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September Property Market Update
Increasing your house value through energy efficiency
Adam Nanson from Your Mortgage Expert provides the September Property Market Update. Here he talks about how you can increase your house value through energy efficiency.
“According to latest figures from Shakespeare Martineau, 77% of home buyers are more likely to purchase a green home for their next property. With the main incentives being it will be better for the environment and it will save money in the long run. The report also shows that 70% would be willing to pay more for more energy efficient homes and 68% would pay more for a home that uses renewable energy sources.
“With this in mind, it might be prudent to consider how energy efficient your property is when putting it on the market. And, to ensure your estate agent features highly any green measures you have in the property.
“One of the key features buyers will be looking at is the property’s EPC rating. An Energy Performance Certificate (EPC) is required when selling a property and includes a rating for the property from a scale of A to G. According to Money Supermarket, if your property has the highest “A” rating, this can add a potential extra 14% to the property’s value.
“If your property has a lower energy rating, it might be worth considering some simple fixes to improve this. Such as energy efficient light bulbs, installing insulation and other measures that are highlighted on your EPC certificate. Katy Esdon talks about some of these measures in her article in this month’s blog.
“As we get into winter and the true cost of energy becomes evident, these factors may well become more important. Especially as we look towards reaching Net Zero in 2050, energy efficient homes will be play an important part.
“So, if you are renovating your home currently, or fixing it up to sell in 2023, one of the elements that should be high on your list is making it more of a “Green home” or more energy efficient.”
If you have any questions regarding anything you have read in the September Property Market Update, please do not hesitate to get in touch.
The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. Your Mortgage Expert Ltd and Mortgage Advice Bureau cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation.
Source: https://www.moneysupermarket.com/gas-and-electricity/value-of-efficiency/
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