More and more homeowners are working on making their homes more sustainable. And that is not surprising, given the rising energy prices and climate problems. As a result, more and more houses are getting a higher energy label. How much does that affect the value of a home?
The number of houses with a high energy label is increasing. 25 percent of the objects sold now have an A label. Although houses with bad labels can still be sold, researchers from the Universities of Tilburg & Maastricht concluded last year that a red energy label yields less and less when sold.
Data agency Brainbay recently investigated, in collaboration with real estate association NVM, exactly how great the effects of sustainability are on the value of homes. The results of the study are not entirely surprising: the more sustainable the home, the higher the home value. The research shows that every step in the label jump leads to a higher home value, including steps in the red and orange labels.
The step from G to C, for example, yields a lot of profit: a house with label C yields on average 7.9 percent more than a comparable house with a G label. With the current average house price, that will quickly be about 30,000 euros. The step from G to D also yields a lot: 5.7 percent. A home with an A label yields 13.3 percent more than a comparable home with a G label.
With a lot of shortage in the housing market, people are making fewer demands.
Rising energy costs and wider housing market
Logically, the increase in energy costs affects the added value of the energy label, but a less tight housing market also makes the label more important. Brainbay’s research shows that in regions where there is a broader housing market, where there is therefore more choice in the housing supply, the added value of energy labels increases.
“In a region where there is less shortage, a buyer can be more picky. If people have the luxury of being able to choose between different houses, the sustainability of a house is a more important factor and consideration,” explains Marc van der Lee, spokesperson for NVM (The Dutch Cooperative Association of Brokers and Valuers).
“With a lot of shortage in the housing market, people are making fewer demands. Regardless of the energy label, the shortage is leading and a buyer then wants to buy a house ‘at all costs’. The housing market is still tight and the acute shortage is still large despite an increasing supply. But if the shortage continues to decrease in more and more regions, we expect that this effect will also occur there”, Van der Lee analyzes.
It also appears that the value of the label is enhanced for detached houses with an older construction year. “The more expensive the energy-saving measures required for a particular house are to achieve a higher energy label, the more this affects the added value. Making a detached house from an older construction period jump to a better label is more expensive than a more recently built terraced house.”
There seems to be no brake on it: rising gas and energy prices. On Independer you will find 4 questions and answers about the current energy market and rising energy prices.
Even more benefits
A higher energy label does not only affect the value of the home, it can also affect the mortgage. Some mortgage lenders give an interest discount if you have a better energy label. This can lower your monthly payments.
In addition, a higher energy label also means savings on your heating costs, something that you as a resident immediately see in your wallet. “When switching from G to C, that is an average of about 1365 cubic meters of gas to 1070 cubic meters of gas, a saving of 21 percent,” said the spokesperson.
Raising the energy label of your home
Obtaining a higher energy label therefore has many advantages. But how do you go up? Mike Leon Bezem of MijnKeurLabel: ,,In some cases you can make one or two steps on the label ladder with just a few solar panels, but other houses have to get facade insulation for a higher label.” According to Bezem, the most important pillars are: renewable energy, heating, tap water, how much heat the facade loses, roof/floor insulation and the windows.
“Most homes still have some room for improvement on one or more of these points. You can of course do a lot of research yourself, but it is easier and safer to seek advice from an expert.” on Improvementjehuis.nl From Milieu Centraal you will find an overview of the best improvement measures that suit your type of home, including a step-by-step plan.
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