Description
Value You Can Measure
Pittston property owners have a multitude good reasons to replace their windows. Fixing old windows, refining the look and feel of your home etc… Certain such features can be calculated relatively precisely.
For starters, 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.
With regards to energy savings, homes in Pittston, should have large decreases on daily bill for home energy. If you already have dual pane windows you may save about $114.01 compared to $116 in Philadelphia. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $281.65 per year, compared to $294 in Philadelphia.
Build your Pittston Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can increase 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to estimate : What’s the return on investment on energy savings when selling the house? The following is what we discovered in Pittston:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Pittston, your home value could increase by between $570.03 and $758.14 for a mid-tier or top-tier Pittston home respectively. Compare this to, the same replacement 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. Pittston homeowners could see an estimated home value increase of between $1408.23 for mid-tier homes and $1872.95 for the top tier. Compare this to between $1470 and $1955.1 in Philadelphia.
Another way to look at it, a window upgrade in Pittston can add anywhere from 0.38% percent and 1.25 % percent to the sale price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Pittston homeowner is relatively strong.
The variation between the range for Pittston and Philadelphia, which for reference, would yield a potential premium range of 0.39% percent and 0.52% percent respectively, may come from a number of factors, especially; the -0.19% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the Scranton–Wilkes-Barre–Hazleton region, and energy price differences between Pittston and Philadelphia.
The data presented is based on EnergyStar, the NREL,Department of Energy and expert research conducted by the NAHB. Pittston 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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Energy Savings & ROI: Pittston vs the rest of Pennsylvania
Find out how investing in new windows in Pittston compares to other nearby Pennsylvania cities.