Making sure your home is properly insulated can do more than save you money on your energy bills. It will also add to the value of your property.
One of the more noticeable trends in the housing market at the moment has been the rise in interest in properties with a higher energy label. It’s something that both estate agents and clients have pointed out to me a lot in recent months – and I expect having a good energy label will once again be a hot topic as we move into autumn and winter.
Dutch housing market
Figures from the National Estate Agents Association NVM last year showed that well-insulated, low-energy homes were commanding higher prices than identical properties without a high-energy label and were more likely to be sold for more than the asking price. More than that, energy-efficient homes sell more quickly than those without much in the way of insulation, and buyers are more likely to bid over the asking price.
So it makes good sense to think about taking action to make your home as sustainable as possible, particularly if you are thinking of selling at some point, whatever the impact on your energy bill.
Maximum mortgage
And if you are buying a home that needs work, you can borrow an additional €9,000 on top of your maximum mortgage to pay for investments in boosting energy efficiency and installing double glazing, for example.
If your home falls under the National Mortgage Guarantee scheme, which covers properties costing up to €405,000, you can also borrow an extra 6% of the value of the property to invest in insulation, new windows and other energy-saving measures.
Some banks may also give a discount on the mortgage interest rate if your property has an A or a B energy label. And if the improvements you make mean your label hits A or B, you may be able to apply for an interest rate reduction as well. Again, this is something your mortgage advisor can help you with.
Grants to boost energy saving
You may also be eligible for government subsidies, depending on the work you are planning to do. Be aware, however, that you have to apply for government grants once you have done the work, so you do need to have access to enough funds to cover the bills to start with.
Of course, if you can’t face the thought of all the disruption installing extra wall insulation, a heat pump or double glazing will cause, you can always opt for a newly built property instead. You will get at least an A+ energy label or even an energy-neutral home, so your electricity bills will be minimal from the word go!
