Savings Category: Replacement Window Savings

Description

Value You Can Measure

Elizabeth homeowners have plenty good reasons to change their windows. Updating damaged windows, revamping the design of your home etc… Some such benefits should be quantified rather explicitly.

For starters, windows preserve 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.

With regards to energy savings, homes in Elizabeth, should notice significant decreases on daily expenditures for home energy. If you already have dual pane windows you could save about $115.33 compared to $100 in Atlantic City. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $376.71 every year, compared to $274 in Atlantic City.

Grow your Elizabeth Home’s Asking Price through Energy Savings

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Switching your windows to EnergyStar rated National Vinyl windows can add to 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 evaluate : What’s the return on investment on energy savings when it comes time to sell? What follows is what we discovered in Elizabeth:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Elizabeth, your home value could increase by around $692.01 and $1012.64 for a mid-tier or top-tier Elizabeth home respectively. For comparison, the same replacement in Atlantic City may get you somewhere between $600 and $878.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Elizabeth homeowners may expect an estimated home value increase of between $2260.26 for mid-tier homes and $3307.51 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.

Put differently, a window upgrade in Elizabeth can add between 0.22% percent and 1.07 % percent to the asking price of your home via the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Elizabeth homeowner is relatively strong.

The variation between the range for Elizabeth and Atlantic City, which for reference, would yield a potential premium range of 0.19% percent and 0.28% percent respectively, is derived from a number of factors, in particular; the 1.7% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and heating & cooling price differences between Elizabeth and Atlantic City.

The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research conducted by the National Association of Homebuilders. Elizabeth home value data is provided by Zillow.

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Energy Savings & ROI: Elizabeth vs the rest of New Jersey

Find out how investing in new windows in Elizabeth compares to other nearby New Jersey cities.