Description
Value You Can Measure
Glenburn homeowners have a multitude good reasons to replace their windows. Repairing broken windows, refining the look and feel of your home etc… Certain such benefits may be counted relatively clearly.
First of all, 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.
As for energy savings, homeowners in Glenburn, are likely to see significant decreases on annual spending for energy. If you already have dual pane windows you could save about $120.08 compared to $116 in Philadelphia. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $319.27 per year, compared to $294 in Philadelphia.
Build your Glenburn Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could increase 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 determine : What’s the return on energy savings if you sell your home? Below is what we found in Glenburn:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Glenburn, your home value could increase by between $720.48 and $1054.3 for a mid-tier or top-tier Glenburn home respectively. For comparison, the same replacement in Philadelphia may get you somewhere between $696 and $1018.48.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Glenburn homeowners may yield an estimated home value increase of between $1915.64 for mid-tier homes and $2803.22 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
In other words, a window upgrade in Glenburn can add between 0.28% percent and 1.09 % percent to the sale price of your home through 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 Glenburn homeowner is quite strong.
The variation between the range for Glenburn and Philadelphia, which for reference, would yield a potential premium range of 0.27% percent and 0.4% percent respectively, may come from a number of factors, in particular; the 0.39% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Scranton–Wilkes-Barre–Hazleton region, and energy cost differences between Glenburn and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and professional research executed by the NAHB. Glenburn 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: Glenburn vs the rest of Pennsylvania
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