Savings Category: Replacement Window Savings

Description

Value You Can Measure

Franklin homeowners have plenty good reasons to change their windows. Upgrading old windows, refining the decor of your home etc… Many such features may be quantified quite explicitly.

Firstly, 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.

As for energy savings, households located in Franklin, may notice major decreases on weekly costs for heating & cooling. If you already have dual pane windows you could save about $107.32 compared to $100 in Atlantic City. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $323.05 per year, compared to $274 in Atlantic City.

Build your Franklin 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.

Moreover, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the premium for energy savings if you put your house up for sale? Here is what we estimated in Franklin:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Franklin, your home value could increase by around $643.94 and $942.3 for a mid-tier or top-tier Franklin 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. Franklin homeowners could yield an estimated home value gain of between $1938.31 for mid-tier homes and $2836.39 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.

Put differently, a window investment in Franklin can add anywhere from 0.31% percent and 1.36 % 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 value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Franklin homeowner is quite strong.

The variation between the range for Franklin and Atlantic City, which for reference, would yield a potential premium range of 0.29% percent and 0.42% percent respectively, may come from a number of factors, especially; the 0.81% 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 price differences between Franklin and Atlantic City.

The data presented is based on EnergyStar, the NREL,Department of Energy and extensive research conducted by the NAHB. Franklin home value data is provided by Zillow.

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Energy Savings & ROI: Franklin vs the rest of New Jersey

Find out how investing in new windows in Franklin compares to other nearby New Jersey cities.