One of the questions that any homeowner will ask before investing in updates to their home is whether or not the planned work is a sound investment.
That includes whether the planned work will improve their quality of life, how they feel about their home, cost savings versus moving house, and also added house value too (especially for new kitchens, bathrooms and extensions).
The same is true of conservatory roof insulation. Whilst there are a whole raft of benefits to properly insulating a conservatory, from keeping things cooler in summer and warm in winter, it is still a big investment to make in your home – so it’s nice to know it will make financial sense in the long run!
In this article, we’ll take a look at just that, including how long it may take to get your money back, and if you might be better off sticking your cash in a savings account.
How long will it take to get your money back?
At Sagars 365, our cutting-edge conservatory roof insulation projects start from £1,999 (with 0% VAT). And based on a survey of 96 customers, 86.4% said they saved between 10% and 60% on their energy bills since insulating their conservatory!
With the average energy bill at the time of writing standing at £2,500 / year for a standard 3-bedroom home, according to British Gas, that amounts to a potential saving of £625 / year.
So, you could see your conservatory roof insulation pay for itself in just 38 months, or a little over three years.
Bearing in mind, that doesn’t take into account future rises in the cost of energy.
What are the long-term financial benefits?
The longer term financial benefits of investing in your conservatory’s insulation is the potential added value to your home.
According to Checkatrade, a poorly-maintained conservatory can actually detract from the value of a home, whereas a good conservatory can add up to 7% to a home’s value.
This can increase further if you make your conservatory feel like a proper extension of your home, something which a plaster finish and installing proper lighting in your conservatory can help to achieve (something that Sagars can deliver as part of our service!).
So, back to the calculator.
The average home value in the UK right now stands at £367,000 according to Rightmove’s November 2022 House Price Index. That means that investing in your conservatory could add around £25,690. Other estimates say that a well-insulated, high quality conservatory can add as much as 12% to your property value.
Now, achieving that sort of house value growth from your conservatory will take a little more than insulating the roof alone, but it shows the swing that spending some time and money on your conservatory can deliver – either a space that detracts from the value of your home, or one that massively boosts its value.
And in this day and age, how energy efficient and well insulated all areas of your home are, will play a big factor in its value and desirability.
Should you just save or invest your money instead?
First, a quick point to note that we aren’t financial advisors, and suggest that you do speak to a specialist before making any savings or investment decisions.
However, the final aspect we wanted to touch on, was how financial savings derived from effective home investment can actually outstrip any potential returns from putting your cash into savings or investment pots instead.
Let’s say you have £2,000 sitting in your account that you’re not sure what to do with.
As we noted above, with average energy bills right now, that £2,000 invested in conservatory roof insulation could deliver a 31% annual return on your initial investment (based on £625 / year energy bill savings).
Now, let’s say you invested that money instead.
At the time of writing, one of the better savings rates with banks across the UK is 2.5% with Nationwide Building Society. With your initial £2,000, that would amount to just £50 extra each year.
And it’s not like putting money in a savings account is a safer investment either. At Sagars, all our work is guaranteed for 10 years, giving peace of mind that you will enjoy maximum energy saving returns for at least the next decade (and well beyond that too!).
Time to invest in your conservatory?
Naturally, it’s entirely up to you where you’d like to invest your money; whether that’s in savings, on the stock market, or in your home.
But one thing we can say with great confidence is that, as our hundreds of 5* reviewing customers on TrustPilot will attest to, improving your conservatory roof insulation is well worth the investment!
Take a look at just some of our delighted customers’ reviews here.