Residential Solar Adds Value for Resale
Once upon a time, it was thought that residential solar was only a smart investment for those who planned to be in their home for “forever.” However, as electricity rates skyrocket and more homeowners are selling their once “forever” homes to make a profit, realtors and lenders alike have realized that residential solar adds significant value to a home on the market. Whether you plan on being in your home for 5 years or 50 years, adding a residential solar system adds significant value for resale.
Residential Solar is Less Expensive
These days, most homeowners are able to pay off the installation of a residential solar system in 4 to 5 years. At that point, they’re able to start reducing their energy bill and eventually start generating energy credits to sell back to the electric company. This is extremely attractive to home buyers as many are nervous about mortgage payments, home owner association fees, and more. Buying a new home with residential solar reduces this nervous feeling because they’re able to imagine a future where they won’t have huge electric bills that often come with home ownership. Suddenly large homes with fancy built in amenities such as washers and dryers, dishwashers, dual refrigerators and more are more affordable to new home buyers.
Going Green is Cool
There is a cache of cool surrounding having a green home. Many homeowners love being able to say they’re helping the environment by owning a home with residential solar. It’s not unusual to have residential solar installed but it is highly sought after for homeowners seeking to minimize their carbon footprints and to reduce their energy usage. In today’s society, where American energy has seemed to take a step back with the resurgence of older forms of energy, solar power emerges as trendy, cool, and something that educated people choose to provide for a better future of the planet.
Whether homeowners are seeking to reduce energy bills or to embrace a cool form of energy, the addition of solar panels to a home translates to higher resale value, which multiplies homeowners’ return on investment. In the current housing market, an increased resale value can translate to big dollars overall.