Prospect Park-New Jersey Savings

Increase your Prospect Park Home’s Asking Price through Energy Savings

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Upgrading your windows to EnergyStar rated National Vinyl windows can 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 estimate : What’s the return on investment on energy savings if you sell your home? Here is what we estimated in Prospect Park:

In other words, a window investment in Prospect Park can add anywhere from 0.21% percent and 1.03 % percent to the value 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 Prospect Park homeowner is quite clear.

The variation between the range for Prospect Park and Atlantic City, which for reference, would yield a potential premium range of 0.18% percent and 0.27% percent respectively, is dependent on a number of factors, principally; the 1.86% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and energy cost differences between Prospect Park and Atlantic City.

The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and professional research performed by the National Association of Homebuilders. Prospect Park home value data is provided by Zillow.

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