Description
Value You Can Measure
West Long Branch homeowners have a variety excellent reasons to upgrade their windows. Replacing damaged windows, renewing the decor of your home etc… Many such benefits should be counted quite clearly.
For starters, windows preserve 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, homes in West Long Branch, can expect to notice significant decreases on monthly bill for electricity. If you already have dual pane windows you may save around $129.39 compared to $100 in Atlantic City. In contrast, when upgrading single-pane windows to National Vinyl’s EnergyStar rated windows you may save approximately $470.82 per year, compared to $274 in Atlantic City.
Build your West Long Branch Home’s Resale Price through Energy Savings
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Replacing your windows to EnergyStar rated National Vinyl windows could increase 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.
Moreover, many buyers are willing to pay a premium for energy savings. Here we try to evaluate : What’s the premium for energy savings on the market? Below is what we discovered in West Long Branch:
Basic Dual-Pane to National Vinyl
If you already have dual-pane windows (non-EnergyStar rated), in West Long Branch, your home value could increase by around $776.32 and $1136.01 for a mid-tier or top-tier West Long Branch home respectively. Compare this to, 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. West Long Branch homeowners could expect an estimated home value increase of between $2824.95 for mid-tier homes and $4133.84 for the top tier. Compare this to between $1644 and $2405.72 in Atlantic City.
Another way to look at it, a window upgrade in West Long Branch can add between 0.16% percent and 0.85 % 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 value of your windows, and National Vinyl’s lifetime warranty, the value proposition for a West Long Branch homeowner is relatively clear.
The variation between the range for West Long Branch and Atlantic City, which for reference, would yield a potential premium range of 0.12% percent and 0.18% percent respectively, can be estimated from a number of factors, notably; the 3.27% 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 heating & cooling price differences between West Long Branch and Atlantic City.
The data presented is based on EnergyStar, the NREL,Department of Energy and professional research conducted by the National Association of Homebuilders. West Long Branch 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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Energy Savings & ROI: West Long Branch vs the rest of New Jersey
Find out how investing in new windows in West Long Branch compares to other nearby New Jersey cities.