Value You Can Measure
Farmingdale property owners have a multitude great reasons to change their windows. Updating old windows, improving the design of your home etc… Many such benefits can be quantified rather explicitly.
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 puts windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, houses in Farmingdale, should have important decreases on weekly bill for energy. If you already have dual pane windows you may save about $117.14 compared to $100 in Atlantic City. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $388.83 every year, compared to $274 in Atlantic City.
Build your Farmingdale Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to answer the question : What’s the return on energy savings when it comes time to sell? The following is what we uncovered in Farmingdale:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Farmingdale, your home value could increase by between $702.87 and $1028.53 for a mid-tier or top-tier Farmingdale home respectively. Compare this to, the same replacement in Atlantic City could yield somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Farmingdale homeowners may see an estimated home value gain of between $2333 for mid-tier homes and $3413.96 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Put differently, a window upgrade in Farmingdale can add between 0.21% percent and 1.03 % percent to the value 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 initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Farmingdale homeowner is relatively clear.
The variation between the range for Farmingdale and Atlantic City, which for reference, would yield a potential premium range of 0.18% percent and 0.26% percent respectively, is dependent on a number of factors, primarily; the 1.9% 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 cost differences between Farmingdale and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research conducted by the National Association of Homebuilders. Farmingdale home value data is provided by Zillow.
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