Value You Can Measure
Long Valley homeowners have a whole host excellent reasons to replace their windows. Fixing old windows, improving the design of your home etc… Certain such values should be quantified quite 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 places windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, people living in Long Valley, can expect to see significant drops on daily costs for heating & cooling. If you already have dual pane windows you may save approximately $126.09 compared to $100 in Atlantic City. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $448.77 every year, compared to $274 in Atlantic City.
Improve your Long Valley Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may add to 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the premium for energy savings when selling the house? What follows is what we found in Long Valley:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Long Valley, your home value could increase by between $756.56 and $1107.1 for a mid-tier or top-tier Long Valley home respectively. Compare this to, the same upgrade 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. Long Valley homeowners could expect an estimated home value increase of between $2692.59 for mid-tier homes and $3940.16 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Put differently, a window upgrade in Long Valley can add between 0.17% percent and 0.88 % percent to the value 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 Long Valley homeowner is relatively strong.
The variation between the range for Long Valley and Atlantic City, which for reference, would yield a potential premium range of 0.13% percent and 0.2% percent respectively, is derived from a number of factors, particularly; the 2.9% 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 Long Valley and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and meticulous research conducted by the NAHB. Long Valley home value data is provided by Zillow.
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