Value You Can Measure
Jenkintown property owners have a whole host excellent reasons to change their windows. Replacing old windows, revamping the decor of your home etc… Some such values should be quantified relatively accurately.
To start, windows conserve 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, households located in Jenkintown, can expect to have significant decreases on daily expenditures for home energy. If you already have dual pane windows you could save about $125.23 compared to $116 in Philadelphia. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $351.2 annually, compared to $294 in Philadelphia.
Improve your Jenkintown Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can 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 figure out : What’s the return on energy savings when selling the house? This is what we discovered in Jenkintown:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Jenkintown, your home value could increase by between $751.4 and $1099.55 for a mid-tier or top-tier Jenkintown home respectively. For comparison, the same upgrade 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. Jenkintown homeowners may yield an estimated home value increase of between $2107.23 for mid-tier homes and $3083.58 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
Another way to look at it, a window investment in Jenkintown can add between 0.22% percent and 0.88 % percent to the asking 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 Jenkintown homeowner is relatively clear.
The variation between the range for Jenkintown and Philadelphia, which for reference, would yield a potential premium range of 0.2% percent and 0.29% percent respectively, may come from a number of factors, in particular; the 0.88% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the Philadelphia-Camden-Wilmington region, and heating & cooling cost differences between Jenkintown and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and meticulous research executed by the NAHB. Jenkintown home value data is provided by Zillow.
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