Savings Category: Replacement Window Savings

Description

Value You Can Measure

Garfield residents have plenty great reasons to change their windows. Fixing leaky windows, improving the design of your home etc… Many such features may be counted relatively accurately.

First of all, 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, homeowners in Garfield, could have impressive declines on monthly expenditures for energy. If you already have dual pane windows you may save approximately $120.05 compared to $100 in Atlantic City. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $408.3 every year, compared to $274 in Atlantic City.

Grow your Garfield Home’s Resale Price through Energy Savings

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Replacing your windows to EnergyStar rated National Vinyl windows may 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 answer the question : What’s the premium for energy savings when it comes time to sell? Below is what we estimated in Garfield:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Garfield, your home value could increase by between $720.31 and $1054.05 for a mid-tier or top-tier Garfield home respectively. For comparison, the same upgrade in Atlantic City may get you somewhere between $600 and $878.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Garfield homeowners may see an estimated home value gain of between $2449.8 for mid-tier homes and $3584.87 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.

In other words, a window investment in Garfield can add between 0.19% percent and 0.97 % percent to the sale price of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Garfield homeowner is quite strong.

The variation between the range for Garfield and Atlantic City, which for reference, would yield a potential premium range of 0.16% percent and 0.24% percent respectively, is derived from a number of factors, principally; the 2.23% 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 price differences between Garfield and Atlantic City.

The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research conducted by the National Association of Homebuilders. Garfield home value data is provided by Zillow.

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

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