Description
Value You Can Measure
Lake Como residents have a multitude great reasons to upgrade their windows. Repairing leaky windows, refining the aesthetics of your home etc… Certain such features may be quantified quite exactly.
Firstly, windows maintain 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.
As for energy savings, residents of Lake Como, are likely to see important decreases on daily costs for electricity. If you already have dual pane windows you may save approximately $126.21 compared to $100 in Atlantic City. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $449.57 per year, compared to $274 in Atlantic City.
Improve your Lake Como Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows may increase the sale 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 estimate : What’s the return on energy savings when selling the house? Below is what we estimated in Lake Como:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Lake Como, your home value could increase by between $757.28 and $1108.15 for a mid-tier or top-tier Lake Como home respectively. For comparison, the same upgrade in Atlantic City could add somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Lake Como homeowners could yield an estimated home value gain of between $2697.43 for mid-tier homes and $3947.24 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
In other words, a window upgrade in Lake Como can add anywhere from 0.17% percent and 0.88 % 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 initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Lake Como homeowner is relatively strong.
The variation between the range for Lake Como and Atlantic City, which for reference, would yield a potential premium range of 0.13% percent and 0.2% percent respectively, can be estimated from a number of factors, especially; the 2.91% 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 cost differences between Lake Como and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research done by the NAHB. Lake Como 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: Lake Como vs the rest of New Jersey
Find out how investing in new windows in Lake Como compares to other nearby New Jersey cities.