Description
Value You Can Measure
Bowmanstown homeowners have a multitude good reasons to upgrade their windows. Repairing old windows, improving the aesthetics of your home etc… Other such features may be calculated rather explicitly.
Firstly, 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.
As for energy savings, homes in Bowmanstown, should have major drops on daily bill for electricity. If you already have dual pane windows you may save approximately $112.58 compared to $116 in Philadelphia. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $272.81 every year, compared to $294 in Philadelphia.
Grow your Bowmanstown Home’s Value 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 find out : What’s the premium for energy savings if you put your house up for sale? This is what we found in Bowmanstown:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Bowmanstown, your home value could increase by around $562.9 and $748.65 for a mid-tier or top-tier Bowmanstown 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. Bowmanstown homeowners may see an estimated home value gain of between $1364.03 for mid-tier homes and $1814.16 for the top tier. Compare this to between $1470 and $1955.1 in Philadelphia.
Another way to look at it, a window upgrade in Bowmanstown can add anywhere from 0.45% percent and 1.46 % 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 upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Bowmanstown homeowner is quite clear.
The variation between the range for Bowmanstown and Philadelphia, which for reference, would yield a potential premium range of 0.47% percent and 0.62% percent respectively, can be estimated from a number of factors, notably; the -0.33% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Allentown-Bethlehem-Easton region, and heating & cooling cost differences between Bowmanstown and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research conducted by the National Association of Homebuilders. Bowmanstown 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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