Description
Value You Can Measure
Swoyersville property owners have a multitude excellent reasons to change their windows. Repairing old windows, refining the style of your home etc… Other such values should be counted rather explicitly.
Firstly, windows preserve about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This puts windows among the top 5 home improvement investments in terms of value retention.
In terms of energy savings, houses in Swoyersville, may have important drops on daily costs for electricity. If you already have dual pane windows you could save around $111.84 compared to $116 in Philadelphia. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you may save about $268.22 per annum, compared to $294 in Philadelphia.
Grow your Swoyersville Home’s Value through Energy Savings
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Switching 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 estimate : What’s the return on investment on energy savings when it comes time to sell? Below is what we found in Swoyersville:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Swoyersville, your home value could increase by around $559.2 and $743.73 for a mid-tier or top-tier Swoyersville home respectively. For comparison, the same upgrade in Philadelphia could add somewhere between $580 and $771.4.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Swoyersville homeowners may yield an estimated home value gain of between $1341.12 for mid-tier homes and $1783.69 for the top tier. Compare this to between $1470 and $1955.1 in Philadelphia.
Another way to look at it, a window upgrade in Swoyersville can add between 0.5% percent and 1.6 % percent to the asking price of your home via the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Swoyersville homeowner is quite clear.
The variation between the range for Swoyersville and Philadelphia, which for reference, would yield a potential premium range of 0.52% percent and 0.69% percent respectively, is dependent on a number of factors, particularly; the -0.4% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Scranton–Wilkes-Barre–Hazleton region, and heating & cooling cost differences between Swoyersville and Philadelphia.
The data presented is derived from EnergyStar, the NREL,Department of Energy and extensive research performed by the National Association of Homebuilders. Swoyersville 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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