What makes a property investor motivated to make pricey eco-upgrades? & What is a good rental yield in 2024?
When it comes to how much return owners expect to see from these improvements, Millennials and Gen Z, homeowners said they anticipate a return of £11,123 from a £9,035 investment after 20 years. Boomers said they hope to see £5379 after 20 years after investing £7732.
The report shows that 40% of homeowners are still enthusiastic about making green improvements if it will enable them to save money on energy bills, showing a long-term outlook regarding financial issues despite the current cost-of-living crisis and elevated mortgage rates.
In Coventry for intermediaries’ previous report, ‘Beyond the Bricks: What Does a Green Housing Market Really Look Like?’, it states that installing an air source heat pump could save £295 on energy bills per year for those with an old gas boiler while insulating cavity walls could save around £265 per year on energy bills (as per the Energy Saving Trust).