Description
Value You Can Measure
Fountain Hill property owners have countless great reasons to upgrade their windows. Repairing broken windows, improving the aesthetics of your home etc… Certain such benefits should be measured quite precisely.
Firstly, windows conserve about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This sets windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, residents of Fountain Hill, will most probably see considerable reductions on daily expenditures for electricity. If you already have dual pane windows you may save about $114.34 compared to $116 in Philadelphia. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $283.7 annually, compared to $294 in Philadelphia.
Improve your Fountain Hill Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to find out : What’s the return on energy savings when it comes time to sell? The following is what we discovered in Fountain Hill:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Fountain Hill, your home value could increase by between $686.02 and $1003.88 for a mid-tier or top-tier Fountain Hill home respectively. Compare this to, the same upgrade in Philadelphia could yield somewhere between $696 and $1018.48.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Fountain Hill homeowners could expect an estimated home value increase of between $1702.18 for mid-tier homes and $2490.86 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
Another way to look at it, a window upgrade in Fountain Hill can add between 0.44% percent and 1.6 % percent to the value of your home through 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 Fountain Hill homeowner is quite strong.
The variation between the range for Fountain Hill and Philadelphia, which for reference, would yield a potential premium range of 0.45% percent and 0.66% percent respectively, is dependent on a number of factors, notably; the -0.16% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Allentown-Bethlehem-Easton region, and heating & cooling price differences between Fountain Hill and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research done by the National Association of Homebuilders. Fountain Hill 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: Fountain Hill vs the rest of Pennsylvania
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