Replacing your boiler with a new one will add value to a home – as much as £8,000, according to brand-new research. Of course, there’s so much more to a new boiler than a higher house price. Installing an energy-efficient boiler is one of the best ways to save money on bills. Once you’ve got one, he average life expectancy of a boiler is between ten and 15 years, and regular servicing and repairs can help extend the life of your boiler even further. But, if you’re planning to sell your home, is it worth repairing your boiler or installing a new one? And how much can a new boiler realistically add to the value of your home?
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When to replace rather than repair your boiler
New boilers can cost thousands of pounds, so many people would rather repair their boiler than replace it altogether. While some boiler repairs come at a relatively low cost, sometimes it’s just better to get a new one. Myles Robinson, co-founder of Boiler Central explains: ‘Some old boilers cost more to fix than to replace, but often we see homeowners do everything possible to avoid the cost of replacing an old boiler. Certain boiler repairs, such as replacing the gas valve or heat exchanger can cost close up to £500, so in these cases, it could make sense to replace your boiler altogether.’
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How much value will a new boiler add to a house?
For those planning to sell their home, a boiler upgrade is worth considering, as this can influence the valuation of your home, and its desirability to buyers. GoCompare’s Property Investment Calculator claims that installing a new boiler can increase the value of your home by £8,000. The tool also shows that this one improvement is one of the most valuable home improvements to buyers, alongside brand=new central heating, energy-saving home improvements such as insulation, and electric car charging points.
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According to Chris Wdowczyk, property expert at estate agency Purple Bricks who has valued over 5,000 homes during his career, installing a new boiler is one of the most attractive home improvements you can make to entice buyers. Fitting new windows, roofs and electrics are equally important. Chris explains: ‘It’s worth remembering that approximately one in four house sales fall through, so sellers should prioritise making improvements that matter to buyers. This will help ensure the sale of your house runs as smoothly as possible. Having a new and serviced boiler, for example, is going to make your house more appealing.’