Green living has become a big priority in recent years, with people consciously making an effort towards making their homes more sustainable. Whilst it helps the planet and saves money on bills, going green can boost the value of your house price too.
A recent study from Money.co.uk has found that homeowners could potentially add £29,000 to the price of their house by embarking on some easy eco-upgrades.
The research compared how much the environmentally-friendly improvements would cost and the potential 'added value' for each of those eco-features.
You will be surprised to know that some of the most cost-effective environment-friendly additions that buyers love are the ones that are the easiest and least labour intensive.
These easy upgrades include draft proofing, thermostat and energy metre installation, low VOC paint and energy-saving light bulbs and ceiling fans. The total added value of these six eco-improvements comes to over £15,000, a healthy return when the actual average cost of installing them comes to just over £1,000.
Eco-improvements home buyers value the most:
Draft proofing came up tops as the most lucrative eco-upgrade. According to Money.co.uk, the quick and easy upgrade of blocking areas that let in cold air added the most value (£3,200) in relation to its actual installation cost (£200).
Thermostat installation was second on the list, costing £215 on average to install but adding £2,790 to the overall value.
Third, on the list was a smart metre installation which can be done in under an hour and costs just £50, and on average can potentially add £2,746 of value to your home.
| Rank | Eco Improvement | Actual Cost (£) | Perceived Value (£) | Profit (£) |
|---|---|---|---|---|
| 1 | Draft Proofing | 200 | 3,208 |
3,008 |
| 2 | Thermostat Installation |
215 |
3,005 |
2,790 |
| 3 | Energy Metre Installation |
50 | 2,796 |
2,746 |
| 4 | EV Charging Point |
800 |
3,419 |
2,619 |
| 5 | Low-VOC Paint |
96 | 2,636 |
2,540 |
| 6 | Biodiverse Garden |
500 | 3,022 |
2,522 |
| 7 | Energy Star Ceiling Fans |
300 | 2,613 |
2,313 |
| 8 | Energy-Saving Light Bulbs |
175 | 2,469 |
2,294 |
| 9 | Tankless Water Heater |
937 | 3,163 |
2,226 |
| 10 | Evaporative Coolers |
550 | 2,759 | 2,209 |
The report also revealed the other green upgrades which cost more than their perceived value but add the least amount of money to your property.
Eco-improvements homebuyers value the least:
Topping the list was Geothermal heat pumps. Despite an average installation cost of £13,000, the study participants (2000 potential homebuyers) only valued a geothermal heat pump as adding £4,041 to a property, making it the least lucrative eco-home upgrade on the list.
Biomass boilers came in a close second as the worst eco-home upgrade that could potentially cost homeowners £4,459 – with the installation cost being around £8,000, but people valuing them at under half that price (£3541).
Green roofing, triple-glazed windows, air source heat pump and solar panels were also among the eco-improvements least valued by homebuyers.
| Rank | Eco Improvement | Actual Cost (£) | Added Value (£) | Profit (£) |
|---|---|---|---|---|
| 1 | Geothermal Heat Pumps | 13,000 | 4,041 | -8,959 |
| 2 | Biomass Boiler | 8,000 | 3,541 | -4,459 |
| 3 | Air Source Heat Pump | 8,000 | 3,712 | -4,289 |
| 4 | Green Roof | 5,300 | 3,366 | -1,934 |
| 5 | Triple Glazing | 4,400 | 4,540 | 140 |
| 6 | Rainwater Harvester | 2,500 | 2,665 | 165 |
| 7 | Cool Roof | 2,900 | 3,115 | 215 |
| 8 | Double Glazing | 3,500 | 4,210 | 710 |
| 9 | Solar Panels | 4,000 | 5,109 | 1,109 |
| 10 | High-Efficiency Boiler | 2,500 | 3,641 | 1,141 |
Are you inspired to make some green improvements to your own home? Let us know in the comments section below.
