Value You Can Measure
Lambertville homeowners have a whole host valid reasons to replace their windows. Replacing damaged windows, renewing the style of your home etc… Some such benefits can be measured relatively clearly.
To begin with, 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.
In terms of energy savings, people living in Lambertville, will most probably have important declines on weekly costs for heating & cooling. If you already have dual pane windows you may save about $121.92 compared to $100 in Atlantic City. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $420.84 per year, compared to $274 in Atlantic City.
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Improve your Lambertville 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 premium for energy savings if you put your house up for sale? Here is what we uncovered in Lambertville:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Lambertville, your home value could increase by around $731.54 and $1070.49 for a mid-tier or top-tier Lambertville home respectively. For comparison, the same replacement in Atlantic City could yield somewhere between $600 and $878.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Lambertville homeowners could see an estimated home value increase of between $2525.03 for mid-tier homes and $3694.96 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
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Put differently, a window investment in Lambertville can add anywhere from 0.19% percent and 0.94 % percent to the value 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 Lambertville homeowner is relatively clear.
The variation between the range for Lambertville and Atlantic City, which for reference, would yield a potential premium range of 0.15% percent and 0.22% percent respectively, can be estimated from a number of factors, in particular; the 2.44% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and energy cost differences between Lambertville and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research executed by the National Association of Homebuilders. Lambertville home value data is provided by Zillow.
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