{"id":187331,"date":"2025-02-08T16:30:29","date_gmt":"2025-02-08T05:30:29","guid":{"rendered":"https:\/\/propertyupdate.com.au\/?p=187331"},"modified":"2025-02-07T16:42:05","modified_gmt":"2025-02-07T05:42:05","slug":"why-your-older-home-could-be-costing-you-more-than-you-think","status":"publish","type":"post","link":"https:\/\/propertyupdate.com.au\/why-your-older-home-could-be-costing-you-more-than-you-think\/","title":{"rendered":"Why Your Older Home Could Be Costing You More Than You Think"},"content":{"rendered":"

Did you know that more than 80 per cent of Australia\u2019s houses have less than half the energy efficiency rating of homes built to today\u2019s standards?<\/p>\n

That\u2019s a staggering statistic, but it also highlights a growing issue for homeowners and property investors alike.<\/p>\n

With rising energy costs and increasing environmental awareness, buyers are now seeking properties that are not only comfortable to live in but also cheap to run\u2014and older homes are falling short.<\/p>\n

Jacob Caine, a director of the Real Estate Institute of Australia, put it bluntly: \u201cThe cost of running these older homes is often far greater than people expect, and this is starting to influence buyer decisions.\u201d<\/p>\n

If you own an older property or are thinking about buying one, you might want to pay attention because the gap between modern, energy-efficient homes and older housing stock is widening\u2014and not just in terms of heating bills.<\/p>\n

\"Beautiful<\/p>\n

The hidden costs of \"cheaper\" older homes<\/span><\/h2>\n

It\u2019s easy to be tempted by the charm and often lower upfront price tag of older homes.<\/p>\n

But what many buyers fail to realise is that these properties can come with hefty hidden costs.<\/p>\n

Poor insulation, drafty windows, and outdated heating systems mean older homes are less efficient to heat in winter and cool in summer.<\/p>\n

According to the Australian Financial Review<\/a>, retrofitting older homes to meet modern energy efficiency standards can cost tens of thousands of dollars.<\/p>\n

That\u2019s money most buyers don\u2019t factor into their budgets when they see a \"bargain\" property.<\/p>\n

And with stricter building codes and energy ratings becoming more important to buyers, these costs aren\u2019t just a personal inconvenience\u2014they\u2019re a liability when it comes to resale value.<\/p>\n

Why energy efficiency is the new gold standard<\/span><\/h2>\n

Modern buyers are increasingly savvy about the benefits of energy-efficient homes.<\/p>\n

Not only are these properties more comfortable to live in, but they also offer significant savings on energy bills.<\/p>\n

Homes built to today\u2019s National Construction Code must achieve a minimum 7-star energy efficiency rating, making them far superior to the 2- to 3-star ratings typical of most older homes.<\/p>\n

This growing focus on sustainability and affordability means buyers are prioritising homes with features like solar panels, double-glazed windows, and high-quality insulation.<\/p>\n

And as the housing market becomes more competitive, homes that don\u2019t meet these expectations are at risk of being left behind.<\/p>\n