Retrofit: Add value to your property
Retrofitting your home now can fetch a higher price when it’s time to sell.
Retrofit isn’t just for families who’ve already found their forever home. Improving the energy efficiency of your property can boost its resale value, helping you move on when the time comes.
In one of the largest ever studies of its kind, the World Wildlife Fund (WWF) and ScottishPower investigated how Low Carbon Technologies (LCTs) impacted property prices. The research project found that home improvements such as heat pumps, solar panels and electric vehicle chargers can increase the value of a home.
Find out more about how to retrofit your home
As awareness of the climate crisis grows, more and more people are looking for ways to reduce their own carbon emissions. The 2022–23 energy crisis also raised people’s concerns over the unpredictability of energy bills. Such considerations now come into play when people are deciding on their next home.
This could help explain some of the findings in the WWF and Scottish Power’s report.
The research shows that an energy efficient home, fitted with renewable technologies, can achieve:
- Savings of £1,634 per year on energy bills
- A 95% reduction in C02 emissions
In terms of individual upgrades, the report found:
- An air-source heat pump could boost a home’s value by £5,000-£8,000
- Solar panels could add around £1,350-£5,400 to the sale price
- An electric vehicle charge point could improve value by around £5,000
- In combination, the value of a house could be boosted by an average of around £10,000 considering all energy efficiency measures
When these energy efficiency improvements are taken together, retrofit could increase the value of a home by an average of £10,000.