Description
Value You Can Measure
Matawan homeowners have plenty great reasons to replace their windows. Repairing broken windows, revamping the decor of your home etc… Many such features may be measured quite precisely.
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.
As for energy savings, residents of Matawan, will most probably notice significant savings on annual costs for energy. If you already have dual pane windows you could save about $121.34 compared to $100 in Atlantic City. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $416.91 every year, compared to $274 in Atlantic City.
Build your Matawan Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can add to 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.
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 on the market? What follows is what we estimated in Matawan:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Matawan, your home value could increase by between $728.02 and $1065.34 for a mid-tier or top-tier Matawan home respectively. For comparison, the same replacement in Atlantic City could add somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Matawan homeowners may expect an estimated home value increase of between $2501.48 for mid-tier homes and $3660.5 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Another way to look at it, a window upgrade in Matawan can add between 0.19% percent and 0.95 % percent to the sale price of your home via 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 Matawan homeowner is relatively strong.
The variation between the range for Matawan and Atlantic City, which for reference, would yield a potential premium range of 0.16% percent and 0.23% percent respectively, may come from a number of factors, principally; the 2.37% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy cost differences between Matawan and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research done by the National Association of Homebuilders. Matawan 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: Matawan vs the rest of New Jersey
Find out how investing in new windows in Matawan compares to other nearby New Jersey cities.