Getting an Energy Performance Certificate is not only a legal requirement when selling a house, but a recent EPC survey can also help a seller achieve a better asking price, more quickly. It is particularly important to get an accurate EPC in London, where house prices are at their lowest point in almost a decade. EPC has become a buzzword in the property industry and has become an area of focus, especially as advice given to buyers looking to invest in a property. This means that sellers who are not energy savvy might be facing a lower amount of offers, and a reduced asking price. This article will look outline the ways a recent EPC can help a seller to conqueror the property market.
More Recent, More Accurate
Many advice blogs to buyers suggest they investigate the insulation that has been installed in attics, look for water leakage into from gutters into cavity wall installation as well as other featured areas of an EPC report. This often leaves these ‘wannabe surveyors’ over-reporting the wear and tear on the energy efficient features of property as they have been over-sensitised to the issue, have no formal training, and want the best deal on the house.
If a house has an old EPC, there is not a lot a seller can do persuade the buyers that there hasn’t been excessive wear and tear on the insulation or that the windows are indeed sealed properly. A recent EPC will give the seller a current and official account of the energy efficiency status of the house. This will not only dissuade buyer’s fears over the current EPC rating but also shut down any move to get a lower asking price. With a current EPC, the seller will have greater control in the sales process.
Domestic EPCS Maximises the Value of your Property
Quelling the fears of interested buyers and getting a better asking price is just one way of maximising the value of your property. Studies undertaken by the government and Cambridge University have found a positive correlation between house prices and the energy efficiency band. The increases are on average as follows: –
- F and E sold for approximately 6% more than band G properties
- D sold for 8% more than G rated properties
- C sold for 10% more than band G
- A/B properties sold for 14% more than G rated properties.
An EPC report comes with a recommended improvement list that details all the recommended improvements, the price of the improvements as well as if any grants available to reduce your costs. This could mean you could increase your price without inflating your cost.
So, of the smaller repairs could be fixed easily and cheaply and increase the sales price while the small reduction in price could cost less than a repair in the long run. This handy recommendation and improvement is an excellent way to see what invests will give you a greater return on your property.
Recent Domestic EPC increase a Properties Appeal
An increase in EPC grade boosts sales as buyers are looking for more energy efficient homes. As homes with a clear EPC investment plan shows the potential and the costs the buyer will have will have a clearer budget in mind for improvements. This will result in a larger number of buyers being interested in the property. With a large number of offers, you can ask for a little more on your asking price.
Having greater appeal will help sell your house quicker as more people will be wiling to put in an offer.
An EPC Provides Agents with a New Way to Sell
The EPC gives estates agents a whole arsenal on way to sell a property. The could talk about the low-cost LED lighting that will save them £200 pound a year or how the insulated walls will keep them snug and warm while saving them money. If there are not many improvements left to make on the property than the agents can begin talking about extra holidays they can afford this year, or the fact low cost improvements could save them money with minimal investment. This report will give your agent many ways to sell the house.
People Love Getting Something for Nothing
For some buyers getting a deal or bargain can be the difference between a buying and walking away. Buy leaving a low-cost EPC on the improvement list you can throw this in for ‘free’ to convince them they are getting more from their money.
Need an extra quiver to help sell or get the best deal on your property? Get in touch with our assessors today and let us show you what we can do.