Value You Can Measure
Penndel homeowners have plenty excellent reasons to replace their windows. Repairing old windows, changing the look and feel of your home etc… Many such features can be measured quite precisely.
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.
With regards to energy savings, houses in Penndel, could have impressive drops on monthly costs for electricity. If you already have dual pane windows you may save approximately $121.32 compared to $116 in Philadelphia. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $326.98 per year, compared to $294 in Philadelphia.
Improve your Penndel Home’s Value through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows could 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 uncover : What’s the ROI on energy savings on the market? What follows is what we discovered in Penndel:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Penndel, your home value could increase by between $727.94 and $1065.22 for a mid-tier or top-tier Penndel home respectively. For comparison, the same replacement in Philadelphia could add somewhere between $696 and $1018.48.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Penndel homeowners may expect an estimated home value increase of between $1961.87 for mid-tier homes and $2870.88 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
Put differently, a window upgrade in Penndel can add anywhere from 0.26% percent and 1.03 % percent to the value 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 value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Penndel homeowner is quite clear.
The variation between the range for Penndel and Philadelphia, which for reference, would yield a potential premium range of 0.25% percent and 0.36% percent respectively, may come from a number of factors, particularly; the 0.51% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Philadelphia-Camden-Wilmington region, and energy cost differences between Penndel and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research conducted by the NAHB. Penndel home value data is provided by Zillow.
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