Want to sell your home for the best price? A green makeover could be the answer, according to new research. Forget fancy kitchens and trendy bathrooms, it’s your home’s energy efficiency that’s attracting buyers and boosting prices. Financial experts Morningstar have crunched the numbers, and the results are clear: a greener home means a bigger profit!
Green is gold
So how much can you expect to pocket for going green? On average, homes with an A, B or C EPC rating – that’s the highest energy efficiency rating – can fetch £3,643 per square metre, compared to just £3,508 per square metre for those with an E, F or G rating.
That’s a whopping £13,000 difference on the average UK home!
The greener, the better? Not necessarily!
While a high EPC rating is a big plus, there’s a sweet spot when it comes to price increases. The research shows that homes with a low EPC rating see the biggest boost in value after an energy efficiency upgrade. However, the higher the starting EPC rating, the smaller the price bump you’re likely to see.
What does this mean for you?
If you’re selling:
- Invest in energy efficiency upgrades: Think insulation, double-glazing, and energy-efficient appliances. These improvements will not only help you sell your home quicker, but also put more money in your pocket.
- Focus on the ‘bang for your buck’: Investing in upgrades on a property with a low EPC rating will likely yield the highest return on your investment.
If you’re buying:
- Don’t dismiss homes with a lower EPC rating: They could be a bargain waiting to be discovered.
- Factor in the potential for upgrades: Think about the future value of the property once you’ve made it more energy-efficient.
The bottom line is: greener homes are in demand and command higher prices. So, if you want to maximise your property’s value, don’t ignore the importance of energy efficiency.