Value You Can Measure
Langhorne property owners have a whole host valid reasons to change their windows. Fixing old windows, renewing the look and feel of your home etc… Other such features can be calculated quite explicitly.
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 puts windows among the top 5 home improvement investments in terms of value retention.
With regards to energy savings, residents of Langhorne, may have large reductions on weekly spending for electricity. If you already have dual pane windows you could save about $125.72 compared to $116 in Philadelphia. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $354.2 annually, compared to $294 in Philadelphia.
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Improve your Langhorne Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could increase 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to determine : What’s the return on energy savings when it comes time to sell? Below is what we uncovered in Langhorne:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Langhorne, your home value could increase by between $754.31 and $1103.8 for a mid-tier or top-tier Langhorne home respectively. Compare this to, the same replacement in Philadelphia could yield somewhere between $696 and $1018.48.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Langhorne homeowners could yield an estimated home value gain of between $2125.23 for mid-tier homes and $3109.91 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
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Put differently, a window investment in Langhorne can add anywhere from 0.21% percent and 0.87 % percent to the asking price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Langhorne homeowner is relatively strong.
The variation between the range for Langhorne and Philadelphia, which for reference, would yield a potential premium range of 0.19% percent and 0.29% percent respectively, can be estimated from a number of factors, in particular; the 0.93% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Philadelphia-Camden-Wilmington region, and heating & cooling cost differences between Langhorne and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research conducted by the NAHB. Langhorne home value data is provided by Zillow.
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