Description
Value You Can Measure
Laurence Harbor property owners have countless good reasons to replace their windows. Fixing leaky windows, changing the aesthetics of your home etc… Certain such benefits can be measured rather accurately.
First of all, windows conserve 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.
As for energy savings, households located in Laurence Harbor, can expect to have impressive decreases on monthly costs for electricity. If you already have dual pane windows you may save about $114.71 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 approximately $372.5 per annum, compared to $274 in Atlantic City.
Improve your Laurence Harbor Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can 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 answer the question : What’s the return on energy savings if you put your house up for sale? Here is what we uncovered in Laurence Harbor:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Laurence Harbor, your home value could increase by around $688.24 and $1007.12 for a mid-tier or top-tier Laurence Harbor home respectively. For comparison, the same replacement in Atlantic City could yield somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Laurence Harbor homeowners may see an estimated home value increase of between $2235.01 for mid-tier homes and $3270.57 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Put differently, a window upgrade in Laurence Harbor can add between 0.23% percent and 1.08 % percent to the value 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 upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Laurence Harbor homeowner is quite clear.
The variation between the range for Laurence Harbor and Atlantic City, which for reference, would yield a potential premium range of 0.2% percent and 0.29% percent respectively, is derived from a number of factors, in particular; the 1.63% 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 energy cost differences between Laurence Harbor and Atlantic City.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research executed by the NAHB. Laurence Harbor 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: Laurence Harbor vs the rest of New Jersey
Find out how investing in new windows in Laurence Harbor compares to other nearby New Jersey cities.