Description
Value You Can Measure
Little Silver residents have countless great reasons to change their windows. Replacing old windows, renewing the aesthetics of your home etc… Other such values can be quantified quite clearly.
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.
As for energy savings, homeowners in Little Silver, should notice large savings on daily bill for home energy. If you already have dual pane windows you may save around $140.87 compared to $100 in Atlantic City. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $547.71 per annum, compared to $274 in Atlantic City.
Build your Little Silver Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can increase 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to evaluate : What’s the ROI on energy savings on the market? Below is what we estimated in Little Silver:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Little Silver, your home value could increase by around $1487.54 and $2074.38 for a mid-tier or top-tier Little Silver home respectively. For comparison, the same replacement in Atlantic City could yield somewhere between $1056 and $1472.6.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Little Silver homeowners could expect an estimated home value gain of between $5783.77 for mid-tier homes and $8065.51 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
Another way to look at it, a window investment in Little Silver can add anywhere from 0.23% percent and 1.27 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Little Silver homeowner is quite clear.
The variation between the range for Little Silver and Atlantic City, which for reference, would yield a potential premium range of 0.17% percent and 0.23% percent respectively, is dependent on a number of factors, primarily; the 4.54% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy cost differences between Little Silver and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research conducted by the National Association of Homebuilders. Little Silver 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: Little Silver vs the rest of New Jersey
Find out how investing in new windows in Little Silver compares to other nearby New Jersey cities.