While having solar panels installed on your roof is shown to increase your overall property value, we here at Solar Bear Tampa understand that when it comes to selling your home, having solar installed can present different challenges. Luckily, selling a home with solar can also be very rewarding (and in many cases can actually help you sell your home). Here are some things to keep in mind when selling a home that has solar installed.
Make sure your listing price reflects the increased property value.
In most cases, having solar panels installed on your property significantly increases your home’s value. As long as you own the solar panels and aren’t leasing them, odds are good that in Florida, your home’s overall value could go up anywhere from $15,000 and $30,000. The amount that your home’s value increases due to solar depends mostly on the size and condition of your solar power set up. An estimator or a real estate agent can help you determine exactly how much your home’s value has increased since installing solar panels.
Use your home’s solar panels to help market your listing.
These days, most homebuyers are looking for homes with more environmentally friendly electrical options, and solar is a sought-out feature for buyers. Of course, no matter how much a particular buyer would love solar panels, the condition of your system, as well as the size and the age of the panels will affect just how much more quickly your home sells. On average, residential real estate listings which feature solar panels sell 20 percent faster than standard, non-solar homes. This is obviously a plus, and you should remember to have your real estate broker take good, professional photos of your solar power system to include along with your home listing. You can also make a helpful booklet of information about your home’s solar, like the average savings on your electric bill per month, and the typical amount of energy your home’s solar panels provide month to month or week to week. This information will help first-time solar owners be more comfortable and knowledgeable about what the benefits of having solar in their home are, and in turn, make them more likely to put an offer in on your house.
Be aware of the state of your solar panels and your solar financing choices.
Probably the most important thing to keep in mind when selling a home with solar, especially if you have leased your panels instead of bought them outright, is to keep good accounts of how your financing has progressed. The more information you can provide, the more likely your prospective buyers will feel comfortable making the purchase.
All told, solar panels can help increase your home’s overall value, help your home sell far more quickly than a non-solar powered home, and help you get the price you want for your house. If you need help or want advice on selling your solar-equipped home, call us at SolarMates today.