Enhancing your home’s energy efficiency isn’t just good for the planet—it could also pump up your property’s value by as much as £55,000. As we head towards summer, many Brits are seizing the chance to make their homes more sustainable, aiming not only to trim down energy bills but also to boost their property’s market appeal.
According to the latest findings from Smart Energy GB, one in five British households plan to invest in energy-efficient home improvements within the next year. These upgrades aren’t just trendy; they’re proving financially savvy too. Over the past twelve months, popular choices have included draught proofing, which 31% of homeowners have opted for, boiler upgrades (29%), and the installation of better insulation (28%). Additionally, a significant 3.3 million smart meters have been installed across the nation.
These green enhancements are largely driven by the desire to cut costs, with nearly half of Brits (49%) citing reduced energy bills as their primary motivation. Moreover, 23% are encouraged by the potential increase in their home’s value that such upgrades can facilitate.
The Financial Impact of Eco-Friendly Upgrades
Research from Rightmove reveals that improving your home’s Energy Performance Certificate (EPC) rating from an F to a C could elevate its value by up to 15%. In real terms, this means an increase of around £55,848 for the average home. Victoria Bacon from Smart Energy GB highlights the role of smart meters in this economic uplift. She notes that they are installed at no additional cost and can significantly help in managing and reducing day-to-day energy usage, thus lowering bills over time.
Real Savings and Rewards
Homeowners using smart meters report saving an average of £139.68 annually by monitoring their energy consumption in near real-time. These devices also provide access to initiatives like the Demand Flexibility Service (DFS), offering financial rewards for reducing energy usage during peak periods.
Top Tips for Energy Efficiency Upgrades
Smart Energy GB, in collaboration with MoneyMagpie, suggests several effective ways to enhance your home’s energy efficiency:
- Solar Panels: Not only do they reduce your energy bill, but they also improve your EPC rating and add significant market value to your property.
- Double Glazing: Upgrading to A-rated double-glazed windows can save you around £135 annually, with potential savings increasing to £235 with A++ rated glazing.
- Compare and Contrast: Always get multiple quotes from local tradespeople before committing to significant investments.
- Thermal Curtains: These can be homemade by attaching a PVC shower curtain behind your existing curtains and then adding a lining. This setup helps prevent heat from escaping, maximising your home’s heat retention.
- Smart Meters: Installing a smart meter can lead to better financial management and eligibility for energy reward schemes.
The Future of Home Valuations
Tim Bannister, a property expert from Rightmove, anticipates that the energy efficiency of homes will play an increasingly critical role in future real estate decisions. He explains, “Our analysis shows that there’s a green price premium on top of local house price growth when people sell homes with green improvements. This trend is expected to grow stronger, influencing buying and renting decisions significantly.”