Description
Value You Can Measure
New Brunswick homeowners have a multitude great reasons to replace their windows. Updating damaged windows, improving the design of your home etc… Some such features may be calculated quite explicitly.
Firstly, windows conserve 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.
As for energy savings, residents of New Brunswick, can expect to see large declines on monthly spending for heating & cooling. If you already have dual pane windows you may save approximately $113.23 compared to $100 in Atlantic City. By comparison, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $362.6 annually, compared to $274 in Atlantic City.
Build your New Brunswick 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to figure out : What’s the premium for energy savings if you sell your home? Here is what we estimated in New Brunswick:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in New Brunswick, your home value could increase by between $679.37 and $994.15 for a mid-tier or top-tier New Brunswick home respectively. For comparison, the same replacement in Atlantic City may get you somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. New Brunswick homeowners may see an estimated home value increase of between $2175.62 for mid-tier homes and $3183.66 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
In other words, a window investment in New Brunswick can add anywhere from 0.24% percent and 1.12 % 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 worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a New Brunswick homeowner is quite strong.
The variation between the range for New Brunswick and Atlantic City, which for reference, would yield a potential premium range of 0.21% percent and 0.31% percent respectively, may come from a number of factors, in particular; the 1.47% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy cost differences between New Brunswick and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research done by the NAHB. New Brunswick 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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