Description
Value You Can Measure
East Bangor residents have countless excellent reasons to upgrade their windows. Replacing leaky windows, revamping the style of your home etc… Some such benefits should be quantified quite accurately.
For starters, windows conserve 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, people living in East Bangor, are likely to see dramatic declines on weekly expenditures for energy. If you already have dual pane windows you may save about $114.05 compared to $116 in Philadelphia. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $281.94 per year, compared to $294 in Philadelphia.
Grow your East Bangor Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to determine : What’s the ROI on energy savings when selling the house? The following is what we estimated in East Bangor:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in East Bangor, your home value could increase by around $684.32 and $1001.38 for a mid-tier or top-tier East Bangor home respectively. Compare this to, the same replacement 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. East Bangor homeowners may see an estimated home value increase of between $1691.62 for mid-tier homes and $2475.4 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
In other words, a window investment in East Bangor can add between 0.45% percent and 1.65 % 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 East Bangor homeowner is quite clear.
The variation between the range for East Bangor and Philadelphia, which for reference, would yield a potential premium range of 0.46% percent and 0.68% percent respectively, can be estimated from a number of factors, primarily; the -0.19% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Allentown-Bethlehem-Easton region, and energy cost differences between East Bangor and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research executed by the NAHB. East Bangor 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: East Bangor vs the rest of Pennsylvania
Find out how investing in new windows in East Bangor compares to other nearby Pennsylvania cities.