With mortgage rates peaking and energy bills soaring, prospective homebuyers or those looking to move house face a number of issues in the months to come.
Despite the cost of living crisis, the housing market is still booming because of a squeeze in supply and a surplus in demand.
One of the factors to consider is the energy efficiency of the property.
Many could have a shock after moving into a home that is leaking heat due to poor insulation and a low EPC rating.
With the help of industry experts, I take a look at the things you should check before putting a deposit down.
A modern boiler or heating system
Replacing boilers or having them fixed can cost consumers thousands of pounds at any time, let alone in the cost of living crisis.
When looking at a home, it is important to check how old the boiler is and how often it has been maintained.
With energy prices continuing to rise, house-hunters are becoming more concerned about the power consumption of their potential future homes, highlighting that energy efficiency is one of the biggest priorities in 2022.
It is possible to greatly reduce the cost of heating your home by having a new boiler installed. Scheduled heating and controlled temperatures can help reduce the impact of increased costs.
Insulation
If you want your home to be warm in the winter and cool in the summer, insulation can be installed under the floors, in your loft, and in the walls.
The costs and savings associated with insulating your walls will vary depending on your house size and wall type.
Internal solid wall insulation for a semi-detached house will cost around £8,200 but could save you around £255 a year on your energy bills, according to the Energy Saving Trust.
The loft makes a huge difference.
A quarter of heat is lost through the roof of an uninsulated home. loft insulation can make a big difference and could save you hundreds of dollars a year, so another tip would be to ask about it.
If you are buying a cottage in the middle of nowhere, the insulation properties are very important, said Jeremy Leaf, an estate agent and a former RICS residential chairman. This may be less of a problem in a block of flats. Look at the windows, doors, and loft to see how insulated they are.
Look at energy bills for the property and check for any sharp changes in units used over time, rather than the last bill.
More action needs to be taken to insulate homes to keep energy bills down this winter.
Will Owen, an energy expert at Uswitch, said that insulating your home is one of the most significant ways you can save money on your energy bill.
We need a national drive to insulate homes as we did with COVID vaccines. Using less energy to heat our homes will make a huge difference to our bills.
EPC rating
The Energy Performance Certificate (EPC) gives information about the energy efficiency of the property, which should be considered by those looking to buy a property. The home will be rated on a scale of A to G, with the most efficient being A.
For 10 years, EPCs can only be carried out by accredited assessors listed on the government’s register. They should arrange this for you if you are using an estate agent.
If you are going to rent the property, you need a rating of at least E.
Anthony Jevons, director at Jackson-Stops Hale, said that almost all new-build homes are putting their energy-efficient credentials front and centre to appeal to today’s buyers.
Because of this, properties with a high EPC are more attractive to potential landlords, with the talk of change in legislation for a minimum requirement of a band C over the current band E
Self-builds are also common for this reason; the idea that you can build a home now than can actually generate surplus energy to sell to the grid When period properties have complicated set-ups or limited planning, a self-build can give homeowners the freedom that they want, both in design and to be bill-free.
To get a good indication of current energy performance and a list of its potential EPC rating, you should study the EPC.
Double and triple glazing
Many properties still don’t have double-glazed windows.
Reducing heat loss through windows is one way to make a home more energy efficient.
Depending on the materials and style, double-glazed costs vary a lot. The most expensive frames tend to be hardwood. According to the Energy Saving Trust, a set of A-rated windows for a semi-detached house will cost around £7,500.
The installation of A-rated double glazing to windows in an entirely single-glazed semi-detached gas-heated property could save homeowners over a hundred thousand dollars a year.
If you replace single-glazed windows with double-glazed windows, you could save up to 180k of carbon dioxide each year.
Small fixes
There are ways to make energy-efficient changes to a home that is less expensive.
There are things to look out for when looking at a new property, such as the installation of insulation or draught-proofing, which indicates the current owner has made an effort to improve efficiency and reduce heat loss.
These changes are positive, but they need to be maintained and may need to be replaced in the future.
There are small fixes to look out for that can help with efficiency, such as fitting any hot water cylinders with an insulation jacket and using light bulbs.
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