Description
Value You Can Measure
Pocono Pines property owners have a variety excellent reasons to replace their windows. Upgrading broken windows, changing the design of your home etc… Some such values can be counted relatively accurately.
To begin with, windows maintain 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.
As for energy savings, people living in Pocono Pines, will most probably experience impressive reductions on annual costs for energy. If you already have dual pane windows you may save approximately $119.71 compared to $116 in Philadelphia. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $317.02 annually, compared to $294 in Philadelphia.
Increase your Pocono Pines Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could add to 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to answer the question : What’s the return on energy savings when it comes time to sell? The following is what we estimated in Pocono Pines:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Pocono Pines, your home value could increase by around $718.29 and $1051.1 for a mid-tier or top-tier Pocono Pines home respectively. For comparison, the same upgrade 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. Pocono Pines homeowners may expect an estimated home value increase of between $1902.09 for mid-tier homes and $2783.4 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
In other words, a window upgrade in Pocono Pines can add anywhere from 0.29% percent and 1.11 % percent to the asking price of your home through 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 Pocono Pines homeowner is relatively clear.
The variation between the range for Pocono Pines and Philadelphia, which for reference, would yield a potential premium range of 0.28% percent and 0.41% percent respectively, is derived from a number of factors, in particular; the 0.36% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the East Stroudsburg region, and energy price differences between Pocono Pines and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research conducted by the National Association of Homebuilders. Pocono Pines 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: Pocono Pines vs the rest of Pennsylvania
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