The potential cost savings of energy prices in a new build home
Energy bills are set to rise drastically in the upcoming months, which is why energy efficiency is now an important aspect to consider when buying a new home. The energy price cap will rise by 54% in April, affecting millions of homeowners across England, Scotland and Wales.
If you are considering moving homes, you may be surprised at how much you can save by buying a new build. According to the latest research from Warwick Estates, new build home owners can cut their energy bills by as much as 60%. They found that energy bills from older properties in England cost an estimated £797 per year, whereas new builds are estimated at £390 per year.
New build houses are known to be more energy efficient than older properties in the way they are built. They are designed with efficient materials and are far cheaper to run, which will dramatically lower your household’s energy bills and carbon footprint. According to a report by HBF, owners of new homes save on average £435 on household bills per property each year, totalling £112 million in savings. Their new build home produces a third of the annual carbon emissions produced by older properties, preventing 2.4 tons of carbon each year for every household.
The energy efficiency of homes has become increasingly important in recent years, due to the enhanced focus of environmental issues and the rise of energy prices. Builders have been adapting to new technologies, materials and regulations to construct new homes to be energy efficient. Owners of older properties will often find themselves facing extensive and costly retrofit to bring their homes to the same standard.
New builds are built to meet the latest environmental standards and therefore may include the following within their specification:
- High quality insulation
- Condensing boilers
- Solar panels
- Photo voltaic panels
- Double or triple glazing windows
- Low energy lighting
- Air or ground source heat pumps
- Smart controls for lights, heating and other appliances
Higher standards of insulation and double glazing are pretty standard with new build homes, meaning heat loss is reduced and the house is quicker to warm up in the cooler months, effectively saving you money on your heating bills as well as less energy being wasted. Ventilation is also improved, reducing the risk of condensation and mould is significantly reduced. Solar panels provide tremendous financial benefits with an average-sized house with 4kW solar panels can expect to save approximately £270 on electricity bills per year, according to The Renewable Energy Hub.
Although the rise of energy costs is out of your hands, there are a few ways to reduce your energy consumption and lower your household bills, whether you have a new build property or not:
- Turn your thermostat down and don't heat the rooms you're not in.
- Turn off standby appliances.
- Be smart about water - turn off the tap when brushing your teeth
- Use your washing machine on a 30-degree cycle instead of higher temperatures.
- Use energy efficient light fittings.
- When cooking, heat food in the microwave rather than the oven where possible.
- Make sure you fill the kettle with exactly the right amount of water – it will heat faster and not waste energy.
The Government is looking to new builds to move away from gas to low carbon heating from 2025 in order to reduce greenhouse gas emissions from homes. As we move towards a more energy efficient world, electric cars are also on the increase, and car charging ports are now an item to be considered to be built into a new home.
Aside from energy efficiency, there are other benefits to buying a new home. A lot of new builds come with a warranty which will cover the home against defects or structural damage for up to 10 years. Although this is a great benefit, the warranty does not cover accidental damage or damage caused by weather and natural events, therefore it’s important for new home owners to also have home insurance. New builds are often cheaper to insure than older properties. This is because they are usually built with the latest, most secure doors and windows, so there is less risk of a break-in. And having a brand-new roof, plumbing systems and electrical work means there is less risk of making a claim.
With the high efficiency of today’s new builds, running a new home may be more affordable than you think, and new home owners can enjoy living in a comfortable well designed home that meets the demands of modern-day living. Not only are new builds far cheaper to run they will also dramatically lower your household’s carbon footprint.
Speak to our New Homes Managers for more information about energy efficient new builds in your area.
Sources:
https://www.bbc.co.uk/news/business-58090533
https://newstartmag.co.uk/articles/research-shows-new-build-homes-can-reduce-energy-bills-by-60/
https://www.hbf.co.uk/news/new-build-homes-save-owners-629-a-year-on-energy-bills/
https://new-homes.co.uk/why-new-is-greener/
https://www.elmhurstenergy.co.uk/new-homes-are-the-most-energy-efficient-but-could-they-be-better
