Member News: Edinburgh homeowners could add £17,000 value to their home
Bayes Centre member Snugg has revealed that nearly half (45%) of Edinburgh’s homeowners could make ‘dramatic’ energy efficiency improvements in a comprehensive new study.
Their report reveals that 110,000 homes in the city have an efficiency rating of lower than C, with 22% of these able to improve their rating by at least two bands. Upgrades would save on energy usage and costs in the short term, plus add nearly £17,000 to the value of some properties in the long term, the first locally focussed report of its kind has revealed.
Snugg’s report delves into the nuances between property type and what can be done to help combat skyrocketing energy costs. The study splits Edinburgh’s housing stock into five different ‘tribes’, including:
- Georgian homes (Gorgeous Georgians)
- Tenements (Toasty Tenements)
- Bungalows (Breeze Free Bungalows)
- Post-war builds (Mid-Century Marvels)
- New builds (Nifty New Builds)
With tips for each property tribe, Snugg is at the forefront of a campaign to help Edinburgh’s homeowners save money on their energy bills in the short term, and add value to their property in the long run, all whilst reducing their home’s carbon emissions. The suggestions take into account things like the building’s age and heritage status through to feasibility and effectiveness of adding insulation.
Robin Peters, CEO and founder of Snugg, said:
It’s no secret that energy costs have skyrocketed in the past year, and even with governmental support they’re set to hit our pockets hard.
Our research sought to understand the options Edinburgh’s homeowners have when it comes to making their spaces more energy efficient - and the financial implications of these in both the short and long term.
There’s no silver bullet or one-size-fits-all approach - that’s why we’ve split our research out into different housing ‘tribes’, catering to the various possibilities Edinburgh’s homeowners have when it comes to making energy efficiency changes.
We know that the upfront costs of making energy efficiency changes to your home can be daunting. But, as our research has shown, the benefits far outweigh the costs when the increase in property value is factored into the equation.
Knowing where to start with making your space more energy efficient can be hard. But with Snugg, it’s possible to get a personalised plan, estimated costs and even recommended installers to make the changes in just minutes - the benefits are dramatic. It’s a no-brainer.