Revealed: The eco-friendly additions that could add value to your property
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Letting experts Mashroom recently collated data for landlords to find the green upgrades that could add the most value to their property – with electric vehicle (EV) charging points coming out on top.
According to car leasing firm Riverdale, which analysed the value of 1,000 UK homes, 76pc with an EV charger were worth more than the local average.
Typically, homes fitted with a charger were priced at around £50,000 more than those without – and it's expected that this will only increase over the next decade, as the UK switches from combustion-engine vehicles to electric.
According to Mashroom, fitting one is also cost-effective, with the average cost of a charger around £1,000. EV owners may even be able to reduce that further through government schemes or through vehicle manufacturers, which may include a free or heavily discounted installation at the time of purchase.
EV charging points have become a point of interest lately. Last month, Prime Minister Boris Johnson outlined new legislation to mandate that new homes in England will be required to have electric vehicle charging points installed as standard – something that many developers already abide by.
Mason Burrell, new homes manager at Brown&Co in Norwich, said: “Following the prime minister’s announcement that new homes need to be fitted with EV charging stations from 2022, I believe it was only a matter of time and something that many developers have already started to install.
“It is now very important for developers to take this on board, consider the needs of their future clients and move with the times. In my opinion, the cost of adding EV charging points is minimal and they are fairly easy to install, so I can’t see it having an effect on either the speed of developments coming to market or the desire to buy them.”
A spokesperson for Hopkins Homes, which has developments across the East, agreed: “The Government has announced the UK will make electric car chargers compulsory for new homes in England from 2022.
“At Hopkins Homes, minimising environmental impact is key to what we do and we welcome this announcement.
“We have already begun to install electric vehicle charging ports as standard at some of our developments. These include our developments at Miller’s Gate, Soham in Cambridgeshire and Barsham Vale, Beccles in Suffolk.
“By offering these charging points it will allow our home owners to easily charge their electric cars and plug-in hybrids at home.”
According to Mashroom, other cost-effective eco-friendly measures include fitting solar panels – which cost around £6,000 but can add 14pc to the value of your property – and switching to triple or double glazing, which can cost up to £5,000 but may add 10pc to your property's value.