Monday 5 June 2023

‘EV-ready homes worth more money’

‘EV-ready homes worth more money’

If a home is ready to accommodate an electric vehicle (EV) and not just the new resident, 78% of millennials are willing to pay more for it.

That’s according to a new study by Auto Trader, revealing that for all age groups, the number willing to pay more is still more than half of the UK.

If an EV charger is already installed at the property, one-in-ten Brits revealed they would be willing to pay up to £2,500 extra for their new house.

The younger the driver, the more appealing an EV-ready house becomes, the study reveals.

With 80% of 18–24-year-olds willing to pay more, 78% of 25–34-year-olds and this dropping to 65% with those aged 55 and over.

This means that installing an EV charger at your home can bring more value once it’s sold.

Editorial Director at Auto Trader, Erin Baker, said: “Drivers under 35 years old who perceive the most value in an EV-ready home, with our younger respondents saying they would be willing to pay around £1,800 more for a home that was set up for EV charging.

“Homeowners looking to add value to their property, especially if their home is attractive to the millennial generation, may want to consider investing in installing an EV charger to make their home more appealing to buyers of this age.”

Written by

Bruna Pinhoni

Trending Articles