Value You Can Measure
Cliffside Park residents have a multitude excellent reasons to upgrade their windows. Repairing old windows, revamping the look and feel of your home etc… Many such values may be calculated relatively exactly.
First of all, 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, people living in Cliffside Park, should experience important reductions on monthly bill for home energy. If you already have dual pane windows you may save around $131.24 compared to $100 in Atlantic City. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $483.24 every year, compared to $274 in Atlantic City.
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Grow your Cliffside Park Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to answer the question : What’s the return on energy savings when selling the house? What follows is what we discovered in Cliffside Park:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Cliffside Park, your home value could increase by around $1385.89 and $1932.64 for a mid-tier or top-tier Cliffside Park home respectively. Compare this to, the same upgrade in Atlantic City could yield somewhere between $1056 and $1472.6.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Cliffside Park homeowners may yield an estimated home value gain of between $5103 for mid-tier homes and $7116.17 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
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In other words, a window upgrade in Cliffside Park can add between 0.27% percent and 1.39 % percent to the sale price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Cliffside Park homeowner is quite strong.
The variation between the range for Cliffside Park and Atlantic City, which for reference, would yield a potential premium range of 0.21% percent and 0.29% percent respectively, can be estimated from a number of factors, principally; the 3.47% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and heating & cooling price differences between Cliffside Park and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research executed by the NAHB. Cliffside Park home value data is provided by Zillow.
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