New-build buyers will save on average around £2,600 a year in energy bills, research claims.
Analysis based on Government’s Energy Performance Certificate (EPC) data shows new-build properties can “significantly reduce” households’ energy usage, with the average new home using approximately 100 kWh per m2 per year compared with older properties which require an average of 259kWh per m2.
A new Watt a Save report, published recently by the Home Builders Federation (HBF), shows that in total, last year’s new build purchasers are saving more than £500m a on annual energy bills, with new build homes emitting a third of the carbon of an older property, reducing carbon emissions by over 500,000 tonnes.
New-build properties save an average of just over £2,000 per property each year, with the average annual running costs for a new build totaling £1,500 as compared to an average of £3,570 for older properties, the report found.
These savings rise to £2,600 a year when looking at new and old houses alone, rather than smaller properties such as flats or bungalows.
HBF is now urging lenders to further support homebuyers to make energy efficient and money-saving purchases by factoring in energy bill savings into mortgage calculations.
Stewart Baseley, executive chairman of the HBF said: “The energy crisis is highlighting starkly the efficiency benefits and cost savings provided by new build homes. Energy efficiency is a growing priority for house hunters and the financial savings clearly demonstrate why.
“In the face of the cost-of-living crisis we now need lenders to take these savings into account so that consumers can benefit further through cheaper mortgages.”
Five reasons to buy a new build
The benefits of buying a new build home are well documented.
Firstly, there’s the chance to own a home that has the very latest energy efficiency measures. That’s great news for the planet as well as for the buyer’s pockets as it will reduce energy bills – and who wouldn’t want lower energy bills these days?
Buying new also means buying chain-free. Given that one in five sales are falling through at present, being able to buy a home without fear of a chain collapsing makes the whole process far less stressful.
Families buying new builds also have plenty of scope to personalise their new home before they ever set foot in it. Rather than moving into a property decorated to suit the previous owner’s tastes, and that likely comes with a long list of DIY jobs, new build owners can design everything from flooring and tiling to kitchen surfaces and fixtures around their personal preferences.
The fact that newly built homes, such as those at Sky Plaza, come with appliances means that buyers can save money too. They won’t face the expense and hassle of having to source, buy and fit appliances the moment they move in – it’s all taken care of and included in your new home.
New builds often offer money-saving incentives, as well. As an example, at Sky Plaza, anyone who reserves a home with Help to Buy this month will receive made to measure curtains and blinds for their entire property – another significant cost saving.
Finally, buying a new build provides peace of mind as all new homes in the UK come with a 10-year build warranty.