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The Business Magazine May 2024
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Saving money in the new year with Barratt and David Wilson Homes 

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It’s a new year and no doubt many of us are contemplating resolutions – and a fresh start! It’s one of many reasons why Barratt and David Wilson Homes welcome so many viewers over the thresholds of show homes at developments across the patch. But, it is often not just a new home people are looking for and in an effort to begin the new year – they are looking to save money too! 

In a recent survey of 2,000 people living in Hampshire, Dorset, West Sussex and the Isle of Wight, carried out by Barratt and David Wilson Homes’ Southampton division, more than half (54.18%), expressed a desire to save money on energy bills or reduce overall household expenses. 

Out of those 2,000 respondents, many are making proactive changes to their lifestyles in order to reduce that cost and have instead turned to more sustainable options, including using less water (54%), purchasing energy efficient appliances (38%) and using the car less frequently (31%) – with some even switching to an Electric Vehicle (EV) in the past 18 months (12%). 

The age group 45-54 is the most likely in the patch to engage in various lifestyle changes to reduce their environmental impact. They are most likely to recycle (69%), cut down their energy consumption (66%) and avoid single use plastics (45%). The Isle of Wight also came out as the area where residents were most likely to make sustainable lifestyle changes (68%). 

Over 60% of Hampshire residents have embraced consistent recycling practices, 57% have actively reduced energy consumption and 42% are avoiding single-use plastics in favour of refillable containers. 

Barratt Homes

All Barratt and David Wilson Homes are designed to be 64% more energy efficient and could save up to £2,200 per year on bills. 

Just 2% of respondents living in Hampshire said that they have made no lifestyle changes at all in order to live a more sustainable lifestyle. 

While Hampshire residents are topping the tables, they are certainly not alone. Barratt David Wilson’s research indicates a strong correlation between financial goals and the adoption of sustainable practices, with some 54% of respondents, believing that an energy-efficient home could save them a lot in the long run. 

This perception aligns with the offerings of housebuilders like Barratt and David Wilson Homes, whose focus on energy efficiency can translate into tangible financial benefits for its homeowners. 

For example, all Barratt and David Wilson Homes are designed to be 64% more energy efficient and could save up to £2,200 per year on bills. Its homes include features like highly-efficient insulation, so it could cost less to heat – and argon-filled double-glazing, which keeps heat in and the cold out. 

Barratt David Wilson Homes also use the latest technology, like ‘Smart Walls’, which incorporates heat-reflecting low-emissive technology, which helps to maximise heat inside the home and minimise cost. 

Energy efficiency doesn’t just begin ‘at home’. If homebuyers choose an energy-efficient home, they could be eligible for a green mortgage, which could offer more favourable interest rates, an increased loan amount or cashback. 

Many respondents to Barratt David Wilson’s survey understood there was a financial commitment involved when making sustainable changes. Around 74% are even willing to pay a premium for environmentally friendly or sustainable products and services, however, costs also presented themselves as a major barrier. 

When it came to retrofitting renewable or sustainable energy alternatives into an existing home, 55% said cost was the main reason why they would not implement sustainable modifications to their property. In fact, 81% of respondents agreed with the statement “sustainability features are prohibitively expensive”. 

A further 23% said it was lack of knowledge and understanding of the products on the market and the technology that were a reason for not making sustainable changes. 

From the number of respondents willing to invest, the perception of energy-efficient and sustainable homes was as money-saving assets. Over 53.70% of respondents believe that such homes can save them a significant amount in the long run. 

Respondents also saw the investment as adding value to their homes within 5 years (90%) and in the long term they viewed that an energy efficient and sustainable home could save “a lot” of money (54%). 

This underscores the need for affordable sustainable options, and Barratt and David Wilson Homes, by specialising in energy-efficient homes, can help address this concern. 

Property prices of new build homes with sustainable features can cost a little more – but again, according to Barratt’s survey, 64% of respondents said sustainability was “important” in their decision-making processes when choosing a homebuilder or in purchasing a new home. 

Also, when purchasing a new home, the energy efficiency rating of the property was considered “very important” by 57% of respondents and high-efficiency insulation and windows was deemed “very important” by 60%. Respondents also prioritised water saving fixtures and appliances (46%), solar panels (34%) and low-impact landscaping (25%). 

Along with the findings that 74% would pay a premium for sustainable products and services, purchasing a home with sustainable features already built in provides a good compromise, because there is no expensive financial outlay for the buyer, as they are already included in the build. 

David Wilson Homes

Another area that is showing change in attitudes is in motoring and as the cost of petrol and diesel increases, people are increasingly looking to save money on fuel and maintenance – which is also reflected in the closing part of Barratt’s survey. 

While only 12% of respondents have purchased an electric vehicle in the last 18 months, 47% said it was likely their next vehicle will be electric. 

When quizzed about motivations behind an electric vehicle purchase, 33% believed an electric vehicle would save money on fuel and maintenance in the long run. A further 29% mentioned the motivation to reduce spending on petrol or diesel. 

But, while cost-savings were a motivator, a significant proportion (34%) said an electric vehicle would help them to reduce their carbon footprint and contribute to lower emissions. 

Barratt and David Wilson Homes are starting to cater for this demand by integrating electric vehicle charging infrastructure into their developments.  

While it appears that there is still some barriers concerning cost, overall the market appears to be in favour of sustainable practices, and by investing in a home with lower energy costs, homeowners can overcome this barrier and experience long-term financial savings while also contributing to a more environmentally conscious lifestyle. 

Barratt Homes

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