Description
Value You Can Measure
Forty Fort residents have a whole host great reasons to change their windows. Updating broken windows, refining the decor of your home etc… Other such benefits can be calculated rather accurately.
Firstly, windows retain 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, homes in Forty Fort, will most probably have major decreases on weekly bill for energy. If you already have dual pane windows you could save around $112.4 compared to $116 in Philadelphia. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $271.69 every year, compared to $294 in Philadelphia.
Improve your Forty Fort Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can 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 determine : What’s the ROI on energy savings if you sell your home? Here is what we uncovered in Forty Fort:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Forty Fort, your home value could increase by around $562 and $747.46 for a mid-tier or top-tier Forty Fort home respectively. For comparison, the same replacement in Philadelphia could add somewhere between $580 and $771.4.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Forty Fort homeowners may see an estimated home value increase of between $1358.46 for mid-tier homes and $1806.76 for the top tier. Compare this to between $1470 and $1955.1 in Philadelphia.
Another way to look at it, a window upgrade in Forty Fort can add between 0.46% percent and 1.49 % percent to the value of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Forty Fort homeowner is quite strong.
The variation between the range for Forty Fort and Philadelphia, which for reference, would yield a potential premium range of 0.48% percent and 0.64% percent respectively, can be estimated from a number of factors, principally; the -0.34% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Scranton–Wilkes-Barre–Hazleton region, and heating & cooling cost differences between Forty Fort and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research performed by the NAHB. Forty Fort 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: Forty Fort vs the rest of Pennsylvania
Find out how investing in new windows in Forty Fort compares to other nearby Pennsylvania cities.