Are you considering selling your home soon?
If you’re thinking of moving to a new property, and selling up in the process, replacing your old boiler may not seem immediately important – it may actually be the last thing on your mind.
However, doing so could actually help you sell your home faster and even raise it’s overall value!
This is due to the fact that all homes for sale in Scotland now egally require a detailed home report, including an energy performance certificate (or EPC), that must be made available to prospective buyers.
In this blog post, I’m going to tell you how improving your home’s energy efficiency with a new boiler could mean the difference between receiving the ideal offer you need, or potentially having to wait months for a decent buyer to come along.
What you need to know about your EPC
Your energy performance certificate essentially details how much energy your home uses on a day-to-day basis, and gives your home an overall rating from band G through to A. The higher your rating, the more energy efficient the home, meaning household bills will also be lower.
EPC certificates were a fairly new thing just a few years ago, and were often looked upon with disdain as yet another hurdle to jump through for property owners. Now, they’re here to stay and buyers use them when assessing different properties and house styles.
There can be a massive difference in running costs for a stone-built, drafty, leaky property compared to a newer-built, highly efficient home. Also, with interest rates being so low, if people could save £100 a month on energy bills, they could use that to get a more expensive home and spread the mortgage over 20 years.
You also have to remember that when prospective buyers are looking at your property, they have to evaluate and take into account the costs of what they would spend to bring the property’s rating up, as opposed to buying a property which is already renovated or has had significant improvements carried out to reach a higher rating.
How much can a new boiler help?
When it comes to improving your EPC rating, investing in a new boiler is one of the most effective routes you can take, and could easily save prospective buyers quite a lot on heating bills.
Installing a new, high efficiency boiler could mean you’ll find your energy efficiency rating improving by around two bands – so if your property is currently rated G, it would become an E rating, and so on. However, the higher you get, the more difficult increasing your rating becomes, so jumping from a C to B-rating could be trickier.
TIP: For more information, read my blog post ‘How Can a New Boiler Improve Your EPC Rating?‘
You may also want to carry out other energy efficiency improvements, too, but if you’re looking to move home, there is a tipping point. For instance, installing loft and cavity wall insulation can be fairly easy and not too disruptive for a quick gain, however, replacing windows may be costly and require redecorating an entire room.
It also helps significantly if estate agents see you have an A+ rated boiler installed from a well-known premium brand manufacturer such as Worcester Bosch, Vaillant or Baxi – and a 10-year guarantee that can be transferred to the new owners is another great selling point.
Imagine buying a new property and having peace of mind for 10 years – meaning your central heating is one less thing you’d have to worry about!
Recouping the cost
What if I told you that you could even recoup the cost of replacing your old boiler by increasing the overall value of your home when it comes to sell? Many homeowners are finding this out for themselves, as replacing a boiler typically has the same effect as if they were to fit a new kitchen or conservatory.
Having a better EPC rating will also help you sell your home faster, so you could also argue that doing this one thing now could save you a lot of time and extra stress now – rather than thinking of it as adding extra expense or stress to your move. You could even say you’re doing yourself – and the buyer – a favour.
I once visited a client’s property which was up for sale, but unfortunately their boiler had to be condemned, They wanted a direct replacement with minimal upheaval, however looking at this I decided to recommend a high efficiency combi boiler. The client was apprehensive, but I assured her it wouldn’t take a lot of work.
The apartment was in the city centre, and it turned out that it was exactly what buyers were looking for; a combi boiler, no tanks and A-rated for energy performance. She was able to sell up quickly without any fuss, and she even recouped the cost with a bit extra to spare!
I hope this blog has been useful in helping you decide what’s best for your move; just remember not to spend a fortune on a new boiler. As long as it’s A-rated, it should do the job – also, remember to disconnect any old, inefficient fires, as this can also lower your EPC rating.
Trying looking at other properties that have sold in your area, and look at why they might have sold faster and been more appealing to buyers – I’ll bet you a good home report and EPC rating is a huge factor!
Any questions about improving your EPC rating with a new boiler? Just give me a shout, or leave a comment below – I’ll be happy to help!