HOME & GARDEN: How much energy efficiency measures can add to the value of a home
By Tim Phillips, quantity surveyor at the National Homebuilding & Renovating Show (23-26 March, NEC, Birmingham)…
Introducing energy efficient measures to your home can increase its value by up to 15%, making it more attractive when it comes to selling. When selling or renting a property an EPC (Energy Performance Certificate) is required which shows the rating of the property from A (highest) to G (lowest). Improving your property’s rating by adding energy saving measures is now more important than ever with the current fuel crisis. Here are 5 measures to consider:
- Insulate, Insulate, Insulate! You’re paying a lot more than last year to heat your home, so why waste this heat by letting it seep through your roof. Insulating or topping up your loft insulation to 270mm is a job that can be done on a DIY basis for as little as £220. This energy saving measure will improve your EPC rating, and may offer a saving to prospective buyers of up to £160 a year.
- Heating – That 20-year-old boiler used to be extremely efficient when you first moved in, sadly time has caught up with it and it’s costing a fortune to run and repair. Installing an A-rated combi-boiler for around £1200, which usually come with a minimum 5-year warranty and also a smart thermostat e.g. Hive, Nest, etc. will improve your homes energy rating immensely, increasing its value, decreasing the bills and making it more desirable to future buyers.
- LED Lighting – A relatively cheap measure, which is often overlooked and simple to carry out yourself, is replacing your standard light bulbs to energy efficient bulbs such as LED. For a typical 3-bedroom house expect to pay under £100.
- Windows – Changing your existing single-glazed inefficient windows to double or even triple-glazed will keep the heat in and improve your EPC rating. The value of your home will also be increased by the attractiveness of the new windows too. Expect to pay around £6,500 to replace all the windows in a four-bed detached house with 15 standard uPVC windows (read here more (New window costs: Find out what to budget for new glazing | Homebuilding)
- Solar panels – Producing your own electricity through renewables, is not just energy efficient but it’s also very trendy. One of the best-known methods is by installing solar panels. A typical UK roof would start from around £5000 upwards, however the government recently allocated £4 billion to renewables, including solar panel (and also heat pump) installation through the ECO (Energy Company Obligation) Scheme. This means that there will be a greater likelihood of solar panel incentives soon to assist with the initial financial investment.
Take a look at government websites for energy saving grants and loans. Some are means tested whilst others are on a first come, first serve basis. It all helps to improve your homes energy efficiency and increase its potential value!