Franklin Lakes-New Jersey Savings

Improve your Franklin Lakes Home’s Value through Energy Savings

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Replacing your windows to EnergyStar rated National Vinyl windows could increase the asking 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 find out : What’s the return on energy savings when selling the house? Here is what we uncovered in Franklin Lakes:

Another way to look at it, a window upgrade in Franklin Lakes can add anywhere from 0.19% percent and 1.12 % 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 upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Franklin Lakes homeowner is quite strong.

The variation between the range for Franklin Lakes and Atlantic City, which for reference, would yield a potential premium range of 0.12% percent and 0.16% percent respectively, is dependent on a number of factors, primarily; the 6.93% 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 energy cost differences between Franklin Lakes and Atlantic City.

The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research performed by the NAHB. Franklin Lakes home value data is provided by Zillow.

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