Description
Value You Can Measure
Montgomeryville property owners have plenty strong reasons to upgrade their windows. Replacing broken windows, revamping the style of your home etc… Some such values may be measured rather accurately.
First of all, windows maintain 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.
In terms of energy savings, homeowners in Montgomeryville, could see significant declines on monthly expenditures for electricity. If you already have dual pane windows you may save around $118.62 compared to $116 in Philadelphia. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $310.22 per year, compared to $294 in Philadelphia.
Grow your Montgomeryville Home’s Value through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can add to 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 return on investment on energy savings on the market? Below is what we uncovered in Montgomeryville:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Montgomeryville, your home value could increase by between $711.71 and $1041.46 for a mid-tier or top-tier Montgomeryville home respectively. Compare this to, the same replacement in Philadelphia may get you somewhere between $696 and $1018.48.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Montgomeryville homeowners may expect an estimated home value gain of between $1861.31 for mid-tier homes and $2723.71 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
In other words, a window investment in Montgomeryville can add anywhere from 0.31% percent and 1.18 % percent to the sale price 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 value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Montgomeryville homeowner is quite clear.
The variation between the range for Montgomeryville and Philadelphia, which for reference, would yield a potential premium range of 0.3% percent and 0.44% percent respectively, can be estimated from a number of factors, particularly; the 0.25% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the Philadelphia-Camden-Wilmington region, and energy cost differences between Montgomeryville and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research executed by the National Association of Homebuilders. Montgomeryville 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: Montgomeryville vs the rest of Pennsylvania
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