Summit-New Jersey Savings

Improve your Summit Home’s Value through Energy Savings

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Replacing your windows to EnergyStar rated National Vinyl windows can add to 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 figure out : What’s the premium for energy savings when selling the house? The following is what we discovered in Summit:

Another way to look at it, a window investment in Summit can add between 0.19% percent and 1.13 % 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 upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Summit homeowner is relatively strong.

The variation between the range for Summit and Atlantic City, which for reference, would yield a potential premium range of 0.12% percent and 0.17% percent respectively, can be estimated from a number of factors, notably; the 6.76% percent difference in median home prices, a buyers’ willingness to pay more for energy savings at a given price point in the New York-Newark-Jersey City region, and energy cost differences between Summit and Atlantic City.

The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research performed by the National Association of Homebuilders. Summit home value data is provided by Zillow.

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