We’re told time and time again that going green can save you money, but did you know it can also increase the value of your property?

Green buildings are gaining in popularity with more people looking for ways to save on energy costs, but how does this increase your property value?

Well, by making the property more energy efficient it means utility bills will be lower for tenants ultimately making your property more attractive to buyers and renters.

Also, green buildings are usually built with higher-quality materials and construction methods, so the property will last longer adding to its value.

Not to mention more of society is becoming concert about environmental issues, so properties that are eco-friendly and sustainable will be more of high demand in the future.

Key steps to making your property eco-friendly

  • Implement energy-efficient measures – This could include anything from installing LED lighting to purchasing solar panels for your property. You will save money on utility bills by using less power which these products will help you do.
  • Install a smart meter – This provides you with a real-time view of your gas and electricity consumption and access to a wider range of tariffs, which can help you optimise your energy usage and save money.
  • Look at your insulation – Draught-proofing your property can make it more energy efficient, reducing your carbon footprint and your bills. Draughts are most commonly found at windows, doors, open chimneys, old floorboards, and worn-out extractor fans, so be sure to monitor these areas.
  • Upgrade the boiler – If you’re not ready to switch to renewable energy technologies, upgrading to a modern, energy-efficient boiler could be an alternative.
  • Practice sustainable gardening – If your property has an outdoor space, make it eco-friendly by planting native plants and a wildflower patch to help improve air quality and make the property more attractive.
  • Sustainable lifestyle – Whether it’s yourself or tenants living in the property you should encourage a sustainable lifestyle. This me using recycling bins, installing electric vehicle charging points and even having a compost bin.

Financial benefits to going green

We’ve already mentioned a few of obvious reasons that going green saves you money, like saving energy means less money spent on bills.

Other financial benefits include a reduction in maintenance costs. By ensuring your property invests in durable materials and has modern appliances, you can reduce the number of times something may need to be fixed or replaced. This results in a greater return on investment for the landlord.

Whether you start with simple steps like recycling boxes or make a significant investment in a renewable energy source for your property, every action towards creating a greener property is a positive move.

Consider eco-friendly upgrades as an investment rather than just another expense. This isn’t just about enhancing your personal wealth.

Yes, the energy-efficient improvements will increase your property’s appeal and value, but they’re also an investment in our planet’s future, protecting the environment for generations to come.

Energy Performance Certificate (EPC) rule changes

The government had originally proposed that new tenancies would need an EPC rating of C by 2025, or 2028 for those with existing tenancies. These changes have been scrapped.

So, for now, the EPC rules for landlords require an E rating or higher, but changes could be introduced if a change in government is made with intentions to help the UK meet its net zero carbon emissions target by 2050.

Therefore, landlords can no longer let or continue to let properties covered by the MEES Regulations if they have an EPC rating below E, unless a valid exemption is in place. Failure to obtain an EPC prior to leasing or selling your property is not a criminal offence but could result in a fine of between £500 and £5,000.

If you need more information about EPCs or other legislation affecting rented properties, you can contact an accountant for advice.

Funding improvements to your property

To make energy efficient improvements to our property to bring it to at least an EPC E rating, you will never be asked to pay more than £3,500.

If you need to spend more than this to make the necessary improvements, you can apply for an exemption following making the improvements up to this amount.

There are various grants and government schemes available to help you make your property energy-efficient, including the boiler upgrade scheme.

To find out about the grants you may be eligible for, you should seek professional advice from an accountant to make sure you are accessing all the assistance available to you.

To find out more about how you make your property green, get in touch.