Will Solar Panels Add Value to Your Charlotte Home?
Solar power has become very popular and for good reason. Adding solar panels and a full system to your home offers many benefits including a lower electricity bill. You also have the ability to reduce your carbon footprint, as your home becomes more eco-friendly.
When you decide to sell your home and you have installed solar panels, you may think it makes your home worth more. This may be the case, but it may not always be the case. Before you add a solar power system to your home, make sure you understand what you're getting into.
Speak with a Bank Appraiser or Realtor
The best way to find out if a solar system will add value to your home is to speak to your bank appraiser or Realtor. They will be able to let you know if it will add any value to the actual appraiser, make the home sell faster, or cause any issues when you try to sell the home.
Adding solar panels to a home isn't as black and white as some of the other things you can do when it comes to adding value. It's a bit of a newer upgrade and there are many factors that could impact the value added including:
- Are the solar panels leased or owned
- Your home type
- Where you live in Charlotte
- The expense of the property
- If the panels are installed in the front or back of your home
- The overall energy and monetary savings from the panel
These factors must all be considered when looking at any value being added to the home.
Owned Systems are Best
While many homeowners lease solar panels due to the high cost of having a solar power system installed, an owned system will add the most value. Most appraisers won't add value to your home if you don't own the solar system.
Best to Install in the Back
Nobody wants to look at an eyesore and solar panels installed on the front of a home can take away from the curb appeal. This can make it harder to sell your home and can actually reduce the price of your home. Having a solar system installed in the back of the home will add the most value.
Newer is Better
Just like with a roof, the newer your solar panels are, the better when you sell your home. Older systems tend to use outdated technology and will require more repair moving forward. However, a newer system may be a very appealing option for the right home buyer.
A solar power system added to your home has the ability to add some value when you sell. However, you should be aware, it won't be the biggest return on investment. Other home improvements have a higher ROI, but solar panels can add some value.
The right buyer may find your home more appealing due to a solar system, but not all buyers care about having solar power. Speak with a local Charlotte real estate agent before deciding to add solar panels to your home and before you sell a home with a solar system.