Simple tricks to boost your property’s value by £25,000 revealed
Improving the energy efficiency of your home could significantly improve its value, according to new research
HOMEOWNERS looking for ways to increase the value of their property could benefit from improving their energy rating, according to research by MoneySuperMarket.
By making some simple changes in the home, you could the value of the property increase by almost £25,000, has revealed.
The energy efficiency of your home is currently measured using an EPC (Energy Performance Certificate).
This is based on the letters A to G, with A being the most efficient property and G the least.
MoneySuperMarket found that by raising your home's rating to an A or B can boost its potential sale price by 14 per cent.
This will particularly have an impact on property prices in the North East, where home owners could benefit from a 38 per cent price property price rise by increasing their rating from G to A.
But if you're based in the South East, it may not have any significant affect.
Where in the country could energy saving measures boost house values?
HERE are the locations where homeowners could benefit from improving their energy rating from D to A or B, according to MoneySuperMarket:
- Lichfield in Staffordshire - The average EPC rating is only a 'D' so people could see their property value increase by £24,766
- York - Sellers could see their property value rise by £23,684
- Bristol - Properties in Bristol could rise by £21,923
- Worcester - Improvements could result in a £21,028 increase in property values in Worcester
- Exeter - Homeowners could add £20,769 to their house price
So how do you improve the energy efficiency of your property?
According to MoneySuperMarket, one of the smallest things you can do is replace your traditional light-bulbs with energy saving ones.
You can get these for less than a fiver per bulb from stores such as Asda or Wilko, so this is a quick and cheap way to save energy.
You could also consider installing insulation around your water tank and pipes.
The Energy Saving Trust recommends these as a way to reduce the amount of heat lost from your water tank.
Insulation costs from around £15 from most DIY stores and you can fit it around the pipes and water tank yourself.
There are also some longer-term investments you can consider, for example getting cavity wall insulation installed.
This type of insulation helps to keep warm air in and also reduces condensation inside the home.
The cost of cavity wall insulation varies depending on the size of your home, but you could expect to pay around £465.
This may sound a lot, but it is a cost that could pay for itself, with a potential saving of around £160 a year on your energy bills.
It's also worth checking how long you've had your boiler for, as newer models can also significantly improve the efficiency of your house.
This could cost an average of £2,435 to replace depending on the type of boiler and if you are changing its location in your home.
Furthermore, by reviewing your EPC, you can find out more specific ways to improve the energy rating for your home.
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It could cost on average £77.50 to see your EPC alongside tailored energy saving advice, so it's worth shopping around for different quotes as prices can vary.
If you are looking for further ways to to increase the value of your home, we've also rounded up some of the renovations you should avoid doing.
We've also revealed the four cities where house prices have risen by more than 50 per cent over the past 10 years.
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