An ‘attractive’ modernisation can add £11,000 to the value of your home and make buyers ‘more likely to make an offer’.
An energy-efficient property lets potential buyers breathe a sigh of relief.
Experts give you tips on how to improve your energy efficiency, including a modernisation that could increase its value by more than £10,000.
Not only is this more valuable, but it can also encourage others to make their offers more quickly, say real estate lawyers at Jones Whyte.
They said: “Energy efficient homes are becoming increasingly attractive to buyers because of the potential long-term savings.”
A new boiler can bring added value
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“According to a report by OVO Energy, 35 percent of potential buyers are more likely to make an offer on a home with eco-friendly installations.”
Energy efficient homes help keep utility bills low and can save homeowners money in the long run. The experts gave examples of some cost-effective ways to achieve this.
“You can easily increase the energy efficiency of your property by replacing dazzling lightbulbs with LEDs, installing a smart thermostat and sealing any gaps around windows and doors to improve insulation,” they explain.
If you can invest more money in improving your energy efficiency, you may want to consider purchasing a new heating system before selling your home.
This can increase the amount people are willing to pay for your property by thousands of pounds.
They added: “If your budget is a little higher, consider investing in additional insulation or a more efficient heating system.”
“A new boiler costs on average £3,250, but according to GoCompare, owning one can increase the value of your property by four per cent.
“In addition, a new central heating system, which costs around £3,500 to install, can increase the overall value by four percent, which equates to £8,000 on a property worth £200,000.”
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Homeowners want to make sure they get the best price for their home
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With the average house price at £288,000 according to the latest ONS House Price Index, this could increase the value of an average property by £11,520.
The latest HPI found that house prices were higher in some areas than others, with Northern Ireland seeing the biggest increase.
House prices in the country rose 3.6 percent month-on-month and 6.4 percent year-on-year to an average of £185,025.
This was followed by Yorkshire and the Humber with an increase of 4.7 percent and Scotland, where home values rose by 4.3 percent.
