Description
Value You Can Measure
Conyngham property owners have a multitude valid reasons to change their windows. Fixing broken windows, revamping the style of your home etc… Other such values may be quantified relatively clearly.
First of all, windows conserve 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.
As for energy savings, people living in Conyngham, are likely to see considerable declines on weekly expenditures for electricity. If you already have dual pane windows you could save approximately $115.57 compared to $116 in Philadelphia. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $291.32 per year, compared to $294 in Philadelphia.
Build your Conyngham Home’s Resale Price through Energy Savings
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Switching 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 figure out : What’s the premium for energy savings if you put your house up for sale? This is what we discovered in Conyngham:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Conyngham, your home value could increase by around $693.4 and $1014.68 for a mid-tier or top-tier Conyngham 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. Conyngham homeowners could expect an estimated home value gain of between $1747.9 for mid-tier homes and $2557.76 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
Put differently, a window upgrade in Conyngham can add anywhere from 0.39% percent and 1.44 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Conyngham homeowner is quite clear.
The variation between the range for Conyngham and Philadelphia, which for reference, would yield a potential premium range of 0.39% percent and 0.57% percent respectively, is derived from a number of factors, especially; the -0.04% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Scranton–Wilkes-Barre–Hazleton region, and heating & cooling price differences between Conyngham and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research performed by the National Association of Homebuilders. Conyngham 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: Conyngham vs the rest of Pennsylvania
Find out how investing in new windows in Conyngham compares to other nearby Pennsylvania cities.