Are you thinking of selling your home with solar panels? If you’re considering it, you should know a few things about how this may affect the sale of your home.
While there are undoubtedly many advantages to selling a home with solar panels – like the increased value of your home and the fact that buyers are increasingly interested in sustainable energy sources – there are a few things to keep in mind.
Advantages of selling a home with solar panels.
There are a few advantages to selling a home with solar panels.
First, it can be a significant selling point for your home. Many buyers are interested in energy-efficient homes. And, solar panels are a great way to show that your home is eco-friendly. Some homebuyers are interested in minimizing their carbon footprint. Selling a home with solar panels can show them that you’re doing your part to be eco-conscious.
Additionally, solar panels can save new homeowners money on their energy bills. Depending on your energy usage, average sunlight, and quality of the solar panels, homeowners can save up to 20% on their energy bill by having solar panels. This is a great selling point, as many people are looking to save money in any way possible. Imagine selling your home, and the homebuyers know they’ll save money each month on their energy bill – it’s a win-win!
Finally, selling a home with solar panels can be a great way to get more for your home. In a study by Lawrence Berkeley National Laboratory, it was found that homes with solar panels sell 20% faster and for about 4% more than homes without them.
Disadvantages of selling a house with a solar system.
There are also a few disadvantages to selling a home with solar panels.
A primary deterrent to homebuyers is if you financed the solar panel system and continue to owe on the investment. There are two options: remove them and take them with you or transfer the debt over to the new owner. Many homebuyers are not interested in taking over someone else’s debt, so this could be a dealbreaker. It makes for a messy real estate transaction.
Another disadvantage is if you have not owned the solar panels for very long. You may not have recouped your initial investment yet. Solar installations can cost upward of $20,000. So it’s essential to ensure that you’ve owned the panels long enough to have made back some of that initial investment.
Depending on where you live, solar panels may not get enough sunlight to generate enough power to make them worth the investment. If the system doesn’t generate enough power, it won’t offset the installation cost and could cost you money. This is why it’s so important to do your research before putting a house with a solar system on the market.
Key Selling Points for Solar Panels
If you’re sold on selling your home with solar panels, there are a few key selling points you should keep in mind when listing your home.
Remember to mention how long you’ve owned the solar panels and how much money you’ve saved on your energy bills. Talking about the results and backing them up with utility bills can highlight the benefits of solar panels.
Another selling point is if you have any certification or recognition for your solar panels, be sure to list that in your listing. This could include LEED certification, ENERGY STAR rating, or other industry-specific awards.
Finally, don’t forget to have them inspected, serviced, and cleaned. This will show homebuyers that you’ve taken care of the system and they’re in good working condition.
Ready to sell your home?
Selling a home with solar panels can be a great way to appeal to eco-conscious buyers. It can also save them money on their energy bills.
However, it’s important to note that there are also a few disadvantages before deciding to sell your home with solar panels installed. If you’re still undecided, keep these key selling points in mind: ownership length and savings on energy bills, as well as any financial incentives or tax breaks that might be available to the new homeowners.
If you’re in the Central Texas area and want to get a more accurate valuation of your home and discuss your panels, give me a call and I’d be happy to assist you. I’ve sold plenty of houses with solar systems from Temple to Copperas Cove.