Electric only new build flat

QrizB

Scot_39 said:

QrizB said:

I guess I shouldn't be surprised that developers are still building electric-only flats without heat pumps.

snowqueen555 said:

I'm wondering if having all electric heating/water is a deal breaker.

Let's say the flat needs 5000kWh of heat a year. At current SVT prices that's £1350 a year.From gas it would be more like £350 a year, or £500 a year from a heat pump.

So, the flat will cost you ~£1000 a year more in energy than it otherwise would.

How much extra mortgage could you get for £1000 a year, and would that buy you a similar flat with gas or a heat pump?

Think about that

I have, thanks.

Scot_39 said:

 ... an individual ashp costs about 7.5k - plus say with radiators and pipe work for air to wet - 10k.

Where are you getting your numbers?

The ASHP itself will be under £3k (example). Installation in a new-build flat shouldn't be more than another £3k.

Plus you don't need to spend £1k buying and fitting panel heaters.

Scot_39 said:

Who do you think is going to pay that 6-10k ?

The property buyer, of course.

Even if it does add £10k (and, as above, I think you've got that wrong), £10k on a mortgage will cost £60 a month, based on current rates from moneyfacts.co.uk, which is £23 a month less than the extra energy cost.

If its only £6k, that's £36 a month and a £47pm saving.

MultiFuelBurner

I believe the heat pump grant is now £7500 from.£5000

Qyburn

Would you get that grant on a new build?

Jonboy_1984

Would you get permission from the freeholder to mount an ASHP on the outside of the building should also be a big concern.

Scot_39

Perhaps not - but the grant it is an indication of the average cost expected when installed by an authorised supplier.

Arguably setting a false floor on that pricing if above 3k+3k  typical.

And North of the border - as have looked at it for parents old home now owned by sister - you can - depending on circumstances - also get an interest free loan for some of the other costs.  Only briefly after Scottish gas sent out letters the grant - at the time higher than rest of UK - would just about cover the boiler replacement  (or rather make it c500 iirc cheaper than replacing with gas).

So that was the price I used above.

Octopus actually still give 2 finance examples for full system upgrades - without the details - one 8.5k, one 11k. 

https://octopus.energy/get-a-heat-pump/

So my 10k above whilst maybe high for a flat -  doesnt strike me as too outlandish  - as the builder would in all likelihood of course try to add a "green / efficiency marketing" premium too.

And adding even 5k or 10k to the price of a flat is easily enough to exclude potential buyers - as many now face tighter affordability caps on total loan amounts.

snowqueen555

QrizB said:

I guess I shouldn't be surprised that developers are still building electric-only flats without heat pumps.

snowqueen555 said:

I'm wondering if having all electric heating/water is a deal breaker.

Let's say the flat needs 5000kWh of heat a year. At current SVT prices that's £1350 a year.From gas it would be more like £350 a year, or £500 a year from a heat pump.

So, the flat will cost you ~£1000 a year more in energy than it otherwise would.

How much extra mortgage could you get for £1000 a year, and would that buy you a similar flat with gas or a heat pump?

Hi

Yes I had actually worked it out as being about £1000 more  a year.

These 1/2 bed flats range from £180-£220k and the current rate is more towards £200k-£270k for 1/2 new builds here in Bristol, so they are definitely on the cheaper side. 

I've been looking for over a year so am quite fed up with it all. I would say that I was close to buying a year ago but my situation is much better today because of more savings and that prices haven't risen as fast as during covid.

QrizB

I would say that if you can save £20k by choosing an all-electric flat, it's probably worth doing.

This does assume that there isn't anything else deficient - it's not located between the sewage works and the nuclear power plant, for example!

snowqueen555

Hi all,

Negotiating on one of these new builds, what is the benefit for hooking up to solar panels, they have said this would cost £3k to rewire, and would guarantee a an EPC C.

I think it sounds like money not well spent, better off not being connected to the solar panels, which would be owned by the management company?

My offer is on the 1st floor flat terraced, surrounded from all sides, it was definitely warmer than the ground floor flats so hoping it will be well insulated and reduce the need to use electric heating.

QrizB

snowqueen555 said:

Negotiating on one of these new builds, what is the benefit for hooking up to solar panels, they have said this would cost £3k to rewire, and would guarantee a an EPC C.
I think it sounds like money not well spent, better off not being connected to the solar panels, which would be owned by the management company?

It's not clear to me on what you are getting for your £3k. Is that for installation of solar panels on the roof, and  exclusive use of the electricity they generate? How much solar panel will that buy you. how many watts or kilowatts?
If it's at least 2.4 kilowatts (eg. six 400 watt panels) I would suggest that it's worth it, as long as you're planning to stay in the flat for a decade.

snowqueen555

QrizB said:

snowqueen555 said:

Negotiating on one of these new builds, what is the benefit for hooking up to solar panels, they have said this would cost £3k to rewire, and would guarantee a an EPC C.
I think it sounds like money not well spent, better off not being connected to the solar panels, which would be owned by the management company?

It's not clear to me on what you are getting for your £3k. Is that for installation of solar panels on the roof, and  exclusive use of the electricity they generate? How much solar panel will that buy you. how many watts or kilowatts?
If it's at least 2.4 kilowatts (eg. six 400 watt panels) I would suggest that it's worth it, as long as you're planning to stay in the flat for a decade.

They said it is just rewiring. I visited the complex and the panels are already on the roof, though the development is a few months away from being completed and have only just gone on sale, therefore they were not able to give me any numbers or say how many flats would be wired up. They implied the costs could even be near zero depending on usage, which is obviously not likely.

I'd say 10 years I am not sure, probably not.