Wholesale gas prices have seen a steep rise since October 2021 which means energy firms have been passing these on to households through rising energy bills. However, the current economic climate shouldn’t put any kind of dampener on your dreams of finding a new home in 2022.
While energy costs are rocketing, it’s worth stopping and considering more than just today’s price hikes. Yes, gas and electricity may be costing more and more, but if your home is energy efficient, then the rising costs may impact you less than you think. To put things into perspective, award-winning and national housebuilder, St. Modwen Homes, has compared today’s new-build homes with 1970’s and Victorian homes of a similar spec – basing its calculations on the UK average gas and electricity prices set in April 2022.
If you take look at a typical three-bed family home, the results are quite staggering. Due to better insulation and sustainable features, new-build homes of this size have an average total energy bill of just under £800. Comparatively, annual bills for a 1970’s home of the same size cost around £1,613, whilst a Victorian home with some modern improvements could cost around £1,751 per year.
That means owning a new-build home could save you around £1,000 per year on energy bills in comparison to those who own a Victorian property. And, compared to 1970’s homes, you could also save around £800!
A typical four-bed home built in Victorian times could leave you a whopping £1,846 short of cash each year due to energy bills. A similarly sized 1970’s home wouldn’t leave you much better off with a total bill of £1,693 per year. However, with a four-bed new-build built by St. Modwen Homes, your total costs could be around just £940. That’s a similar saving of around £900 a year compared to Victorian homes. Not only are you freeing up some money in the short-term but think of the thousands you’ll be saving over the years you live there.
But there are many other reasons to consider new over old when it comes to buying your home. House building has changed over the last 100 years and there are many benefits (beyond purely economical) to consider when looking for your next dream abode.
One key reason being that new-builds are built with the future in mind – take less air leakage for example. Older homes can be more susceptible to losing air through holes in brick work, window frames, and draughts under doors. And quite simply, the more air you lose, the more energy you need to use to replace it. Nowadays, there are strict regulations in place surrounding how airtight a home should be – and St. Modwen Homes ensures this always meets the target requirements, often performing better than regulatory standard.
So, if the rising cost of living and rocketing energy costs have put you off buying in 2022 – maybe it’s time to look at it with a new perspective. Thanks to clever design and energy efficient features found in new-build homes, your plans to find your new home this year don’t have to be put on hold.
Plus, as an added bonus, St. Modwen Homes is offering a limited time ‘Bills Boost’ incentive to those purchasing a home with them in May 2022. The national housebuilder will be contributing up to £2,000* towards each purchaser’s energy bills! So, the time really is now to find that dream home you’ve been waiting for.