Description
Value You Can Measure
Shavertown homeowners have plenty strong reasons to upgrade their windows. Updating leaky windows, changing the design of your home etc… Certain such features can be calculated relatively explicitly.
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 Shavertown, will most probably experience major drops on daily costs for home energy. If you already have dual pane windows you could save about $115.47 compared to $116 in Philadelphia. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $290.73 every year, compared to $294 in Philadelphia.
Grow your Shavertown Home’s Resale Price through Energy Savings
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Switching your windows to EnergyStar rated National Vinyl windows may increase 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 ROI on energy savings on the market? Below is what we uncovered in Shavertown:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Shavertown, your home value could increase by around $692.83 and $1013.84 for a mid-tier or top-tier Shavertown home respectively. Compare this to, the same replacement in Philadelphia may get you somewhere between $696 and $1018.48.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Shavertown homeowners could see an estimated home value gain of between $1744.36 for mid-tier homes and $2552.57 for the top tier. Compare this to between $1764 and $2581.32 in Philadelphia.
Another way to look at it, a window investment in Shavertown can add anywhere from 0.39% percent and 1.45 % percent to the value of your home via 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 Shavertown homeowner is quite clear.
The variation between the range for Shavertown and Philadelphia, which for reference, would yield a potential premium range of 0.4% percent and 0.58% percent respectively, may come from a number of factors, primarily; the -0.05% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price range in the Scranton–Wilkes-Barre–Hazleton region, and heating & cooling cost differences between Shavertown and Philadelphia.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research done by the NAHB. Shavertown 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: Shavertown vs the rest of Pennsylvania
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