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Thinking of Selling Your Home For a More Energy Efficient Alternative? You’re Not the Only One!
As the cost-of-living crisis continues to impact the nation, we conducted some new research which revealed some surprising insights into the property plans of UK homeowners. In fact, one in four (24%) said they’re planning to sell their home to buy a property which is more energy efficient*.
When looking for a new property, Brits say they would pay 15% more for a property which has an EPC rating of C or above. One in 20 (5%) surprisingly said they would spend an additional 50% or more. Two in five (40%) even admitted they wouldn’t buy or consider a character property because there is too much work to do to meet new green targets.
As part of the research, we also explored what the most important green features are for homeowners who are planning to buy a new property. Loft insulation, newly fitted double or triple glazed windows and a newly fitted boiler prove to be the most important.
10 most important green features homeowners are looking for when buying a new property:
- Loft insulation (54%)
- Newly fitted double/triple glazed windows (47%)
- A newly fitted boiler (45%)
- Cavity wall insulation (45%)
- Newly fitted double/triple glazed doors (43%)
- Draught proofing (40%)
- Energy efficient light bulbs (39%)
- Solar panels (35%)
- A recently renewed EPC rating of C or above (33%)
- Dual flush toilet (32%)
It goes without saying that the energy efficiency of a property is becoming increasingly important to homeowners and buyers alike. For homeowners, having a property which is energy efficient will ultimately help to keep energy bills down, while also increasing buyer appeal for those planning to sell. However, it’s surprising that so many homeowners are considering selling their property for one which is more energy efficient, rather than making home improvements.
Some energy efficient home improvements can be expensive but in the long term, they can help homeowners save hundreds, if not thousands of pounds on energy bills every single year. For example, up to 24% of the homes heat energy is lost through old, draughty glass and glazing. By upgrading windows and doors, homeowners can save, on average, £616 each year
When it comes to selling their current property, almost a quarter (24%) of homeowners are concerned that their property’s EPC rating will stop them from selling their property in the future. This means considering green home improvements rather than selling up could be an incredibly important decision.
