Buying a new build property certainly has its advantages, with the first advantage being higher energy efficiency. Since these homes are newer in nature, they are usually equipped with energy-efficient appliances, smart technology and digital thermostats all of which can eventually reduce energy bills drastically. In fact, post the Covid-19 pandemic, the demand for energy-efficient homes has increased, and these new build homes are environmentally friendly which is what makes them so popular among new buyers and first-time buyers, according to estate agents in Doncaster. But, how much money can you really save on energy bills with a new build home in the UK? This is what the experts have to say.
According to a report by the Home Builders Federation (HFB), due to the Government’s Energy Price Guarantee scheme that is all set to increase in April 2023, homeowners could save a whopping £3,100 annually on a new build home in the UK. Compare this to an average saving of a second-hand home, and new build owners can save around £260 per month. With that being said, the HBF also reported that approximately 85 per cent of all new build homes in the UK have been given an A-B Energy Performance Certificate for energy-efficiency rating whereas only around 4 per cent of existing homes have the same energy-efficient rating. That means almost 8 out of every 10 new build homes will have this A-B Energy Performance Certificate, whereas only 4 out of every 100 existing properties will have the same rating.
As per Stewart Baseley, the executive chairman of HBF, the energy crisis in the UK is distinctly highlighting the relationship between energy-efficient homes and cost savings. Energy-efficient homes and environmentally friendly homes are a big priority for homeowners, investors and first-time buyers, and this demand will continue to rise. For one, the financial savings on these new build energy-efficient homes explain the increasing demand. With the cost of living crisis in the UK economy, homeowners and buyers are looking to benefit and save now and in the future.
So, what makes new build homes so energy efficient? For one, these homes are built with energy-efficient heating systems, water-efficient appliances and fittings and high-quality insulation. What’s more, most of these new build homes come with air pressure testing which is used to lock in the heat along with double-glazed windows and high-specification doors to trap the warmth. Not only do these energy-efficient fittings reduce energy bills, but they also prove to be a much green choice in the long term. According to another report by the HBP, new build homes emit around 1.4 tonnes of carbon every year whereas existing properties emit over 3.6 tonnes of carbon every year, making the difference more than double.
As per the government data, new build homes on average use just around 103kWh/m2 worth of energy whereas existing homes and older properties use around 294kWh/M2 worth of energy, or more. If we use these figures, then a new build homeowner will have to spend around £443 on energy bills whereas an older homeowner will have to spend over £1,072 on energy bills. If we break this up, new build homeowners will probably have to pay £276 for heating, around £108 for hot water and a mere £60 for lighting and electricity. This means new build homeowners could save over £600 a year, which could easily cover a month’s mortgage payments or any other monthly expenses.
Experts believe that new build homes are certainly more energy-efficient than existing homes, which is beneficial to the homeowner as well as to the environment. While homeowners are having hundreds and hundreds of pounds every year on energy bills, their green choices are also allowing the environment to be better. Also, since energy bills in the UK are expected to rise with the ongoing inflation, new build homeowners and households will reap the benefits of their greener choices now and in the future. And, as builders and developers aim for more energy-efficient homes in the future, it is safe to say that the new build industry will pave the way for a better tomorrow. In conclusion, it is safe to say that new build homeowners can save hundreds of pounds annually on their energy bills which is the need of the hour with the expected rise in cost of living prices.