How a Glasgow or Dunnon Home’s EPC Could Affect Its Value
What is an EPC and why does it matter? An Explainer for Buyers and Sellers
As ethical agents, we believe that the more information you have, the better.
In this article, we’ll demystify Energy Performance Certificates (EPCs) and look at how they can affect a home’s value.
What exactly is an EPC?
Every home put up for sale or rent must have a valid Energy Performance Certificate (EPC), issued within the last 10 years, to show its energy efficiency.
The idea is to help buyers or renters choose an energy-efficient home.
Qualified energy assessors’ issue EPCS following an inspection. They look at things such as the building’s construction, insulation, double glazing, heating, and even the type of light bulbs it has.
EPCs use a rating system from A to G.
A-rated homes are super energy efficient and should help keep your bills in check. G-rated ones are the most inefficient – cue thermal undies, hot water bottles and bills you avoid opening in winter.
Currently, homes can only be let out if they have an EPC of E or better.
(There are some differences in how EPCs operate in England, Wales and Scotland. But the overall purpose is the same.)
How could an EPC make, save or cost you money
There’s a growing pattern in the property market that’s worth paying attention to.
Homes with lower EPC ratings tend to be priced below more energy-efficient ones.
And while upgrading a property’s energy performance does cost money, it’s often less than the gap in value between lower-rated and higher-rated homes.
That creates an interesting dynamic.
For sellers, improving your EPC rating could help you achieve a stronger price and attract more buyers.
For buyers, there may be an opportunity to purchase at a lower price and add value over time through energy-linked improvements.
It’s not guaranteed, of course. But it’s certainly worth factoring into your thinking, especially with fuel price uncertainty dominating the news.
The ethical agent’s view
The value of a home is based on a very wide range of factors.
Yes, energy efficiency is important in these times of high energy bills. But things like size, location, condition, supply and demand, and even how far it is from the local school all need to be factored in.
Statistics can be helpful. But only an experienced local agent with a hands-on working knowledge of the local market can really advise on value.
If you’re considering selling and would like to find out what your home could be worth, please think of us first.
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