When you think about selling your home, the first thing that comes to mind is how to increase value before putting it on the market. While there are many ways of increasing value, energy efficiency measure have the potential of causing the value of your property to shoot. Click here if you are interested in a rough guide to how much your home may be worth for a quick cash sale.
Besides, the constant behind embracing energy efficiency, cutting down on the amount of carbon emissions in the airs and the spectre of climate change are some of the factors that are compelling homeowners as well as builders to strive for improvements in the area of saving energy.
In addition, you could think of energy emissions in terms of the ability to cut annual fuel bills for the ordinary households will definitely increase the value of your home. The energy prices are constantly rising forcing many people to see ways of keeping their bills at minimum. Consequently, a home that has the energy efficiency measures already implemented for such savings will be more attractive to buyers.
Evidence on the Relationship between Energy Efficiency and Property Values
The Department of Energy and Climate Change (DECC) that is now part of the Department for Business, Energy and Industrial Strategy supports the fact that energy efficiency improvements to a home are likely to increase its value by up to 14 percent. This figure is capable of going as high as 39 percent in some areas in the UK.
According to DECC, when a you upgrade your home’s energy performance Certificate by two bands, you are might add more than £16,000 to your home’s value with homes in the North East of England adding up to £25,000 in value.
Is the anticipated rise in house prices worth the energy efficiency measures?
On the face value, implementing energy efficiency measure is a costly undertaking. However, you will do well to measure the benefits of this investment in terms of a ten-year period. For instance, a ground source heat pump that extracts warmth from the ground and transfers if to the heating system at the cost of £9,000 that is representative of £900 annually.
Putting government subsidies and subsequent savings on the energy bills into perspective, this is a relatively lower annual cost. Biomass burner may be installed for less than £12,000 while solar panels cost £5,000 that is way below the expected amount in value. Thus, when compared to the potential rise in the value of your property, these energy improvements definitely make sound economic sense.
Besides, whether you are of the school of thought that climate change is man-made or not, you cannot escape the fact that property values across the UK are being influenced by the cost of energy. Remember, your house is not just a home rather an investment from which you can reap the rewards in future.