Value You Can Measure
Midland Park homeowners have a whole host valid reasons to change their windows. Repairing old windows, improving the style of your home etc… Certain such benefits can be counted quite explicitly.
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 sets windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, homeowners in Midland Park, should have considerable drops on annual expenditures for home energy. If you already have dual pane windows you could save around $127.86 compared to $100 in Atlantic City. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $460.63 per annum, compared to $274 in Atlantic City.
Grow your Midland Park Home’s Asking 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to determine : What’s the premium for energy savings if you put your house up for sale? Here is what we discovered in Midland Park:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Midland Park, your home value could increase by between $767.19 and $1122.65 for a mid-tier or top-tier Midland Park home respectively. Compare this to, 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. Midland Park homeowners may see an estimated home value increase of between $2763.78 for mid-tier homes and $4044.33 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Another way to look at it, a window investment in Midland Park can add between 0.16% percent and 0.86 % percent to the asking 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 Midland Park homeowner is relatively strong.
The variation between the range for Midland Park and Atlantic City, which for reference, would yield a potential premium range of 0.13% percent and 0.19% percent respectively, is derived from a number of factors, notably; the 3.1% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and energy price differences between Midland Park and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research done by the NAHB. Midland Park home value data is provided by Zillow.
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