Value You Can Measure
Elmwood Park homeowners have a variety excellent reasons to replace their windows. Upgrading damaged windows, revamping the look and feel of your home etc… Some such benefits should be calculated relatively clearly.
To begin with, 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 Elmwood Park, will most probably notice considerable savings on daily expenditures for energy. If you already have dual pane windows you may save about $121.61 compared to $100 in Atlantic City. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $418.77 per year, compared to $274 in Atlantic City.
Increase your Elmwood Park Home’s Value through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may add to 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 estimate : What’s the ROI on energy savings when selling the house? This is what we uncovered in Elmwood Park:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Elmwood Park, your home value could increase by around $729.69 and $1067.78 for a mid-tier or top-tier Elmwood Park home respectively. For comparison, the same upgrade in Atlantic City could add somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Elmwood Park homeowners may yield an estimated home value increase of between $2512.62 for mid-tier homes and $3676.8 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
In other words, a window investment in Elmwood Park can add anywhere from 0.19% percent and 0.94 % percent to the value of your home via the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Elmwood Park homeowner is quite strong.
The variation between the range for Elmwood Park and Atlantic City, which for reference, would yield a potential premium range of 0.15% percent and 0.23% percent respectively, can be estimated from a number of factors, notably; the 2.4% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and heating & cooling cost differences between Elmwood Park and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research conducted by the National Association of Homebuilders. Elmwood Park home value data is provided by Zillow.
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