia, which for reference, would yield a potential premium range of 0.6% percent and 0.8% percent respectively, is dependent on a number of factors, especially; the -0.48% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Scranton–Wilkes-Barre–Hazleton region, and heating & cooling price differences between Avoca and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research conducted by the NAHB. Avoca home value data is provided by Zillow.
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