Savings Category: Replacement Window Savings

Description

Value You Can Measure

Ridgewood homeowners have countless strong reasons to replace their windows. Repairing leaky windows, changing the aesthetics of your home etc… Certain such benefits should be counted rather accurately.

First of all, 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, homeowners in Ridgewood, could experience important savings on weekly expenditures for energy. If you already have dual pane windows you may save approximately $147.37 compared to $100 in Atlantic City. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $591.31 every year, compared to $274 in Atlantic City.

Increase your Ridgewood Home’s Value through Energy Savings

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Replacing 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.

In addition, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the return on investment on energy savings on the market? The following is what we discovered in Ridgewood:

Basic Dual-Pane to National Vinyl

If you already have dual-pane windows (non-EnergyStar rated), in Ridgewood, your home value could increase by around $1556.28 and $2170.24 for a mid-tier or top-tier Ridgewood home respectively. For comparison, the same replacement in Atlantic City could yield somewhere between $1056 and $1472.6.

Single-Pane to National Vinyl

When upgrading from low-efficiency single-pane windows, the potential is even greater. Ridgewood homeowners could yield an estimated home value gain of between $6244.18 for mid-tier homes and $8707.56 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.

Put differently, a window investment in Ridgewood can add between 0.22% percent and 1.21 % percent to the value of your home via 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 Ridgewood homeowner is relatively strong.

The variation between the range for Ridgewood and Atlantic City, which for reference, would yield a potential premium range of 0.15% percent and 0.21% percent respectively, can be estimated from a number of factors, especially; the 5.26% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and heating & cooling price differences between Ridgewood and Atlantic City.

The data presented is based on EnergyStar, the NREL,Department of Energy and expert research performed by the NAHB. Ridgewood home value data is provided by Zillow.

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Energy Savings & ROI: Ridgewood vs the rest of New Jersey

Find out how investing in new windows in Ridgewood compares to other nearby New Jersey cities.