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Understanding solar power when selling or buying a home is important as more properties have this feature. See how solar panels affect a homes market value.
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Scooped by Bill Gassett |
Scoop.it!
Bill Gassett's comment,
August 16, 2016 11:34 AM
Thanks for sharing @StewiackeNews!
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When it comes to solar power there is a ton of information both buyers and sellers should be familiar with. The technology has come a long way so it has become very popular in recent years. More and more property owners are adding this technology to their homes.
As a real estate agent I am often asked some key questions by both buyers and sellers. Some of the more common ones are:
These are just a few of the key questions you will see answered in the article.
When it comes to home value many people mistakenly believe that if they spend thousands of dollars on adding solar panels to their home they will be able to turn around and tack that onto their homes asking price when it is time to sell.
If you believe this then the solar power companies have misled you in most circumstances. The return on investment for a solar panel system can vary tremendously based on where you are located.
For example the return in California is probably going to be a lot different than in Texas or Maine. In fact in these areas there may be only a negligible gain in property value.
When it comes to adding solar power the phrase "all real estate markets are local" could not be more accurate! When considering adding solar panels to your home you should always consult with a local real estate professional so you can get an idea on what your return will be if you need to sell your home in a few years.
My advice is to think of solar as a great way to save money on a monthly basis as well as help preserve our environment by going green. Don't expect solar panels to be a big money maker at this point. Could this change in the future? It sure could.
In the article you will see a few interviews of other real estate professionals from around the country who talk about how adding solar power affects market value in their local area. The conclusion was the same even from an appraiser.
Take a look at all you need to know about solar power in this detailed article. If you find it helpful please consider scooping it or sharing to your social networks.