Can green home improvements add value?
With energy bills soaring, the advantages of improving energy efficiency are becoming evident to many homeowners seeking to reduce their outgoings.
Research* suggests that over a quarter (26%) of British homeowners want to carry out improvements in order to make their home more energy efficient.
Give your home a price boost
Not only could energy efficiency improvements make a huge dent in your annual energy bills (up to £1,878 according to a study from WWF and Scottish Power)**, but they could also add an average of £10,000 to the value of your home.
So, what are the top green home improvements and how much could they add to the value of your property?
- Air-source heat pump: £5,000 to £8,000
- Solar panels: £1,350 to £5,400
- Electric vehicle charging point: £5,400 to £7,400
The smallest actions can make a difference
Despite their clear long-term benefits, the cost of installing low carbon technologies can be prohibitive – the average installation cost of an air-source heat pump is nearly £11,000! Don’t worry – even the smallest actions can chip away at your energy bills and reduce your carbon footprint.
According to the Energy Saving Trust***, these are the top ten energy savers that you can try without splashing too much cash:
Keep showers to four minutes: £70 per year
- Avoid the tumble dryer: £60 per year
- Ensure appliances aren’t on standby mode: £55 per year
- Draught-proof windows, doors and floors: £45 per year
- Insulate your hot water cylinder: £35 per year
- Wash clothes at 30 degrees and less frequently: £28 per year
- Don’t overfill the kettle and fit an aerator to your tap: £36 per year
- Turn off lights when leaving rooms: £20 per year
- Only run dishwasher when full: £14 per year
- Replace baths with showers: £12 per year
Taken altogether, these actions could shave £375 per year off your bills!
**WWF & Scottish Power, 2022
***Energy Saving Trust, 2022
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.