Data from the Home Builders Federation (HBF) has revealed that making older homes energy-efficient could result in bills of £8,850 for rewiring, £6,185 for central heating and £4,900 for new windows and doors.
The HBF suggested that these costs could be avoided by choosing to buy new-build homes, as just 26% of second-hand homes had an energy efficiency rating of A to C, compared with 94% of homes built in 2016.
“Buyers of new-build homes enjoy a huge number of benefits over those purchasing a second-hand home,” said Stewart Baseley, executive chairman of the HBF.
“This report helps to highlight the hidden savings that buyers of new-build homes make.
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“£50,000 is a lot of money by anyone’s standards, and this new research emphasises just how much new-build homebuyers really get for their money.”
Other potential additional costs for second-hand buyers include £7,900 for a new kitchen, £4,175 for external rendering and £4,000 for roofing work.
New-build homes also come with a warranty protecting the buyer from liability on structural problems within the first 10 years.
“Upon moving into a property that is designed for modern living, there are all the advantages of living in a home with brand-new fixtures and fittings and the latest energy efficiency technologies,” added Stewart.