Value You Can Measure
Closter residents have a variety great reasons to change their windows. Fixing leaky windows, revamping the design of your home etc… Some such values should be counted quite clearly.
First of all, windows retain 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.
As for energy savings, homes in Closter, will most probably see impressive declines on monthly expenditures for energy. If you already have dual pane windows you could save about $144.31 compared to $100 in Atlantic City. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $570.76 per year, compared to $274 in Atlantic City.
Increase your Closter Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows may increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the ROI on energy savings when it comes time to sell? What follows is what we estimated in Closter:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Closter, your home value could increase by between $1523.89 and $2125.07 for a mid-tier or top-tier Closter home respectively. For comparison, the same upgrade in Atlantic City could yield somewhere between $1056 and $1472.6.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Closter homeowners may see an estimated home value increase of between $6027.24 for mid-tier homes and $8405.04 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
In other words, a window upgrade in Closter can add between 0.22% percent and 1.24 % percent to the value of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Closter homeowner is quite strong.
The variation between the range for Closter and Atlantic City, which for reference, would yield a potential premium range of 0.16% percent and 0.22% percent respectively, is derived from a number of factors, primarily; the 4.92% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and heating & cooling cost differences between Closter and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research performed by the NAHB. Closter home value data is provided by Zillow.
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