Description
Value You Can Measure
Shrewsbury residents have plenty valid reasons to upgrade their windows. Replacing damaged windows, renewing the design of your home etc… Other such features may be measured quite accurately.
First of all, windows retain 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.
In terms of energy savings, homeowners in Shrewsbury, may notice important drops on daily costs for energy. If you already have dual pane windows you could save approximately $134.35 compared to $100 in Atlantic City. On the other hand, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $504.07 per year, compared to $274 in Atlantic City.
Increase your Shrewsbury Home’s Resale Price through Energy Savings
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Replacing 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 estimate : What’s the return on energy savings if you put your house up for sale? This is what we uncovered in Shrewsbury:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Shrewsbury, your home value could increase by between $1418.74 and $1978.45 for a mid-tier or top-tier Shrewsbury home respectively. Compare this to, the same replacement in Atlantic City could add somewhere between $1056 and $1472.6.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Shrewsbury homeowners could see an estimated home value gain of between $5323.01 for mid-tier homes and $7422.97 for the top tier. Compare this to between $2893.44 and $4034.92 in Atlantic City.
Another way to look at it, a window investment in Shrewsbury can add anywhere from 0.26% percent and 1.34 % percent to the value of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained upfront value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Shrewsbury homeowner is quite clear.
The variation between the range for Shrewsbury and Atlantic City, which for reference, would yield a potential premium range of 0.19% percent and 0.27% percent respectively, may come from a number of factors, primarily; the 3.82% 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 Shrewsbury and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and extensive research executed by the NAHB. Shrewsbury 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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