Description
Value You Can Measure
Pringle residents have many excellent reasons to upgrade their windows. Repairing old windows, refining the decor of your home etc… Some such features may be measured quite explicitly.
First of all, windows maintain 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.
In terms of energy savings, households located in Pringle, should notice large declines on weekly costs for energy. If you already have dual pane windows you could save about $110.85 compared to $116 in Philadelphia. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $262.09 per year, compared to $294 in Philadelphia.
Build your Pringle Home’s Asking Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may add to 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 evaluate : What’s the return on investment on energy savings if you put your house up for sale? This is what we discovered in Pringle:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Pringle, your home value could increase by around $554.25 and $737.15 for a mid-tier or top-tier Pringle home respectively. Compare this to, the same upgrade in Philadelphia could add somewhere between $580 and $771.4.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Pringle homeowners could see an estimated home value increase of between $1310.46 for mid-tier homes and $1742.91 for the top tier. Compare this to between $1470 and $1955.1 in Philadelphia.
In other words, a window upgrade in Pringle can add between 0.59% percent and 1.86 % 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 worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Pringle homeowner is relatively strong.
The variation between the range for Pringle and Philadelphia, which for reference, would yield a potential premium range of 0.62% percent and 0.82% percent respectively, is dependent on a number of factors, principally; the -0.49% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the Scranton–Wilkes-Barre–Hazleton region, and heating & cooling cost differences between Pringle and Philadelphia.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and expert research performed by the NAHB. Pringle 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: Pringle vs the rest of Pennsylvania
Find out how investing in new windows in Pringle compares to other nearby Pennsylvania cities.