Description
Value You Can Measure
Mount Cobb property owners have plenty good reasons to change their windows. Repairing leaky windows, refining the decor of your home etc… Other such values should be calculated 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, residents of Mount Cobb, will most probably experience dramatic savings on annual spending for home energy. If you already have dual pane windows you could save approximately $117.31 compared to $116 in Philadelphia. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $302.15 annually, compared to $294 in Philadelphia.
Grow your Mount Cobb Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows can increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to uncover : What’s the return on investment on energy savings on the market? Below is what we discovered in Mount Cobb:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Mount Cobb, your home value could increase by around $703.89 and $1030.03 for a mid-tier or top-tier Mount Cobb home respectively. For comparison, 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. Mount Cobb homeowners could yield an estimated home value increase of between $1812.88 for mid-tier homes and $2652.85 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
Another way to look at it, a window upgrade in Mount Cobb can add between 0.34% percent and 1.27 % percent to the value of your home via the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Mount Cobb homeowner is quite strong.
The variation between the range for Mount Cobb and Philadelphia, which for reference, would yield a potential premium range of 0.33% percent and 0.49% percent respectively, may come from a number of factors, primarily; the 0.13% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Scranton–Wilkes-Barre–Hazleton region, and heating & cooling price differences between Mount Cobb and Philadelphia.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research done by the NAHB. Mount Cobb 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: Mount Cobb vs the rest of Pennsylvania
Find out how investing in new windows in Mount Cobb compares to other nearby Pennsylvania cities.