How buying an energy-efficient home can save you money
With energy bills at an all-time high, the efficiency of a new home has become an ever-growing concern for buyers. Data shows that one in four buyers now consider energy efficiency as ‘crucial’ when choosing a new home. The good news? Research from the HBF reveals that new build houses will save owners an average of over £3,100 in annual energy costs from April 1st when the Energy Price Guarantee increases. But how exactly does buying a new home save you money?
As part of the government’s Clean Growth Strategy (2017), a target was set for as many homes as possible to have EPC (energy performance) ratings of C or higher by 2025. This means that many older homes would need to be retrofitted with insulation and new materials to meet this target. New homes however benefit from modern building techniques that make them inherently more energy efficient from the ground up. This is why more than 80% of newly built homes have an A or B EPC rating, while only around 2% of older homes have the same.
Richard Cohen, CEO of St Arthur Homes, said: “With rising energy costs and household bills barely out of the news at the moment, it’s no wonder that so many people are concerned about choosing a home which will be a solid and cost-effective investment for the future.”
“Buyers of a new build apartment save an average of just over £1300 each year, with those savings rising to £3100 annually when we just look at houses. Those savings are substantial and will mean a lot to first-time buyers when times are tight.”
Not only do new homes save you money, but they also have less impact on the planet. Environmental standards dictate the way developers build new homes, including the materials and methods used. The result of modern building standards is new homes built today produce far fewer carbon emissions than older properties.
Richard Cohen said: “Many of us are aware of our carbon footprint and are making strides to live in a more sustainable way. One of the best things any of us can do when it comes to meeting those concerns is to go for a new build home, rather than an older property.
“New build homes emit a third of the carbon of an older property, reducing carbon emissions by over 500,000 tonnes. That’s a vast amount, and a way we can all play our part in contributing to the country’s progression towards net zero.”
Buying new and saving money on your energy bills is vital at a time when the cost of living is climbing. Visit our developments page to see what we have to offer through Shared Ownership.
Have any questions surrounding the efficiency of our homes or Shared Ownership? Get in touch with us on social media @wearestarthur.