Does Solar Increase Property Value?
There are a lot of great ways to increase the value of your property, and one of them is adding solar panels. Studies have shown that installing solar can make your home's resale value rise, and that can mean it's more attractive to buyers. That's especially important if those buyers are interested in lower operating costs and better energy efficiently. Here's what to know about how and why a solar system may improving your home's property value, and whether you should consider it.
Choosing Solar Is a Big Step
A lot of homeowners worry about choosing solar because they aren't sure about installing it or financing it. They may also have concerns about how it affects their ability to sell their home later, and even whether the panels will damage their roof. While all of these concerns are understandable, the evidence is overwhelming that solar is a valuable asset for a homeowner when it's installed properly by trusted and competent professionals.
Your Property Can Sell for More
The relationship between solar systems and property values has been studied for decades, and from those original studies to newer ones the results are the same. Homes with solar panels typically sell for around 4% more than homes that don't have them, all other factors being equal. There are outliers, of course, but the large number of homes included in many of these studies shows that homeowners can expect an increase in property value and a higher sales price when they have solar.
You May Also Sell Faster
Another important point when choosing solar is that homes may sell faster than similar homes that don't offer solar systems. That occurs because up to 80% of buyers are now looking for homes that are more energy efficient. That efficiency helps them live more comfortably in their homes and can also reduce energy bills, giving them some big incentives to choose solar-powered homes.
If you're a homeowner and considering a solar system, don't let concerns over what it might do to your home's value stop you. In most cases it should actually increase the value of your home, helping you get back your investment in the system when you sell. If you have any questions, we'd love to help. Contact us today to get started!
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