Description
Value You Can Measure
Bound Brook homeowners have plenty good reasons to change their windows. Repairing damaged windows, refining the decor of your home etc… Other such features can be counted rather precisely.
To start, 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.
In terms of energy savings, residents of Bound Brook, will most probably have impressive savings on weekly bill for home energy. If you already have dual pane windows you may save approximately $114.05 compared to $100 in Atlantic City. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $368.09 annually, compared to $274 in Atlantic City.
Build your Bound Brook Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows may 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 figure out : What’s the premium for energy savings if you put your house up for sale? This is what we uncovered in Bound Brook:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Bound Brook, your home value could increase by between $684.29 and $1001.34 for a mid-tier or top-tier Bound Brook home respectively. Compare this to, the same upgrade in Atlantic City may get you somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Bound Brook homeowners could see an estimated home value gain of between $2208.55 for mid-tier homes and $3231.84 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Put differently, a window investment in Bound Brook can add anywhere from 0.23% percent and 1.1 % 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 worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Bound Brook homeowner is quite clear.
The variation between the range for Bound Brook and Atlantic City, which for reference, would yield a potential premium range of 0.2% percent and 0.3% percent respectively, is dependent on a number of factors, primarily; the 1.56% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy cost differences between Bound Brook and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research done by the NAHB. Bound Brook 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: Bound Brook vs the rest of New Jersey
Find out how investing in new windows in Bound Brook compares to other nearby New Jersey cities.