Description
Value You Can Measure
Clarks Green homeowners have countless valid reasons to change their windows. Upgrading leaky windows, improving the look and feel of your home etc… Certain such values may be counted relatively accurately.
Firstly, windows preserve 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.
In terms of energy savings, residents of Clarks Green, will most probably have significant savings on annual costs for energy. If you already have dual pane windows you may save approximately $118.2 compared to $116 in Philadelphia. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $307.6 annually, compared to $294 in Philadelphia.
Improve your Clarks Green Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to determine : What’s the return on investment on energy savings on the market? Below is what we uncovered in Clarks Green:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Clarks Green, your home value could increase by between $709.18 and $1037.76 for a mid-tier or top-tier Clarks Green home respectively. Compare this to, the same replacement in Philadelphia could yield somewhere between $696 and $1018.48.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Clarks Green homeowners may yield an estimated home value gain of between $1845.63 for mid-tier homes and $2700.77 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
Another way to look at it, a window investment in Clarks Green can add between 0.32% percent and 1.21 % percent to the value of your home via 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 Clarks Green homeowner is quite clear.
The variation between the range for Clarks Green and Philadelphia, which for reference, would yield a potential premium range of 0.31% percent and 0.45% percent respectively, is derived from a number of factors, particularly; the 0.21% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Scranton–Wilkes-Barre–Hazleton region, and heating & cooling cost differences between Clarks Green and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research done by the National Association of Homebuilders. Clarks Green 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: Clarks Green vs the rest of Pennsylvania
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