Value You Can Measure
Riverdale homeowners have a whole host good reasons to change their windows. Upgrading damaged windows, refining the decor of your home etc… Some such features can be quantified relatively exactly.
To start, windows conserve 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.
With regards to energy savings, houses in Riverdale, may experience considerable declines on monthly expenditures for energy. If you already have dual pane windows you could save around $116.97 compared to $100 in Atlantic City. By comparison, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $387.67 per annum, compared to $274 in Atlantic City.
Increase your Riverdale Home’s Resale Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows could increase the sale 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 find out : What’s the ROI on energy savings when it comes time to sell? Below is what we estimated in Riverdale:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Riverdale, your home value could increase by around $701.83 and $1027.01 for a mid-tier or top-tier Riverdale home respectively. For comparison, the same upgrade in Atlantic City could yield somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Riverdale homeowners may see an estimated home value gain of between $2326.01 for mid-tier homes and $3403.73 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Put differently, a window upgrade in Riverdale can add anywhere from 0.21% percent and 1.03 % percent to the asking price of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Riverdale homeowner is quite clear.
The variation between the range for Riverdale and Atlantic City, which for reference, would yield a potential premium range of 0.18% percent and 0.27% percent respectively, is derived from a number of factors, especially; the 1.89% 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 price differences between Riverdale and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and meticulous research conducted by the NAHB. Riverdale home value data is provided by Zillow.
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