Smart technology has transformed how we live and attracts a premium when the time comes to sell your home.

Smart home, smart price!

We have completely transformed our homes and the way we live with smart homes helping us to live a greener, more connected life.

According to recent research, properties with a high EPC rating can add as much as 16% to the sale price.

Making our homes greener is critical in ensuring Scotland reaches Net Zero by 2050 – as outlined at COP26. To that end, the UK and Scottish government are encouraging all homeowners to have an EPC rating of C by 2035, and all homes being rented out will be required to have a high rating.

When you sell your home, you’ll require an Energy Performance Certificate (EPC) for your property. The higher the rating, the cheaper the energy bills, and so it can affect the value of the property. It can even affect the mortgage rate on the property as mortgage lenders offer incentives by way of lower rates, reduced fees or a higher borrowing capacity.

It’s believed that over the next ten years, having a high EPC rating will be just as important as fast broadband, location and décor, especially as it could become difficult to secure lending on a poorly rated home – or at least the rates could be much higher.

Ways to improve your EPC rating

Having green credentials is becoming increasingly critical when it comes to selling. For homes that have poor levels of insulation or inefficient heating systems, it could mean that the asking price will be negotiated for a discount. Features such as solar panels and air or ground source heat pumps are highly desirable features and are often searched for on property portals, helping your property get seen by the right people ready to buy.

The following changes can improve your EPC rating:

• Double or triple-glazed windows
•        Energy Efficient boiler
• Air source heat pump
• Ground source heat pump
• Hybrid Air source heat pump
• Biofuel fireplace
• Cavity wall, loft and flooring insulation
• Solar panels
• Electric car charge point

Solar panels and air or ground source heat pumps have been more popular in Rightmove’s keyword sort tool on Rightmove. Searches for solar panels went up from position 500 in November 2020 to position 98 in June 2022, and heat pumps are now 190 compared to 1,000. Search terms such as ‘low carbon’, ‘sustainable’ and ‘renewable energy’ are being used more frequently by estate agents in property descriptions. Buyers are becoming more aware of renewable energy sources and green home improvements – and homes with these features can achieve high asking prices.

Sellers could reap the rewards for getting in early to make improvements as long as they make the right ones. If these changes aren’t made, they could have to factor in reductions to their asking price if the green features don’t match their buyer’s expectations.

Sellers with green home features can add around 16% to the value of their property, and this is in addition to the house prices rising since the pandemic.