Description
Value You Can Measure
Harrington Park property owners have plenty excellent reasons to replace their windows. Fixing leaky windows, improving the style of your home etc… Certain such benefits may be measured relatively explicitly.
Firstly, windows retain 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.
In terms of energy savings, homes in Harrington Park, may notice important decreases on weekly bill for heating & cooling. If you already have dual pane windows you could save around $138.45 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 approximately $531.5 annually, compared to $274 in Atlantic City.
Grow your Harrington Park Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may add to 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 ascertain : What’s the return on investment on energy savings when selling the house? Here is what we uncovered in Harrington Park:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Harrington Park, your home value could increase by between $1461.99 and $2038.75 for a mid-tier or top-tier Harrington Park home respectively. Compare this to, the same replacement in Atlantic City could yield somewhere between $1056 and $1472.6.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Harrington Park homeowners could expect an estimated home value gain of between $5612.64 for mid-tier homes and $7826.87 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
Another way to look at it, a window upgrade in Harrington Park can add anywhere from 0.24% percent and 1.29 % 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 initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Harrington Park homeowner is relatively strong.
The variation between the range for Harrington Park and Atlantic City, which for reference, would yield a potential premium range of 0.17% percent and 0.24% percent respectively, may come from a number of factors, especially; the 4.27% 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 Harrington Park and Atlantic City.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research done by the National Association of Homebuilders. Harrington Park 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: Harrington Park vs the rest of New Jersey
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