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Homebuyers start to prioritise energy-efficiency in property search

Christina Hoghton
Written By:
Posted:
08/02/2022
Updated:
21/02/2022

The rise in energy costs and the climate crisis are causing buyers to focus on the green credentials of a property

Features such as double glazing and insulation have moved up buyers’ wish lists, according to a mortgage broker survey of buyers.

According to the results of the survey by First Mortgage, buyers are choosing to prioritise features that can save them money on the costs of running a home.

The broker found that features such as double-glazed windows (27%), roof insulation (21%) and a modern kitchen (32%) were the top three features first-time buyers want on their future property.

David McGrail, First Mortgage’s compliance director, said: “I’d strongly encourage all buyers, who are looking to move shortly, to consider the practical, often overlooked features such as double glazing, roof and cavity wall insulation.

“Having a home that is energy efficient is going to become more important than ever this year as the price of heating rises to levels not seen before.

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“When looking to buy you should be looking at what the home has in place already that will help with the energy efficiency of the property. Estate agents will be able to let you know what Energy Performance Certificate (EPC) rating the home has. A good rating could save you hundreds per year in energy bills.”

With energy prices rising it is understandable that many buyers are willing to pay extra for features that will help combat the cost of energy rises. Although many first-time buyers have set aside £4,782 for renovations to their property, most will be hoping to use this for making a house a home.

However, it’s not all about practicality with first-time buyers also willing to spend thousands over the asking price of their first home for certain cosmetic features.

Style priorities

According to the survey, a third of first-time buyers would be happy to splash out £1,355 on a walk-in shower, whilst a quarter are willing to pay over £1,500 for a kitchen island. However, other in demand features also include bi-fold doors where Brits would be happy to spend £1,765 to have these as part of their first property.

McGrail explained why buyers shouldn’t to get too excited about aesthetics and instead look at the bricks and mortar your money is buying.

“As nice as a hot tub or walk in shower might be, they are not necessities when you are looking to make an investment. But it is interesting to see what features are top of first-time buyers wish list.”