Description
Value You Can Measure
Laflin homeowners have a whole host good reasons to upgrade their windows. Repairing damaged windows, renewing the design of your home etc… Other such benefits should be calculated relatively exactly.
For starters, 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, homes in Laflin, could notice large savings on weekly costs for heating & cooling. If you already have dual pane windows you could save around $115.13 compared to $116 in Philadelphia. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $288.59 per year, compared to $294 in Philadelphia.
Increase your Laflin Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may 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 return on investment on energy savings if you put your house up for sale? This is what we estimated in Laflin:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Laflin, your home value could increase by around $690.76 and $1010.81 for a mid-tier or top-tier Laflin home respectively. For comparison, the same replacement in Philadelphia could yield somewhere between $696 and $1018.48.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Laflin homeowners could yield an estimated home value increase of between $1731.53 for mid-tier homes and $2533.81 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
In other words, a window upgrade in Laflin can add anywhere from 0.41% percent and 1.5 % percent to the value of your home through 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 Laflin homeowner is relatively strong.
The variation between the range for Laflin and Philadelphia, which for reference, would yield a potential premium range of 0.41% percent and 0.6% percent respectively, is derived from a number of factors, in particular; the -0.08% 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 cost differences between Laflin and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research conducted by the National Association of Homebuilders. Laflin 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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