Description
Value You Can Measure
Laceyville homeowners have plenty great reasons to replace their windows. Replacing broken windows, changing the style of your home etc… Some such values may be measured quite clearly.
To begin with, windows maintain 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.
With regards to energy savings, people living in Laceyville, could have major reductions on monthly costs for energy. If you already have dual pane windows you could save approximately $110.63 compared to $116 in Philadelphia. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $260.76 per annum, compared to $294 in Philadelphia.
Build your Laceyville Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could 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 answer the question : What’s the premium for energy savings on the market? Below is what we uncovered in Laceyville:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Laceyville, your home value could increase by between $553.17 and $735.72 for a mid-tier or top-tier Laceyville home respectively. Compare this to, the same upgrade in Philadelphia could yield somewhere between $580 and $771.4.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Laceyville homeowners could yield an estimated home value increase of between $1303.8 for mid-tier homes and $1734.05 for the top tier. Compare this to between $1470 and $1955.1 in Philadelphia.
Another way to look at it, a window upgrade in Laceyville can add between 0.62% percent and 1.93 % 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 worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Laceyville homeowner is quite strong.
The variation between the range for Laceyville and Philadelphia, which for reference, would yield a potential premium range of 0.65% percent and 0.86% percent respectively, is derived from a number of factors, principally; the -0.51% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Scranton–Wilkes-Barre–Hazleton region, and energy price differences between Laceyville and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research executed by the National Association of Homebuilders. Laceyville 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: Laceyville vs the rest of Pennsylvania
Find out how investing in new windows in Laceyville compares to other nearby Pennsylvania cities.