Value You Can Measure
Mountain Lakes residents have a whole host great reasons to change their windows. Replacing damaged windows, renewing the decor of your home etc… Other such features may be quantified quite exactly.
First of all, 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.
In terms of energy savings, homes in Mountain Lakes, may see important drops on annual costs for home energy. If you already have dual pane windows you may save around $148.15 compared to $100 in Atlantic City. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $596.49 per annum, compared to $274 in Atlantic City.
Increase your Mountain Lakes Home’s Value 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 uncover : What’s the ROI on energy savings if you put your house up for sale? This is what we discovered in Mountain Lakes:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Mountain Lakes, your home value could increase by between $1564.45 and $2181.63 for a mid-tier or top-tier Mountain Lakes home respectively. Compare this to, the same upgrade 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. Mountain Lakes homeowners could yield an estimated home value gain of between $6298.89 for mid-tier homes and $8783.85 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
Another way to look at it, a window investment in Mountain Lakes can add between 0.21% percent and 1.21 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Mountain Lakes homeowner is relatively clear.
The variation between the range for Mountain Lakes and Atlantic City, which for reference, would yield a potential premium range of 0.15% percent and 0.2% percent respectively, is derived from a number of factors, notably; the 5.35% 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 heating & cooling price differences between Mountain Lakes and Atlantic City.
The data presented is derived from EnergyStar, the NREL,Department of Energy and professional research done by the National Association of Homebuilders. Mountain Lakes home value data is provided by Zillow.
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