Value You Can Measure
Palmerton property owners have a multitude great reasons to replace their windows. Replacing old windows, refining the aesthetics of your home etc… Some such values should be measured quite clearly.
For starters, windows preserve 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.
With regards to energy savings, people living in Palmerton, could see dramatic decreases on annual bill for electricity. If you already have dual pane windows you could save about $112.88 compared to $116 in Philadelphia. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $274.64 per year, compared to $294 in Philadelphia.
Grow your Palmerton Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can add to 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 determine : What’s the return on investment on energy savings when selling the house? This is what we estimated in Palmerton:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Palmerton, your home value could increase by between $564.38 and $750.62 for a mid-tier or top-tier Palmerton home respectively. For comparison, the same upgrade in Philadelphia could yield somewhere between $580 and $771.4.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Palmerton homeowners may yield an estimated home value increase of between $1373.21 for mid-tier homes and $1826.37 for the top tier. Compare this to between $1470 and $1955.1 in Philadelphia.
In other words, a window upgrade in Palmerton can add anywhere from 0.44% percent and 1.41 % percent to the sale price of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Palmerton homeowner is relatively clear.
The variation between the range for Palmerton and Philadelphia, which for reference, would yield a potential premium range of 0.45% percent and 0.6% percent respectively, can be estimated from a number of factors, especially; the -0.3% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Allentown-Bethlehem-Easton region, and energy price differences between Palmerton and Philadelphia.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research executed by the National Association of Homebuilders. Palmerton home value data is provided by Zillow.
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