Value You Can Measure
Coplay homeowners have a whole host valid reasons to upgrade their windows. Upgrading leaky windows, changing the aesthetics of your home etc… Many such benefits should be calculated relatively clearly.
Firstly, 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.
In terms of energy savings, residents of Coplay, will most probably have significant reductions on daily spending for energy. If you already have dual pane windows you could save approximately $115.44 compared to $116 in Philadelphia. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $290.54 annually, compared to $294 in Philadelphia.
Increase your Coplay Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could 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 energy savings when selling the house? Below is what we uncovered in Coplay:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Coplay, your home value could increase by around $692.65 and $1013.58 for a mid-tier or top-tier Coplay home respectively. For comparison, the same upgrade in Philadelphia could add somewhere between $696 and $1018.48.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Coplay homeowners could see an estimated home value increase of between $1743.24 for mid-tier homes and $2550.95 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
In other words, a window investment in Coplay can add between 0.4% percent and 1.46 % percent to the sale price of your home via 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 Coplay homeowner is relatively strong.
The variation between the range for Coplay and Philadelphia, which for reference, would yield a potential premium range of 0.4% percent and 0.58% percent respectively, is dependent on a number of factors, in particular; the -0.05% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Allentown-Bethlehem-Easton region, and heating & cooling price differences between Coplay and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research executed by the NAHB. Coplay home value data is provided by Zillow.
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