Value You Can Measure
Seaside Park residents have plenty strong reasons to change their windows. Updating old windows, changing the look and feel of your home etc… Certain such benefits should be quantified quite explicitly.
To start, windows preserve 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, homeowners in Seaside Park, should experience considerable decreases on daily expenditures for energy. If you already have dual pane windows you may save about $130.91 compared to $100 in Atlantic City. On the other hand, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $481.06 per annum, compared to $274 in Atlantic City.
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Build your Seaside Park Home’s Value 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.
In addition, many buyers are willing to pay a premium for energy savings. Here we try to ascertain : What’s the return on energy savings when selling the house? This is what we estimated in Seaside Park:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Seaside Park, your home value could increase by around $1382.46 and $1927.85 for a mid-tier or top-tier Seaside Park home respectively. Compare this to, the same replacement in Atlantic City could yield somewhere between $1056 and $1472.6.
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Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Seaside Park homeowners could expect an estimated home value increase of between $5080.01 for mid-tier homes and $7084.11 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
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In other words, a window investment in Seaside Park can add between 0.27% percent and 1.39 % percent to the value of your home through the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Seaside Park homeowner is quite strong.
The variation between the range for Seaside Park and Atlantic City, which for reference, would yield a potential premium range of 0.21% percent and 0.29% percent respectively, may come from a number of factors, principally; the 3.43% percent difference in median home prices, a buyers’ likelihood to pay more for energy savings at a given price range in the New York-Newark-Jersey City region, and energy price differences between Seaside Park and Atlantic City.
The data presented is derived from EnergyStar, the NREL,Department of Energy and incredible research performed by the NAHB. Seaside Park home value data is provided by Zillow.
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