How to Add Value to Your Home in 6 Energy Efficient Steps
When looking to sell your home, you want to get as much money as you possibly can for it. And with 63% of buyers looking to purchase a green, environmentally friendly home, the best way to add value to your home is to focus on energy efficiency (with a touch of luxury). [1] In fact, according to recent research by Go Compare and leading property experts, installing a new, energy efficient boiler could add as much as £6,000[2] to the value of your home!
We're going to let you know how you can improve the efficiency of your central heating system to potentially add value to your home and make it appeal to the modern, environmentally conscious buyer.
After making these changes, you could have not only added value to your home, but you may even reconsider moving altogether!
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1. Install a new boiler
The research by Go Compare and leading property expert, Henry Pryor, found that the most profitable home improvement a seller can make is by installing a new boiler at a cost of £2,000. It will add approximately £8,000 to the value of your home resulting in a profit of £6,000. Henry Pryor said:
“Most people who are thinking of selling their home or looking to improve it to add value will consider the merits of a trip to the DIY store, some will even consider doing some building work in the hope of adding value but not all buyers will be prepared to pay for your idea of improvements or good taste. Some buyers would even prefer to be able to put their own mark on a property and install the bathroom or kitchen of their choosing and may even pay for the chance to be able to do so. Most buyers prefer to pay for the opportunity to be able to add an attic conversion, kitchen extension or convert a basement.
“Getting planning permission to do the work is frequently the best investment you can make leaving the actual choice of layout, decoration and equipment to the next owner.
“Improving the green credentials of a house usually pays – a new boiler, insulation or energy saving measure along with security improvements will usually pay off.”
2. Install a hidden heating system
Potential buyers are viewing lots of houses and the vast majority of them will have radiators. So imagine if they walked into one that doesn't. The property instantly becomes memorable before they've even realised that they'll be benefitting from more space around the home.
Modern 'hidden' heating systems are not only space savers but are often seen as quite a luxurious way of heating the home. There are more and more 'hidden' heating systems appearing on the market that operate at low temperatures which also helps to save money on bills.
Underfloor heating
Hiding your heating system under the floor won't just heat your feet but the whole room in an economical way. Underfloor heating is the most popular 'hidden' heating system, especially in bathrooms, as it’s seen as being modern, cosy and luxurious. You can either install a wet system, which feeds hot water through the pipes or a dry system, which uses electricity. It can be fitted underneath many different types of flooring from laminate to carpet and if you don't want to completely part with radiators, you can have a combination of both around the home.
Skirting board heating
Skirting boards normally have the sole purpose of helping the aesthetics of a room by hiding the joint where the wall meets the floor. As heating systems have advanced, skirting boards can now serve a second purpose of heating the home. Find out more about skirting board heating.
In-Wall heating
This is similar to underfloor heating but rather than heating the floor, it heats the walls around you. Again, you can either install a water or electricity-based system, with the latter being the easiest to install but most expensive to run. The best time to install this heating system is during a renovation so if you're planning to redecorate before selling up, that would be the best time to install a heating system within the walls.
3. Ensure your heating system runs efficiently
You can have the best heating system in the world but if it's not running efficiently and heat is escaping then you're wasting a lot of energy and money is quite literally floating out the window.
So for that reason, it's extremely important to ensure that your central heating system is effectively and efficiently heating the home to increase its value. To do this, you want to make sure that heat isn't escaping and there's a few things you can do:
- Seal drafts
- Replace old windows
- Have your boiler serviced
- Install thermostatic radiator valves
- Insulate the walls, hot water tank and pipes
4. Lower your heating bills
An increasing number of potential buyers see lower energy bills as more important than having a garden, parking space and several other amenities. Implementing points 1 & 2 should help to reduce energy bills in themselves but there are even more steps you can take. One of which is to have renewable technology installed that will harness energy from renewable sources such as the air or sun rather than fossil fuels. Here are a few appliances you might want to consider: [3]
Air source heat pumps
An air source heat pump (ASHP) extracts heat from the air outside to provide your home with heating and hot water. You might be thinking that due to how they operate, you'll only be able to use them in the summer but some systems can operate in temperatures as low as -20°C.
Ground source heat pumps
A ground source heat pump (GSHP) provides homes with heating and hot water using natural heat produced below ground level via a series of underground pipes. While the appliance needs electricity to run, it will be emitting 3-4 times as much heat as the energy used to power it.
Solar panels
Solar PV panels are the most popular form of renewable technology, using solar radiation from the sun to generate electricity. This means that you won't need to purchase as much electricity from the supplier.
For even less reliance on the energy supplier, add a solar battery that will store any excess energy generated, ready to be used when needed like on particularly cloudy days or at night when the panels aren't generating energy.
Many people are turning to renewable heating such as air source heat pumps, ground source heat pumps or solar, but it can be a frightening prospect to consider giving up your boiler. If this sounds like you, hybrid heating might be the solution. That’s why we've created some guides to help you work out if hybrid heating is right for you.
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5. Make your home eligible for RHI
By installing some renewable energy systems in your home, such as solar panels or an air-to-water air source heat pump, your home will then be eligible to receive payments from the government. If you're still due to receive these payments when moving out, they can be passed on to the next homeowner which will make your home even more appealing.
Renewable Heat Incentive (RHI) payments
The RHI was set up as a way of encouraging homeowners to opt for renewable water heating technologies over those operated by fossil fuels. Eligible homes will receive quarterly government payments over 7 years. Appliances that meet the requirements are:
- Solar thermal panels (flat plate and evacuated tube)
- Air source heat pumps (air-to-water)
- Ground source heat pumps
- Biomass boilers
- Biomass pellet stoves with a back boiler
6. Go eco-friendly
A recent Redrow report found that an eco-friendly house can be sold for as much as 6% more than a standard property. One way to do this is by fitting your home with renewable technology such as an air source or ground source heat pump. [1]
Alternatively, you could keep on top of how much gas and electricity is being used at any one time by installing a smart meter. You'll be able to see how much is being spent in real-time, which will naturally encourage the home to be more conscious of the energy they're using. Most importantly though, bills won't be estimated and they'll only be charged for exactly what's used.
Start adding value to your home
So you know how you could be adding value to your home but how do you put these plans into action? Well, here at Boiler Guide we can put you in touch with up to 3 trusted heating engineers in your area who will provide quotes for the work we've mentioned above. By comparing 3 different no obligation quotes, you can decide which is the perfect deal for you and, best of all, it's completely free.
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Sources:
[1] Redrow: Homebuyers Willing to Pay a Premium to 'Go Green'
[2] GoCompare Property Investment Calculator
[3] Green Homes Sustainability Report and GOV.UK: Energy Saving Measures Boost House Prices
