Making energy-efficient home improvements more affordable would benefit sellers
Amidst the government's upcoming autumn budget, making energy-efficient home improvements more affordable can benefit sellers in several ways
1. Increased Property Value
Energy-efficient upgrades, such as improved insulation, double-glazed windows, solar panels, or energy-efficient heating systems, frequently result in increased property values. Buyers are becoming more aware of energy costs, so properties with a high energy performance certificate (EPC) rating are perceived as more desirable. If sellers can afford to make these improvements, they can raise their asking prices.
2. Faster Sales
Homes with energy-efficient features sell faster because buyers know they will save money on their energy bills, which is especially important given rising energy prices. If such improvements are made affordable, sellers can invest in upgrades that will increase the marketability of their properties.
3. Broader Buyer Appeal
A growing number of buyers are environmentally conscious and prefer homes that reflect their values. Energy-efficient homes can appeal to a wider range of buyers, including first-time buyers and those looking to save money on utility bills in the long run. By making improvements more affordable, sellers can target this growing buyer demographic.
4. Reduced Negotiations Over Energy Efficiency
Buyers may request price reductions if the property has a low EPC rating or requires significant energy upgrades. When energy-efficient home improvements are reasonably priced, sellers can pre-empt these negotiations by improving the efficiency of their property before listing it, potentially avoiding price cuts.
5. Future-Proofing the Property
With ongoing government incentives and regulations aimed at improving energy efficiency, properties with low energy performance may face additional costs or restrictions in the future. Making energy-efficient improvements now allows sellers to future-proof their homes against upcoming regulations and market them as compliant, reducing buyer uncertainty.
