New research from energy supplier, OVO, has revealed that over two-thirds of Brits who are currently in the housing market are specifically after properties with green installations that improve energy efficiency and reduce carbon emissions – higher EPC ratings, in particular. Therefore, it pays to be clued up on the very things that can bring your EPC rating up that, in turn, will help add value to your home, too.
Recent data from Rightmove's Greener Homes report shows that improving the EPC rating of a home from F to C could increase its overall value by 15%, allowing homeowners to enjoy lower energy bills while occupying the property, then receiving a bigger payout when the time comes to sell their house.
However, the age-old question remains: which home upgrades actually help to boost your EPC rating? To help you get the most value out of your homes, OVO's energy experts have shared their top tips on the green installations to prioritise right now that promise the biggest cash in later on.
Green home upgrades that add value to your home
According to OVO, the home upgrades to focus on employing in your home to improve your EPC rating alongside their approximate costs are:
- Loft insulation (up to £900)
- Cavity wall insulation (£2,687)
- 10 solar panels, connected to mains (£6,300)
- Air source heat pump (£5,000 factoring in the government's BUS grant)
Should you consider employing all of these home improvements, you can expect a total installation cost of around £14,900. However, even the smallest steps such as starting with loft and cavity wall insulation can already bring your home's EPC rating from an F to E, which makes a huge difference in saving energy at home right off the bat.
According to OVO, by investing in all of these improvements, you can increase your home's EPC rating from an F to a C, which subsequently adds up to £44,672 to the value of a 3-bedroom semi-detached house (based on Rightmove's current average asking price of £297,811 for a property of this kind).
So, whilst Rightmove's Greener Homes report found that 60% of homes for sale on the site had an EPC rating of D or below, OVO's findings reveal that the motive from homeowners to increase their ratings for the future is clear.
The energy supplier found that 83% are willing to invest in going green, especially considering that 35% of prospective buyers say they would be more likely to make an offer on a home with eco-minded installations.
Commenting on these findings, Tim Bannister, Rightmove's director of property science remarks, 'We're still in the early stages of the journey towards greener homes, but the data and insights we have been collecting over the last few years have been encouraging. One of the trends that has been emerging is that sellers who have improved the energy efficiency of their homes can command a premium when the time comes to move.'
'It's going to be a really important year for innovations and the sharing of evidence-based data insights in this space,' concludes Tim. Therefore, by the looks of it, it seems as though the only way up as far as increasing the value of your home is to finally go green.
