Buyers could enjoy considerable savings on their living costs in 2018 by being more savvy when it comes to the energy efficiency of their prospective new home.
A report published by the Home Builders’ Federation has revealed that opting for a new build property could save homeowners money in the long term.
According to Energy Performance Certificate data, more than eight out of 10 new builds have the top A or B rating for energy efficiency compared to just 2.2 per cent of existing properties. Government data shows that as a result, new homes are using on average 103kWh/m2 worth of energy compared to an average of 294kWh/M2 for existing homes.
This means that new build homeowners will spend on average £443.30 a year (£276 heating / £108 hot water / £60 lighting), well under half of the £1,072 the owner of a less energy efficient home can expect to spend – saving, on average, £52 a month, or £629 a year, points out Barratt Developments Yorkshire East, ( including Barratt Homes and David Wilson Homes brands).
The report also explores what the savings equate to, and how owners of new build properties could choose to spend the money they are saving, for example:
- Buy a season ticket at their favourite Premier League football club;
- Pay their monthly broadband and mobile phone bills
- Take a return trip to New Zealand
- Buy a latte coffee from Starbucks every working day of the year
- Cover almost a month’s mortgage costs
With fuel costs having already increased by around 36 per cent in the past decade, and likely to increase even further, new homeowner savings are likely to grow. And with housing accounting for nearly 30 per cent of the UK’s energy use, new build homes are also delivering significant benefits for the environment.
In accordance with modern regulation, house builders are driving energy savings and cutting carbon emissions through a combination of innovative design and more efficient materials; for example, by installing boilers that only give you hot water when you need it, fitting modern double glazing filled with argon gas, using quality insulation in the roof and walls, and by creating sophisticated water drainage systems.
Paul Newman, Managing Director at Barratt Developments Yorkshire East, said: “Buying a new property is a big decision, and buyers should thoroughly research the potential upkeep and running costs of any house purchase.
“We’re committed to building properties that are energy efficient, which helps homeowners manage their usage and avoid the additional costs of upgrading that can come with buying an older property.”