With property prices rising by 4.3 percent as the nation exits out of lockdown, homeowners with an itch to sell are now getting a chance to get their house in order and on the market.
In July, 3,397 mortgages were approved in Ireland, a jump of 50.1 percent on the previous month as more people seek to move home in 2020.
Homeowners in Ireland looking to sell their property are being urged to check their heating system to stand out from the crowd for potential buyers. The number of people coming back to Ireland and possibly looking for homes has reached its highest level since 2007, with CSO figures showing 28,900 Irish nationals returned home to live in the year to April 2020, with the pandemic and Brexit named as key factors.
All homes marketed for sale require a BER certificate. With many properties on the market, OFTEC, the organisation that represents the liquid fuel industry in Ireland, has produced a helpful checklist to ensure your heating systems is in sellable condition and tip top shape to assist your house sale.
Know your boiler’s history
Sustainable Energy Authority of Ireland (SEAI ) recommend that your boiler should be serviced at least once a year to make sure it is working correctly and efficiently. If you haven’t had the system checked over, contact an OFTEC registered technician who is qualified, competent and insured to provide you with evidence, such as servicing reports. Using non-qualified technicians to carry out any work could make buyers more cautious.
How much does it cost to run?
Energy costs are often one of the most important factors people consider when buying a property so make sure you know the facts and share them with potential buyers. With over 686,000 homes using a liquid fuel, this is the most popular home heating source across Ireland. Heating oil remains the cheapest major fuel over the last three months and over a four-year average, when comparing typical annual running costs for an average three-bedroom house. (Sutherland Tables – July 2020 ).
How smart are the heating controls?
Outdated and or no heating controls could potentially put off a buyer because they can make it more difficult to regulate the temperature, leading to higher energy consumption and fuel bills. Upgrading to more efficient technology which enables you to set different temperatures for each room can be an additional selling point. Modern systems can also connect with smart devices which offers even greater flexibility.
How old is the boiler?
Modern condensing boilers are more efficient (up to 93 percent ), quieter and cheaper to run. If the boiler is over 15 years old, it will definitely be worth replacing. You can save up to 20 percent on your annual home heating bill with a new condensing boiler. If the boiler has been installed in the past five years, prospective buyers can ask to see a boiler passport.
Love your oil tank
Don’t forget the oil tank! This should be serviced annually as well to check that it is robust, fittings are correct and the storage is sound. Again, a record of servicing for potential buyers is very important.
Insulate and increase your Building Energy Rating (BER )
To maximise the efficiency level on your BER think about adding insulation to your loft, energy efficient light bulbs and TRV’s/room stats to your existing heating system. These small additions can greatly improve your energy efficiency rating and will be at the forefront of any buyer’s mind.
For more information and advice, visit www.oftec.ie