New Build vs. Period Properties: How Much Money Can You Save on Utility Bills?

When it comes to choosing a home, one of the factors that people often consider is the cost of utilities. Heating, water, and electricity bills can quickly add up, especially during the colder months. One question that many people ask is whether living in a new build property is more cost-effective than a period property when it comes to utility bills. In this blog, we will explore this question and provide some insight into the potential savings that can be made.

New Build Properties

New build properties are often designed to be energy efficient. This means that they are built with materials and techniques that are intended to reduce energy consumption. For example, double-glazed windows and well-insulated walls and roofs can help to retain heat within the property, reducing the need for heating. In addition, newer properties often come with energy-efficient appliances and heating systems, such as smart thermostats and solar panels.

According to research by the National House Building Council, new build homes can be up to 65% more energy-efficient than period homes. This means that the cost of heating, water, and electricity bills can be significantly lower in a new build property. In addition, many new build properties are constructed with renewable energy systems, such as ground-source heat pumps or solar panels, which can further reduce energy costs.

Period Properties

Period properties, on the other hand, are often less energy-efficient. This is because they were built at a time when energy was cheaper and more abundant, and there was less awareness of the need to conserve energy. Many period properties have single-glazed windows, thin walls, and poor insulation, which can lead to higher heating bills. In addition, older heating systems may be less efficient, and appliances may be less energy-efficient than their modern counterparts.

However, it is worth noting that some period properties have been retrofitted with energy-efficient measures, such as double-glazed windows and improved insulation. These properties may be more comparable to newer properties in terms of energy efficiency.

Potential Savings

So, how much money can you save on utility bills by living in a new build property compared to a period property? The answer depends on a variety of factors, such as the size of the property, the location, and the individual energy usage of the occupants. However, on average, it is estimated that new build properties can save homeowners up to £1,410 per year on energy bills compared to a typical period property.

Of course, it is important to remember that the initial cost of purchasing a new build property is often higher than that of a period property. However, over time, the savings on utility bills can help to offset this cost. In addition, newer properties are often more low-maintenance, which can reduce the cost of repairs and upkeep in the long term.

Conclusion

In conclusion, living in a new build property can be more cost-effective than a period property when it comes to utility bills. Newer properties are often built to be more energy-efficient, with modern appliances and heating systems that can help to reduce energy consumption. While the initial cost of purchasing a new build property may be higher, the potential savings on energy bills can make it a worthwhile investment in the long term. However, it is worth noting that some period properties can be retrofitted with energy-efficient measures, so it is important to consider all options when choosing a home.