“I recognise that energy efficiency is important, but the process comes at an expense”: Nigel’s retrofit experience
Nigel has been a landlord for 4 years and is based in Ashford, Kent. Becoming a landlord and investing in property wasn’t initially part of the script. But when he was made redundant from a previous job, he decided to buy a flat as an investment.
The flat Nigel bought is an Edwardian property and, upon purchasing it, Nigel recognised the need for refurbishment in some areas, including some insulation issues. There was an urgent need to stop multiple leaks (some of which had damaged paintwork), as well as walls which did not meet current building standards.
When he bought the property back in 2018, the last EPC certificate was rated an E, and was carried out 2 years prior to when the property was purchased this meant that Nigel had to move quickly in order to address the energy efficiency shortcomings of the property.
Nigel says “when I brought this property, I knew that there was significant work to be done. Slowly we are getting there, but this has come at a huge cost.”
“My wife and I have spent £32000 since we bought the property, in order to refurbish the property to a higher standard. Spending this kind of money on improvements of this type demonstrates the kind of expense which being a landlord entails.”
As Nigel explains, “I was hopeful that the most recent funding initiative would prove helpful, but because I have a property which is classed as a mini-HMO, the financial circumstances of each of the tenants had to be taken into consideration. When it came down to it, the grants were off-limits to us due to the fact one of our tenants exceeded the maximum income requirements.
On top of other changes he’s made, Nigel also replaced a 25-year-old boiler and has requested quotations to improve insulation within the loft.
Nigel says, “I will continue to implement whatever measures I can in order to improve the energy efficiency standard of the flat. But this has been a very costly exercise, due to the lack of support that we have received from the Government.”
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