Buyers are now more conscious than ever about seeking energy efficient homes. So to maximise the value of your property improve its building energy rating (BER)
Why has the BER of a property become so important to buyers?
People have a better knowledge of the importance of environmentally friendly homes and buyers are looking at the long-term savings associated with energy efficient homes. Furthermore, some banks are now offering more favourable mortgage rates for energy efficient homes.
The good news is that making your home more energy efficient has become easier with the recent release of the updated BER advisory report by the Sustainable Energy Authority Ireland (SEAI).
The new report is easier for homeowners to read and understand and provides a 3 step approach on how to prioritise your upgrades so that each step builds on what has been done before. That way, if you decide to carry out the first two steps you maximise the benefit from the work completed.
The first key step is to improve the insulation in your attic and walls. Also look at the performance of the windows and doors. The focus should be on getting it draft free and airtight.
2. Heating system
When the insulation is completed the next area of focus should be your heating system. Your BER report will indicate how your heating systems performing, and what improvements if any are required. Replacing an old inefficient boiler with a heat pump that uses renewable energy can make a substantial difference to your heating bills.
3. Generate / Renewables
The third stage of upgrade is to look towards renewable energy. This can be done through solar power for your hot water or electricity.
Your BER report also sets out how much improvements are likely to cost you. It is not a specific number but the report advises if its in the realm of under €5,000, from €5,000 to €15,000 etc.
While some homeowners will look at getting all the works done in one go. It is important to bear in mind that it doesn’t have to be the approach for everyone. When selling your property, you may have a specific budget to spent on improving the BER. By following the recommended 3 step approach the work you have done can be continued by the purchasers who will benefit from any improvements made.
When planning how much you want to spend on upgrading the BER before you sell the property, be sure to look at the grants available. https://www.seai.ie/grants/home-energy-grants/
It is important that you retain any details and documentation of works done to your home. These could be certificates, receipts, invoices or specification documents.
If your budget doesn’t allow you to undertake significant works in your property, there are simple measures that you can take to improve your BER such as:
In summary energy efficient homes are in high demand amongst buyers and thus will achieve premium prices. So if you want to get the best price for your property be sure to prioritise the BER.
If you would like more tips about how to maximise the value of your property , please get in touch, we would love to help you.