Value You Can Measure
Bath property owners have a multitude good reasons to upgrade their windows. Repairing broken windows, revamping the aesthetics of your home etc… Some such values may be measured relatively accurately.
To begin with, 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.
In terms of energy savings, residents of Bath, could experience impressive savings on annual bill for energy. If you already have dual pane windows you could save around $119.04 compared to $116 in Philadelphia. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $312.81 per year, compared to $294 in Philadelphia.
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Build your Bath Home’s Value through Energy Savings
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Replacing 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 answer the question : What’s the ROI on energy savings if you sell your home? The following is what we found in Bath:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Bath, your home value could increase by between $714.21 and $1045.13 for a mid-tier or top-tier Bath home respectively. Compare this to, the same upgrade in Philadelphia may get you somewhere between $696 and $1018.48.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Bath homeowners could yield an estimated home value gain of between $1876.83 for mid-tier homes and $2746.43 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
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Another way to look at it, a window upgrade in Bath can add anywhere from 0.3% percent and 1.15 % percent to the value 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 Bath homeowner is relatively clear.
The variation between the range for Bath and Philadelphia, which for reference, would yield a potential premium range of 0.29% percent and 0.43% percent respectively, is derived from a number of factors, especially; the 0.29% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Allentown-Bethlehem-Easton region, and energy price differences between Bath and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and incredible research performed by the National Association of Homebuilders. Bath home value data is provided by Zillow.
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