Thinking of buying a new home? Get ready to shell out! New research shows that Brits are happy to spend big to make their homes more eco-friendly.
The average buyer is planning to spend £35,523 on doing up their new home, with 39% saying they’ll spend even more.
While everyone loves a lick of paint and some new furniture, it seems going green is a top priority for many. The Mortgage Advice Bureau reckons 22% of us are planning to install energy-saving gadgets, 20% want to stick some solar panels on the roof, and 18% are planning to pump up the insulation.
Green Homes, Cheaper Mortgages?
This fits with what the Mortgage Advice Bureau found last year – 36% of us think a good energy rating is important when buying a home. And despite the government dragging its feet on making energy efficiency rules tougher, lots of us realise that using less energy means saving money in the long run. In fact, 22% of us hope that making our homes greener will mean cheaper mortgages!
Help Needed to Make Green Dreams a Reality
But let’s face it, all these green upgrades don’t come cheap. The experts say the government and banks need to work together to help us out. Think better deals on loans, cashback for going green, or even just some good old-fashioned subsidies.
Ben Thompson, at Mortgage Advice Bureau, says: “It’s great that homebuyers want to make their homes greener, but we need to give them a helping hand. The UK’s homes are lagging behind the rest of Europe when it comes to energy efficiency, and we need to catch up fast to hit our climate goals.”
**What else are we splashing the cash on? **
Here’s the top ten renovation hit list:
- Decorating/Painting: 28%
- New Furniture: 22%
- Energy Efficient Fittings: 22%
- Solar Panels: 20%
- Insulation: 18%
- New Bathroom: 16%
- New Windows/Double or Triple Glazing: 12%
- Landscaping: 11%
- New Boiler: 11%
- Heat Pumps: 10%
So there you have it – we’re a nation ready to go green, but we need a bit of help to make it happen!