Description
Value You Can Measure
Fair Lawn homeowners have countless good reasons to change their windows. Repairing old windows, changing the style of your home etc… Many such benefits should be calculated relatively exactly.
For starters, windows maintain about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This places windows among the top 5 home improvement investments in terms of value retention.
In terms of energy savings, people living in Fair Lawn, are likely to experience dramatic decreases on daily bill for heating & cooling. If you already have dual pane windows you may save approximately $125.56 compared to $100 in Atlantic City. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $445.17 every year, compared to $274 in Atlantic City.
Build your Fair Lawn Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to figure out : What’s the premium for energy savings if you sell your home? What follows is what we uncovered in Fair Lawn:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Fair Lawn, your home value could increase by around $753.34 and $1102.38 for a mid-tier or top-tier Fair Lawn 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. Fair Lawn homeowners could yield an estimated home value gain of between $2671.01 for mid-tier homes and $3908.57 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Another way to look at it, a window upgrade in Fair Lawn can add between 0.17% percent and 0.89 % 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 upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Fair Lawn homeowner is relatively clear.
The variation between the range for Fair Lawn and Atlantic City, which for reference, would yield a potential premium range of 0.14% percent and 0.2% percent respectively, may come from a number of factors, especially; the 2.84% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy price differences between Fair Lawn and Atlantic City.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research executed by the NAHB. Fair Lawn 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: Fair Lawn vs the rest of New Jersey
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