The world is changing rapidly. The focus of climate change and what we need to do to address this challenge is creeping into almost every part of our daily lives. Home owners will be affected by the major energy efficiency changes that are coming our way. We need to be aware of these changes, especially if we are think of buying, selling or renting our homes.
The best way of assessing the energy efficiency of your home is to obtain an Energy Performance Certificate (EPC). It is now a legal requirement that all properties to be sold or rented must have a valid EPC. This summarises the main elements of a property which may contribute to its efficiency and also provides some information about what homeowners can do to improve this rating.
EPC’s were introduced for domestic property in 2007 as a part of the Home Information Pack, and became mandatory for anyone wishing to build, sell or rent a residential property. For many years they were not considered particularly important or relevant. Apart from making comparison, they made no real difference to value or the ability of owners to sell or rent their property. That all changed in 2015 when the Government introduced a mandatory requirement that property offered for rent must have a minimum EPC rating of ‘E’. It has meant that some landlords have had to upgrade their properties. The impact so far has not however been too significant, as most properties can achieve this rating fairly easily and at minimal cost.
Be aware though, there are much tougher requirements on the horizon. The most notable being the desire by Government to raise the minimum EPC rating for domestic rented property from ‘E’ to ‘C’ in 2025. The devolved governments also have aspirations of applying more efficient ratings to the sales and rental of all domestic property over the next few years.
If we look at the Climate Change Committee website, and in particular, a study which has just been published by Lancaster University, we can see the sort of proposals to be expected over the next few years. These include:
Add to this the current price of energy and it’s not hard to conclude that the energy efficiency of a home will play a much more important role in its future saleability and value. We are heading towards a world where the value, and even saleability of a home is determined by its energy efficiency. People need clear, reliable and detailed information on the changes which will be needed to their homes in order to achieve these goals. It has never been more important to get good advice.
At Avery & Co, as well as offering professional survey and valuation services for home buyers and sellers, we are also accredited Domestic Energy Assessors (DEA’s) and can provide clear and impartial advice on the energy efficiency of your home.
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