Will retrofitting increase the value of my home?

We’ve been talking to homeowners and we’ve found that energy efficiency is very much on their minds when contemplating buying a new home.

When asked how important energy efficiency would be in their search for a new home, it came second only to location, location, location. In fact, not only would they be actively looking for a home with a good EPC rating and green technology such as solar PV — they’d actually pay more for it.

Estate agents across Shropshire and Herefordshire agree, saying that properties with higher EPC ratings and solar PV are getting more viewings, selling quicker and commanding higher offers than their conterparts. And they’re in short supply.

Research by Knight Frank shows that an increase in value of up to 20% is possible when improving a property from an EPC F to a C https://www.knightfrank.com/…/2022-10-11-improving-your…

And it’s not really surprising.

Since 2022 Future Ready Homes has surveyed more than 200 homes across the Marches region and found that an average of 50% savings on bills and 82% carbon savings are possible from a whole house retrofit. For some that’s a saving of less than £500 per year, for others, nearer £5,000!

We’ve surveyed everything from listed solid stone cottages, to 1960’s cavity-built bungalows, to black and white timber frame homes. Some homeowners wanted to identify how to save the most money on their bills, others were looking to save carbon, and many wanted to make their homes draught free, warm and cosy.

Typical recommendations include beefing up your insulation to reduce energy demand, switching from fossil fuels to a green heating system such as a heat pump, and where appropriate generating electricty with solar PV. Exact measures recomended are very much bespoke to the home and the needs and wants of the owner.

So what does this mean for people considering retrofitting their home? Regardless of whether your not so distant plans include a house move or downsize, or not, retrofitting can still be the right choice for you. You get the immediate benefits of a reduction in energy bills and increased comfort, plus the security of knowing you’ve invested in increasing the value of your home.