There are plenty of ways you could go about increasing the value of your property and making some money.
Perhaps the most obvious of these is by extending the premises, say for an extra bedroom or bathroom.
But did you know you can increase value by an incredible £25,000, just by improving the energy efficiency of your home?
New research from the Department of Energy and Climate Change (DECC) shows that on average, improving your home’s energy band from a G to E or D to B could add over £16,000.
In the North East and North West of England the price increase was steepest, with a rise of £23,000 to £25,000 recorded.
Energy efficiency can be bettered in a number of ways, from improving loft lagging and cavity walls, to installing double glazing or replacing your old boiler. Before selling, your home is given an Energy Performance Certificate (EPC) rating of between A and G and all of these efficiency factors come into play.
DECC researchers say: “House price is driven in the main by location, size and dwelling type. But price is also influenced by many other attributes that determine the condition and quality of the accommodation.
“Many of these attributes, such as double glazing, modern space and water heating systems, improve energy efficiency and so it is not surprising that there is a positive relationship between price and the energy efficiency of a dwelling.”
As the energy rating of a household increases, so does the valuation. A and B rated properties sold for an incredible 14% more.
According to the DECC, 93% of properties sold are in the C, D and E bands, so there’s still plenty to do to ensure you’re benefiting from top energy efficiency. Also, older properties have the lowest energy ratings as you’d probably expect, with new insulation not fitted.
If you’re looking to save some money on your bills then energy efficiency is crucial. You can save a small fortune and as the research shows, will increase the value of your home a tremendous amount.
Facts & Figures You’ll Love To Share
- 93% of properties sold in the UK are in the inefficient C, D and E bands.
- Properties given an energy rating of A or B sold for an incredible 14% more.
- You can add £25,000 to the value of your home by improving the EPC rating with energy efficient upgrades.
- Add £16,000 to your home by moving up two energy bands; from an E to a C, or D to a B.