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Increase the value of your home with a Green Deal makeover

New figures released have shown that a Green Deal makeover could increase the value of your UK home by £16,000. The Green Deal is a new scheme designed to make home owners more aware of the energy they use and how they can improve the energy efficiency of their home. This new data shows that the value of your property could increase by up to 38% simply by taking measures to reduce energy usage.

Measures to take include adding loft insulation or installing energy efficient boilers, both of which significantly reduce the amount of energy wasted in the home. Studies of over 300,000 property sales have shown that, by making these improvements, more than £16,000 could be added to the asking price of your home. Boosting a home’s energy band from G to E can increase the asking price by £25,000 in the North East and £23,000 in the North West. London house prices have shown the highest increase in asking prices by over £41,000.

These figures look promising for the UK housing market. The Green Deal scheme is designed to help home owners by providing upfront financing for energy saving home improvements. It is thought that this will also help to improve currently available UK housing stock. Energy and Climate Change Minister Greg Barker has stated that these improvements will add real value to your property and they can also protect consumers against rising energy prices.

As a third of the UK’s emissions come from housing, energy saving refurbishments are a cost effective way to reduce these emissions and save energy. The Green Deal helps people to pay for these refurbishments through the savings they will make on subsequent bills and provides upfront loans to those who want to add improvements. Although it is an effective way to save energy, many people have criticised it due to the high interest rates. Many people are reluctant to participate in the Green Deal and make energy saving improvements due to their inability to keep up with the high repayment rates.

Despite this reluctance, interest in the Green Deal is increasing and many home owners are beginning to see the benefits of such a scheme. Not only will the value of your home be increased by making energy saving improvements, but buyers will also be encouraged to make an offer as they will save significantly on their household bills.

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