Description
Value You Can Measure
Effort property owners have countless great reasons to change their windows. Fixing old windows, improving the look and feel of your home etc… Many such features may be calculated rather exactly.
Firstly, windows maintain 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, homeowners in Effort, may experience considerable declines on annual costs for electricity. If you already have dual pane windows you could save approximately $116.38 compared to $116 in Philadelphia. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $296.37 per year, compared to $294 in Philadelphia.
Improve your Effort Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may 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 evaluate : What’s the return on energy savings if you put your house up for sale? This is what we discovered in Effort:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Effort, your home value could increase by around $698.29 and $1021.83 for a mid-tier or top-tier Effort 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. Effort homeowners could yield an estimated home value increase of between $1778.2 for mid-tier homes and $2602.1 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
In other words, a window upgrade in Effort can add anywhere from 0.36% percent and 1.36 % 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 upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Effort homeowner is relatively clear.
The variation between the range for Effort and Philadelphia, which for reference, would yield a potential premium range of 0.36% percent and 0.53% percent respectively, can be estimated from a number of factors, particularly; the 0.04% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the East Stroudsburg region, and energy price differences between Effort and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research done by the National Association of Homebuilders. Effort 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: Effort vs the rest of Pennsylvania
Find out how investing in new windows in Effort compares to other nearby Pennsylvania cities.