Tuesday 26 October 2010

An update......EU directives and a quango

"A recent study conducted by a quango, the Energy Saving Trust, found most properties could be improved to meet current green energy standards for less than £3,000. The same study also claimed 70% of property buyers would negotiate a property’s price if they discovered it was not energy efficient"

£3,000 is not much when you consider the cost of your energy bills over a 5 year period, and if the study is correct with regards to 70% of buyers negotiating on a propertys price if its not energy efficent it is a good idea to look at the EPC when you buy a property and spend the time and money updating the property according to the recommendations so that when you sell the property it is more energy efficent.

"An EU Directive will make it compulsory for energy efficiency ratings to be published in all UK homes ‘for sale’ advertisements, including on For Sale boards, from 2012, it has been claimed"

So this will delay first day marketing as at the moment vendors and landlords have 28 days to get the EPC on their property. Personally I don't think this is a bad thing, I work on a 24hour turnaround and so if I receive an order on a monday I do my very best to have the EPC back with the client by tuesday. Therefore for my clients there should be little to no delay for the marketing.

It has also been suggested that the Government is considering charging buyers of properties with poor EPCs a premium on Stamp Duty. There are lots of grants available to enable you to make a property more energy efficent and by the sounds of it now is definately the time to be looking into those.

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