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Do solar panels add value to a house?
Do solar panels add value to a house? Can solar panels decrease value? Do some people don't want to care for them or worry about them damaging the roof?
Asked By Jan | Gurnee, IL | 371 views | Remodeling | 1 year ago
Answer(6)
Lisa and Greg Harris
eXp Realty, LLC
In many states including the state of SC, an appraiser does not add ANY value for solar panels. It is also harder to sell a home with solar panels if money is owed on the solar panels. The buyer must qualify for the home payment and the solar panel payment and this adds to the debt-to-income ratio and many buyers are not able to qualify for both payments in many cases. It also voids the warranty on most roofs and can be an issue when looking to replace the roof as well. In SC I DO NOT recommend it. And Most people are not living in their homes long enough for it to pay off in the long run with any savings.... they are really swapping one bill for another. I have sold a few homes with SOlar Panels and the liens were required by lenders of the buyer to be paid off in full as a lender requirement of the loan as well.
- 1 year ago
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Chris Yochum
Dickson Realty
In some cases solar panels can increase a homes value depending on the specific market. I have seen in my market where similar homes have sold for the same amount where one home had solar and another didnt. It can largely depend on the energy cost in the area and how much sun light is available.
- 1 year ago
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Lynne Pruell
Realty 100 LLC
Some potential buyers may also be hesitant to purchase a home with solar panels due to concerns about maintenance and the potential for damage to the roof. However, proper installation and maintenance of solar panels should not cause any damage to the roof, and solar panels typically require minimal maintenance once installed
- 1 year ago
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Janet Stanek
Lake Homes Realty
In my experience, the addition of solar panels does not increase the value of the home equal to the cost of the panels. Even the "Free Energy" potential with solar does not move the needle up with respect to price enough to justify it. In my opinion there are other things you can do to your home that would increase value such as Central Air, interior paint, flooring, etc.
- 1 year ago
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Mike Smallegan
Keller Williams Grand Rapids
Solar panels can add value to a house by providing energy savings, environmental benefits, and potential return on investment. However, some buyers may have aesthetic preferences or concerns about maintenance and roof integrity. The impact on home value varies, so consulting local experts can provide more specific insights.
- 1 year ago
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Patricia Billings Malone
C21 Masters Malone Homes Group
I have had Buyers not want to buy homes with solar and I have had Buyers not want to buy a home without solar. I have Sellers who love having solar. The best thing you can do is shop the Solar company and be sure to get the right number of panels. I have seen leases from $75 to $250 a month with Solar. It can make it difficult on the Buyer if you lease them because they will have to qualify for the lease as well. No straight answer. I would say if you see the value, do it for you, not the next Buyer.
- 1 year ago
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