Value You Can Measure
Montvale residents have a multitude valid reasons to replace their windows. Upgrading old windows, refining the decor of your home etc… Other such features can be counted rather precisely.
To begin with, windows maintain 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.
With regards to energy savings, residents of Montvale, could see large savings on annual bill for electricity. If you already have dual pane windows you could save about $136.65 compared to $100 in Atlantic City. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $519.48 annually, compared to $274 in Atlantic City.
Improve your Montvale Home’s Resale Price through Energy Savings
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Upgrading 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 evaluate : What’s the return on energy savings when selling the house? This is what we discovered in Montvale:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Montvale, your home value could increase by between $1443.04 and $2012.33 for a mid-tier or top-tier Montvale home respectively. Compare this to, 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. Montvale homeowners may see an estimated home value gain of between $5485.75 for mid-tier homes and $7649.92 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
In other words, a window upgrade in Montvale can add between 0.25% percent and 1.32 % percent to the asking 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 initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Montvale homeowner is quite strong.
The variation between the range for Montvale and Atlantic City, which for reference, would yield a potential premium range of 0.18% percent and 0.25% percent respectively, can be estimated from a number of factors, particularly; the 4.07% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and heating & cooling price differences between Montvale and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and extensive research performed by the NAHB. Montvale home value data is provided by Zillow.
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