Description
Value You Can Measure
Tamaqua residents have a multitude excellent reasons to replace their windows. Replacing leaky windows, refining the decor of your home etc… Some such values can be counted relatively accurately.
To begin with, 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, homeowners in Tamaqua, will most probably have major reductions on daily spending for home energy. If you already have dual pane windows you may save approximately $109.54 compared to $116 in Philadelphia. Whereas, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you could save approximately $253.98 per annum, compared to $294 in Philadelphia.
Build your Tamaqua Home’s Asking Price through Energy Savings
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Upgrading your windows to EnergyStar rated National Vinyl windows can increase the asking 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 find out : What’s the return on energy savings if you put your house up for sale? The following is what we estimated in Tamaqua:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Tamaqua, your home value could increase by around $547.7 and $728.44 for a mid-tier or top-tier Tamaqua home respectively. For comparison, the same replacement in Philadelphia may get you somewhere between $580 and $771.4.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Tamaqua homeowners may expect an estimated home value increase of between $1269.89 for mid-tier homes and $1688.96 for the top tier. Compare this to between $1470 and $1955.1 in Philadelphia.
Put differently, a window upgrade in Tamaqua can add between 0.78% percent and 2.4 % percent to the value of your home through the energy efficiency premium buyers have shown a willingness to pay. Add to this the aforementioned +72.3% retained upfront worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Tamaqua homeowner is relatively strong.
The variation between the range for Tamaqua and Philadelphia, which for reference, would yield a potential premium range of 0.82% percent and 1.09% percent respectively, is derived from a number of factors, particularly; the -0.62% percent difference in median home prices, a buyers’ propensity to pay more for energy savings at a given price range in the Pottsville region, and energy cost differences between Tamaqua and Philadelphia.
The data presented is based on EnergyStar, the NREL,Department of Energy and incredible research performed by the National Association of Homebuilders. Tamaqua 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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