Description
Value You Can Measure
Bernardsville property owners have countless great reasons to replace their windows. Updating damaged windows, renewing the style of your home etc… Certain such features should be measured quite explicitly.
To begin with, windows preserve 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.
With regards to energy savings, residents of Bernardsville, should see important decreases on annual expenditures for energy. If you already have dual pane windows you may save around $142.07 compared to $100 in Atlantic City. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $555.81 per annum, compared to $274 in Atlantic City.
Improve your Bernardsville Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows may 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to evaluate : What’s the ROI on energy savings on the market? Here is what we estimated in Bernardsville:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Bernardsville, your home value could increase by between $1500.31 and $2092.19 for a mid-tier or top-tier Bernardsville home respectively. Compare this to, the same upgrade in Atlantic City could add somewhere between $1056 and $1472.6.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Bernardsville homeowners could see an estimated home value increase of between $5869.34 for mid-tier homes and $8184.83 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
Another way to look at it, a window investment in Bernardsville can add anywhere from 0.23% percent and 1.26 % percent to the value of your home via 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 Bernardsville homeowner is relatively strong.
The variation between the range for Bernardsville and Atlantic City, which for reference, would yield a potential premium range of 0.16% percent and 0.23% percent respectively, is derived from a number of factors, especially; the 4.67% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and heating & cooling cost differences between Bernardsville and Atlantic City.
The data presented is derived from EnergyStar, the NREL,Department of Energy and professional research performed by the NAHB. Bernardsville 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: Bernardsville vs the rest of New Jersey
Find out how investing in new windows in Bernardsville compares to other nearby New Jersey cities.