AS energy bills soar, budding buyers will want to do a little known energy check before purchasing a house to save them THOUSANDS.
The nation is set for a miserable winter, with energy bills expected to rocket to £4,799 a year on average in January.
1
By April, this could spike to an eye-watering £6,089, consultant Auxilione predicts.
If you’re looking to get on the property ladder, make sure the home you’ve got your eye on is energy efficient.
You could save an average of 52% off your annual energy bill by picking a greener home, as opposed to one that needs a lot of home improvements, according to Zoopla.
A quick check can tell you if the home you’re buying could be saving you cash on your bills or making them soar, mortgage company Coreco technical director Nick Morrey said.
Ask to see the property’s Energy Property Certificate report, which rates how efficient properties are from A (the best) to G (the worst), he said.
In it will be suggestions on green improvements for the house – which will save money on your bills in the long-run, Nick said.
You might already be clued up on this report – but with so much paperwork to get through, make sure you don’t overlook it in the buying process.
“As the cost of living crisis has been caused by wholesale energy price increases around the world, take a good look at an EPC report to see how energy efficient a property is and how to keep those costs down,” he said.
Most read in Money
Nick is one of the experts on our Squeeze Team panel – here to help you through a crippling cost of living crisis.
If you’re worried about how to make ends meet, are struggling to pay off your debts or don’t know how best to manage your cash, get in touch by emailing [email protected].
What is an EPC report?
Every home rented, sold or purchased since 2008 has an EPC, which is logged in a report.
It takes into account things like double glazing, draught proofing and loft insulation.
Homes with a rating of D or lower are seen as the least efficient and will use more energy, meaning higher bills.
Recent analysis by The Sun found that 9.7million homes have an EPC rating of D or lower – around 57.3% of homes in England and Wales.
Every home for sale must now have an EPC rating, and these are often included in listings so you can check before viewings.
How much could you save?
Looking at this report could save you thousands in the long-run, Nick said.
“The report itself will have recommendations and the likely effect those changes could have on the energy efficiency of a property,” he said.
“Some recommended changes can be quite costly – like the addition of solar panels or a new gas boiler or double glazing – but others not so much, like replacing old light bulbs with new efficient ones or just laying down loft insulation.”
Just making a few small changes doesn’t mean you need to shell out a shed load – but it could save you hundreds.
You can purchase 100mm thick insulation roll for £20 for around eight metres – you’ll typically need three layers of rolls to really notice the difference.
It could save you up to £300 a year on your energy bills.
Draught proofing your home could save you money – and it doesn’t have to cost your a penny.
Putting clingfilm over your windows could save you £10 a month, while stuffing old towels or socks against the doors to avoid cold air coming in could save £30 a year.
If you think that the running costs of your home will be too high – or it could cost more than you’re willing to pay to make it more efficient – then you might want to reconsider going through with a deal.
“Doing the right research now could save you hundreds of pounds a year,” Nick said.
Another property expert outlines the most common four questions budding buyers are asking.
Here’s another expert’s top tips for selling your home.
