Value You Can Measure
Union Beach homeowners have many strong reasons to upgrade their windows. Fixing damaged windows, revamping the look and feel of your home etc… Other such benefits should be counted relatively explicitly.
For starters, windows retain about 72.3 percent of their initial purchase value in New England according to the Remodeling 2020 Cost vs. Value Report. This places windows among the top 5 home improvement investments in terms of value retention.
As for energy savings, homeowners in Union Beach, will most probably see major reductions on annual spending for electricity. If you already have dual pane windows you may save about $114.21 compared to $100 in Atlantic City. Whereas, when replacing single-pane windows to National Vinyl’s EnergyStar rated windows you could save about $369.15 per annum, compared to $274 in Atlantic City.
Build your Union Beach Home’s Asking Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows can add to 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 estimate : What’s the premium for energy savings if you sell your home? The following is what we uncovered in Union Beach:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in Union Beach, your home value could increase by between $685.23 and $1002.73 for a mid-tier or top-tier Union Beach home respectively. For comparison, the same upgrade in Atlantic City may get you somewhere between $600 and $878.
Single-Pane to National Vinyl
When upgrading from low-efficiency single-pane windows, the potential is even greater. Union Beach homeowners may expect an estimated home value gain of between $2214.88 for mid-tier homes and $3241.11 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Put differently, a window upgrade in Union Beach can add anywhere from 0.23% percent and 1.1 % percent to the asking price of your home by way of the energy efficiency premium buyers have shown a willingness to pay. Combined with the aforementioned +72.3% retained initial worth of your windows, and National Vinyl’s lifetime warranty, the value proposition for a Union Beach homeowner is quite strong.
The variation between the range for Union Beach and Atlantic City, which for reference, would yield a potential premium range of 0.2% percent and 0.3% percent respectively, is dependent on a number of factors, particularly; the 1.58% 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 price differences between Union Beach and Atlantic City.
The data presented is extrapolated from EnergyStar, the NREL,Department of Energy and incredible research conducted by the NAHB. Union Beach home value data is provided by Zillow.
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