Many property owners view an Energy Performance Certificate (EPC) as nothing more than a tiresome formality, a box to tick before moving on to the more exciting things of real estate transactions.
As a property owner, you may believe that an EPC is just another regulatory requirement to comply with, however, there’s more to it than that. An EPC holds more value than you realise, and its impact reaches far beyond paperwork. It offers insights into your property’s energy efficiency, which is valuable for potential buyers or tenants.
EPC ratings scale from ‘A’ to ‘G’, with ‘A’ being highly efficient and ‘G’ being the least efficient. This rating can vary depending on various factors, such as the property’s insulation, heating system, lighting, and size.
As well as being a mandatory document, an EPC offers a multitude of other benefits for you as a property owner. This is especially true because potential tenants tend to consider EPC ratings for a property before making their decision. To help you understand its importance, we have compiled a list of four ways in which a good EPC rating can impact your property.
4 Ways in Which an EPC Rating Can Impact Your Property
1. Reduces Your Property’s Carbon Footprint
Carbon dioxide is a pressing environmental concern and one of the major contributors towards global warming. In the UK, a quarter of the total carbon dioxide emission comes from residential properties. These emissions are primarily due to the energy consumed for heating, lighting, and power.
One major advantage of obtaining an EPC for your property is that it can help you significantly reduce your carbon emissions and, in turn, your carbon footprint.
For example, if you have low EPC ratings, you can identify areas of energy inefficiency and take the necessary steps to make your property more sustainable. Any amount of increase in your EPC rating will mean that there has been a significant decrease in your property’s carbon emissions.
2. Increases Your Property’s Value
Your EPC ratings play a very important role in the real estate industry. If you are planning to sell or rent your property, the EPC rating for your property can significantly impact overall property value, therefore, you should actively implement measures to improve it. A high EPC rating is like an accreditation, stating that your property is energy efficient and environmentally sound for living.
A recent study has shown that improving your EPC ratings from a low G rating to a higher A rating can result in a remarkable 14% boost in property value. This improvement will not only attract investors and eco-conscious buyers but also help you to demand a more competitive price.
3. Attracts More Tenants for Your Property
A high EPC rating for a property acts like a magnet, attracting both potential home buyers and tenants. This pull can be credited to the skyrocketing costs of energy bills. Understandably, tenants and homebuyers are seeking properties with high EPC ratings as they understand that greater energy efficiency results in lower utility bills.
Furthermore, due to increased awareness about sustainable living, many people are choosing properties with improved EPC ratings to live a greener and more environmentally responsible lifestyle. This is why, improving the EPC rating for your property will both enhance your reputation as an environmentally responsible owner and increase the desirability of your property.
4. Helps Approve Your Mortgage Application
If your property has low EPC ratings, it may become difficult for you to secure a mortgage. In the UK, all residential properties are now required to have an EPC rating of C or higher by 2035. Moreover, mortgage lenders want to make sure the average property rating is at least C by 2030.
Naturally, this only means that mortgage lenders are expected to tighten their requirements about energy efficiency. If your property doesn’t meet the set standards, mortgaging or refinancing is likely to become harder for you.
Furthermore, if your property doesn’t meet EPC requirements and you are unable to make the necessary changes, lenders reserve the right to demand repayment of the loan.
Contact Gio Property Solutions for an Accurate EPC Rating and Valuable Recommendations
A good EPC rating that ranges between ‘A’ to ‘C’ can impact your property in many ways. Not only does it enhance your property’s overall appeal and value, it also allows you to enhance your property’s energy efficiency. However, obtaining your EPC from a reputed service provider is equally important to get the best EPC ratings.
This is where the skills and extensive knowledge of Gio Property Solutions play an important role.
At Gio Property Solutions, we set ourselves apart by ensuring the highest level of expertise and accuracy. All our energy assessors are accredited to Level 4 or higher by NDEA (National DEA), guaranteeing that you receive top-quality assessments and recommendations.
We are also one of the few EAS/iATS-approved testers in the UK that can provide you with the best services for air tightness testing.
To learn more about our services, you can visit our About Us page or call us at 07510 060 669 for an energy performance certificate today!
