Friday, March 26, 2010

Does Adding Solar Add to the Value of a House?

The ultimate American dream is to get married, buy a house, get a family van, a Lab and than have a few kids. Pretty clichéd but true for most of us. And another fact is that a lot of hard work, planning and investment go into making this dream a reality.

Buying a house is a big deal. As all the owners of houses know that it is just always a beginning once you do own a house. A house is constant work and needs to be regularly upgraded to stay a profitable investment in case it needs to be sold. Some people have their houses appraised every few years just to know the resale value.

There are numerous things one can do to add to the value of a house, add a patio, upgrade the kitchen, have a master bath added, maybe replace all the windows with vinyl ones, plant a herb garden, have a pool built even. All these changes do add to the value of a house but so do professionally added Solar Panels. Intelligent buyers and agents know the value of Solar Panels; they are greener and are a long term source of cheaper energy.

In the current economic down times any house that boasts lower overhead charges, like electricity costs or water charges etc. are definitely more popular with buyers. Buyers readily pay more for houses with lower utility costs. According to Appraisal Journal, a resource for appraisers, a dollar’s worth saving annually leads to twenty dollars increase in the price of the house. This reflects a ratio if 1:20. Thus a saving of $50 means an increase of $12,000 in the value of the property. It is common knowledge that electricity produced by Solar Panels is cheaper leading to an overall lower utility costs.

Money matters, true, but so does the environment. A lot of conscientious buyers definitely look for houses that produce smaller Carbon Footprints. Solar Energy is the most environments friendly electricity source in the world today. Coal and petroleum produce huge amounts of Carbon dioxide when they burn. But the use of Solar Panels to produce electricity leaves behind zero amounts of CO2.

Besides that it is the latest and the trendiest addition to houses and what ever is in fashion is definitely a value adder. And knowing ones house is greener and trendier than the neighbor’s house adds to the feel good value of the house also.

There are still numerous things that home owners, who have invested in Solar Panels for their home, can do to ensure that it proves profitable for them:

1. Make sure the installations are done by a professional team like YellowLite.
2. Save and catalogue all the information regarding the system you have
3. Save and catalogue all the bills, warranties and instructions that come with
the system.
4. Find a professional and trained real estate agent, who knows and understands
the value of your Solar Panel additions and can in turn better market your
house to the buyers.
5. Make sure to highlight all the features of your Solar System to the buyers.

6. Ensure that the appraiser knows about all the special features and addition
to your house, including the Solar Panels.

In the end it is a win-win situation for everybody the buyer, the seller and the EARTH. What can be better than an economically viable solution to earth’s problems and yours too? The rewards are numerous and very tangible so decide soon to help the earth and add to the value of your house!!

A Public Awareness Message by:

No comments:

Post a Comment