New Director appointed at IPM

Inspired Property Management is excited to welcome Andrea Barnard MIRPM as Associate Director at Inspired Property Management with immediate effect. This new appointment will strengthen the existing Board and in this new role, and Andrea’s position will support the continued growth and progression of IPM within the industry.

With a career to date of more than 20 years in the property industry, Andrea brings extensive experience in property management, leadership and business strategy gained working in the property industry, delivering to clients across the UK. Andrea’s focus will be on innovation in property management, added value and excellence in customer service delivery.

Commenting on the appointments, Danielle Parker, Director at IPM, said: “I am pleased to recognise Andrea’s commitment to the business and look forward to our continued growth and expansion within the business. Her promotion is yet another strategic investment in our business and a further statement of our ambition. The continued growth of our presence across the North and the development of our residential portfolio are key targets for the business, and I am certain that with Andrea’s new appointment IPM will continue to go from strength to strength.”

Eco-friendly ways to add value and reduce running costs to a property

For property owners looking to make eco-friendly home improvements that might also add value, IPM has provided seven tips.

With the advancement of green heating technology and advancements in materials, homeowners are starting to seriously consider green or renewable ways to run their homes to reduce their carbon footprint.

There are actually a number of ways to run your home while saving some money and doing your bit for the environment. It’s not just the environment that people are concerned with either; energy prices are rising, so it’s no surprise that people are looking for more efficient ways to manage their homes and reduce their costs. If you’re looking for an eco-heating solution, then here are some alternative options available to you:

1. Insulation

Upgrading a home’s insulation, specifically solid wall insulation, is one of the best ways of improving efficiency and reducing energy usage. It costs an estimated £2,750 to do but can boost property value by 3%. Based on the average UK house price of £273,762, this equates to £8,213, adding value to the tune of £5,463. This makes it the most profitable eco-friendly upgrade available to homeowners when it comes to adding value to their home, as well as reducing their carbon footprint.

2. Electric car charging port

Despite the increasing popularity of electric and hybrid cars, it’s still very rare to find a home that comes with its own charge point. Installation is relatively inexpensive, around £800, and can add around 1.5% to the home’s value, adding £3,306 in value.

3. Boiler upgrade

Many homes can still benefit from a good old fashioned boiler upgrade. While notoriously expensive to do, around £2,500, the increased efficiency and longevity that a new boiler provides adds around 1.9% to the home’s value, adding £2,701 in value.

4. Tankless water system

Similarly, if a home uses a tank system for its hot water, in which it uses a large tank to store large amounts of water that must then be heated every time hot water is required, it’s a very good idea to replace it with a tankless heater system. Doing so costs around £1,275 but adds 1.2% to the property’s value, a boost of £1,984.

5. Double glazing

Fitting double-glazed windows throughout the home is very expensive, costing an estimated £6,575. It is, however, an essential step towards creating an energy efficient and warm home and is so important to homebuyers that the improvement adds 3% to the value of a property. Measured against the cost, this brings an added value of £1,638.

6. LED lighting and roof repairs

Increased efficiency and good profits can also be added through installing energy efficient LED lighting throughout the home (£1,069 profit), and addressing any faults or weaknesses with the roof (£987 profit).

7. Solar panels

Despite being one of the most common ways of improving the carbon footprint of a home, it seems they do very little in terms of added value. Installation is expensive, around £5,875, while the value added is estimated to be £1,916, a loss of -£3,959. However, there are obvious savings to be made from reduced utility bills, so if the owner is planning to stay in the home for many years to come, solar panels can still offer good savings.

James Forrester, Managing Director of Barrows and Forrester, comments: “Eco-friendly home renovations and upgrades can be a brilliant way of reducing the running costs of your home, which is something that has been brought into focus due to the spiralling cost of living.

“But they don’t just reduce the day-to-day costs associated with our homes, they can also add value for such a time that you do come to sell.

“In addition to the financial benefits they bring to the home, they can also help us make a positive change with regards to the environment and this eco-friendly conscience is something we are seeing more and more from the modern-day homebuyer.”