The No.1 priority for homebuyers is buying an energy efficient property.
With many people focused on reducing energy costs, new homeowners are looking at energy efficiency of homes as a priority.
A new report from Santander highlights that homebuyers are prepared to pay more for energy efficient homes. So much so, that homebuyers stated in the recent survey, that energy efficiency of the home is now a more important than other features, like a bigger garden or off-street parking.
The study which included surveying more than 2,300 UK based homebuyers and owners, estate agents and mortgage brokers, found that buyers are placing an average 9.4 per cent premium on homes that have already been retrofitted with energy efficient measures, including, insulation, low energy lighting and renewable heating systems.
The Energy Performance Certificate (EPC) is a report which is completed on the assessment of the property, measuring the fabric, materials and heating system of the building, an EPC is valid for 10 years. The EPC report tells the homeowner how much it will cost to run the property, what the carbon dioxide emissions are and what steps can be taken to improve the property and make it more energy efficient which could result in lower energy bills.
In the battle for energy efficiency, the UK Government set targets that all homes should have an EPC rating of C or above by 2035. Currently only one in three UK homes meets this target.
The current government incentive, the Boiler Upgrade Scheme provides a voucher for £5,000 towards the cost of installing an air source heat pump, however the take up has been relatively slow, more attention is needed by the government to make progress to achieve the targets and to help reduce the reliance on fossil fuels in our current energy crisis.
An air source heat pump works at an average of 350% efficiency compared to a gas boiler working at 92% efficiency, so whilst energy prices have increased, you receive more energy for the cost p/kWh with an air source heat pump.
Homes which are not energy efficient take on average 4 months longer to sell than those which do have a good EPC rating. If you are looking to make your home more attractive to buyers, then a good (A-C) EPC rating for your home is adding value and making your home more desirable.
If you want to know more about air source heat pumps and how they make your home more energy efficient, give us a call on 01603 898904 or check our our FAQ pages.