Value You Can Measure
Netcong property owners have many great reasons to change their windows. Updating damaged windows, changing the style of your home etc… Certain such benefits may be quantified relatively precisely.
To start, 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.
With regards to energy savings, residents of Netcong, could see important reductions on daily expenditures for electricity. If you already have dual pane windows you could save about $113.01 compared to $100 in Atlantic City. In contrast, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $361.11 every year, compared to $274 in Atlantic City.
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Improve your Netcong Home’s Value through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could add to the value 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 answer the question : What’s the ROI on energy savings when it comes time to sell? Here is what we estimated in Netcong:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Netcong, your home value could increase by around $678.04 and $992.19 for a mid-tier or top-tier Netcong home respectively. For comparison, the same replacement in Atlantic City may get you somewhere between $600 and $878.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Netcong homeowners may see an estimated home value gain of between $2166.67 for mid-tier homes and $3170.56 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
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In other words, a window investment in Netcong can add anywhere from 0.24% percent and 1.13 % percent to the value of your home via 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 Netcong homeowner is quite strong.
The variation between the range for Netcong and Atlantic City, which for reference, would yield a potential premium range of 0.21% percent and 0.31% percent respectively, is derived from a number of factors, especially; the 1.45% 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 energy cost differences between Netcong and Atlantic City.
The data presented is derived from EnergyStar, the NREL,Department of Energy and expert research executed by the National Association of Homebuilders. Netcong home value data is provided by Zillow.
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