Improving your home value through energy efficiency
With today’s importance on environmental consciousness, energy efficient homes are achieving higher prices on the property market. Energy efficient homes are priced at a premium because their ‘green’ upgrades offer both reduced utility bills and avoided maintenance expenses. These higher premiums also reflect the improved quality of life that green upgrades can offer homeowners, from health benefits to enhanced in-home comfort. Residential energy efficiency is an investment that yields financial benefits in the form of both immediate monthly savings as well as future profits when the house has been sold.
What is the Energy Performance Certificate (EPC)?
The Energy Performance Certificate (EPC) is required when selling or renting a property and includes a rating given to the property on a scale of A to G. It measures the quality of the property’s energy efficiency and includes recommendations on ways a property can be improved to cut fuel bills, improve efficiency and reduce carbon emissions.
Benefits of selling an energy efficient home
Energy efficient homes are growing in popularity, with sellers highlighting the benefits of efficient upgrades in the face of rising energy prices. When the time comes to sell your house, you should inform your estate agent or solicitor of the energy efficient measures that are now a part of your home’s infrastructure. Details of upgrades such as insulation or draught-proofing will be passed on to future owners, along with their energy savings. In addition, these upgrades distinctly improve habitation comfort within the home and can be a potential selling point.
How energy efficiency improves home value
While it is still a work in progress, growing evidence reveals that greater energy efficiency translates to higher home values. This correlation is increasing over time.
Unlike improvements such as adding a bedroom or updating a kitchen, which are typically expected to add value, the value of energy efficiency improvements relates to energy cost reduction. This means that a given reduction in energy use, whether the result of a major improvement or a simple (i.e. low cost) one, can have the same impact on home value. The reason for this is that regardless of how the energy cost was reduced, the lower cost of energy means the homeowner has more monthly budget available for other expenses, such as a bigger house. Energy-efficient homes produce immediate positive cash flow for home buyers because the reduction in monthly fuel bills more than offsets the higher monthly mortgage payment needed to finance such investments.
Andrew MacKenzie is a qualified Chartered Surveyor with over 20 years’ experience within the Scottish Property market. He specialises in all types of residential valuations including Home Reports, Private Valuation reports and Development Appraisals.
Excellent service, from start to finish. I would highly recommend using the Home Report Company if you're selling a property - admin team are quick to respond to emails (even at the weekend), easy to book an appointment, and altogether offer a seamless service.The surveyor Andrew was exceptionally knowledgeable, thorough, and friendly. Also incredibly fast at finalising the home report.Gold service, very reasonably priced, and would absolutely use again.
22:50 01 Dec 21
The service from start to finish has been excellent, knowledgeable and very fast to ensure we got our property on the market quickly.
BOB SCORED A TAP I.
20:59 27 Nov 21
Sellers really need to seriously consider using this Company for their HR. Brilliant service from the admin team to the surveyor. Couldn't do enough for me and made you feel part of the process.Absolute bargain compared to going through estate agent then local surveyor.Gold star service.Alan Collins
08:58 05 Nov 21
This is my third transaction , I am still impressed with the service, efficiently, professionalism of this Company, highly recommended
19:22 01 Nov 21
Excellent Company for home report in the Scotland. Really very fast and professional. Thanks
18:24 01 Nov 21
Efficient, reliable and timely communication and production of home report for our flat sale.
17:25 08 Oct 21
06:56 02 Oct 21
17:33 24 Sep 21
Andrew is extremely thorough and knowledgeableWe had two properties and negotiated a good priceAny errors were corrected quickly and without question
19:57 05 Sep 21
GREAT COMPANY ,VERY PROFESSIONAL, EXTREMELY EFFICIENT, RELIABLE ,SECOND DEALINGS, AND NOT DISAPPOINTED , HIGHLY RECOMMENDED