Description
Value You Can Measure
Jacksonville homeowners have a multitude valid reasons to upgrade their windows. Updating old windows, revamping the look and feel of your home etc… Certain such features may be calculated relatively precisely.
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 puts windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, households located in Jacksonville, should have dramatic declines on weekly bill for home energy. If you already have dual pane windows you could save approximately $205.43 compared to $197 in Burlington. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $610.86 per year, compared to $553 in Burlington.
Increase your Jacksonville Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could add to 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to answer the question : What’s the ROI on energy savings on the market? This is what we estimated in Jacksonville:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Jacksonville, your home value could increase by between $1232.59 and $1803.69 for a mid-tier or top-tier Jacksonville home respectively. Compare this to, the same upgrade in Burlington may get you somewhere between $1182 and $1729.66.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Jacksonville homeowners may see an estimated home value increase of between $3665.16 for mid-tier homes and $5363.35 for the top tier. Compare this to between $3318 and $4855.34 in Burlington.
In other words, a window investment in Jacksonville can add anywhere from 0.68% percent and 2.96 % percent to the sale price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Jacksonville homeowner is quite strong.
The variation between the range for Jacksonville and Burlington, which for reference, would yield a potential premium range of 0.65% percent and 0.95% percent respectively, is dependent on a number of factors, in particular; the 0.48% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the region, and energy price differences between Jacksonville and Burlington.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research done by the NAHB. Jacksonville 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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