Why Eco-Friendly Improvements Can Increase Your Home’s Value - thumbnail image

Why Eco-Friendly Improvements Can Increase Your Home’s Value

Many people use eco-friendly home improvements to save money on their energy bills in the short-term. However, few people consider that making such improvements can also make your home more valuable. Here’s some insight into why home improvements, like the Solar Panels Newcastle homeowners are installing, can boost their home’s market value

 

Homeowners are Becoming more Eco-Conscious

 

One of the main reasons that energy efficient homes are popular is that they are more eco-friendly. In fact, a study from Shakespeare Martineau found that more than 77% of homebuyers are considering a green home for their next purchase. Additionally, 39% of this group want a green home because it is better for the environment.

 

This is certainly reassuring news. It indicates that a high proportion of UK home buyers are keen to protect the planet and live in homes that allow them to reduce their reliance on fossil fuels. 

 

Because energy efficient homes are in high demand, they tend to have a higher market value. A recent survey from Admiral Money discovered that eco home improvements could increase the value of a property by as much as a quarter! 

 

Solar Panels were the most lucrative improvement according to the survey. Homes which had panels installed were valued 25% higher on average than those in the same area without Solar PV.

 

According to the survey, insulation was a close second when it came to boosting property value. Improving the fabric of your home through insulation could boost its value by as much as 22% in comparison to uninsulated homes in the same area. 

 

Buyers are in it for the Long Haul Savings 

 

Homes with energy efficient measures added tend to get a higher valuation than ones that don’t. This is because savvy home buyers are happy investing now to see bigger returns further down the line. 

 

These buyers might pay more for the home initially, but they will make back any additional money that they have invested quickly. The reason for this is that they will not need to use as much energy to heat their homes and, as a result, their energy bills will be lower. 

 

In other words, if it costs less to heat a home, then its inhabitants will save money on energy each month. This means that they will see a return on their investment as time goes by. 

 

As there is no sign of energy costs coming down any time soon, buyers who act now to purchase an energy efficient home are likely to see a return on their investment more quickly than ever before. 

 

Convenience is King

 

Another reason why people are more willing to pay a premium on a home with energy efficiency solutions already installed is convenience. 

 

Quality energy efficiency measures are fairly low maintenance and long lasting. However, if buyers have the chance to move into a house without having to install energy efficiency measures themselves then they will probably take the bait. This is because having the installation already completed will save them time and money. 

 

Where do Market Values Increase the most after Eco Home Improvements? 

 

According to Money Supermarket, the region where homeowners can boost their property value the most through improving their energy efficiency is (Drum roll please!)…  

 

The North East of England! 

 

If a North East-based property improves its energy efficiency rating on its Energy Performance Certificate through making improvements, its value could increase by 12.2%. This roughly increases the property value by £16,219 on average. This is excellent news for homeowners considering installing Solar Panels in Newcastle and other parts of the region like Durham, Sunderland and Teesside. 

 

Where to go for Solar Panels in Newcastle

 

Whether you’re interested in using eco-friendly improvements to get your house ready for the market, or just to reduce your energy bills, make us your first port of call. At Thrift Energy, we offer an extensive range of eco-friendly home improvements including solar packages, insulation solutions, boiler upgrades, air source heat pumps and more. 

 

These solutions, including the Solar Panels Newcastle households have installed by Thrift Energy, are installed with care and expertise. We also only use the highest quality products, meaning that it has never been easier to make long-term energy savings. 

 

We offer funding and finance which can make these improvements even more affordable too. Get in touch with us to learn about energy efficiency options for your home and to check if you are eligible for funding today! 

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