Home Selling in 85283>Question Details

Jei.elizabeth, Home Owner in Tempe, AZ

We are thinking of putting solar panels on our home in tempe. Would this make our home more marketable/ increase value if we were to try to sell it?

Asked by Jei.elizabeth, Tempe, AZ Tue Jul 9, 2013

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7
A Realtor cannot tell you if improvements to your home will increase the value since Realtors are not appraisers. Only appraisers can tell you if an improvement will change the value of your home.

From a marketability perspective, yes! Homes with solar panels are much more desirable than homes without solar panels.
0 votes Thank Flag Link Thu Sep 25, 2014
The answer can also depend on whether you own or lease the solar panels.
0 votes Thank Flag Link Thu Sep 25, 2014
Install solar panels because you want solar panels and the benefits they bring, don't worry about the resale value, because that's impossible to estimate until (as Annette has alluded) you can talk about what the benefits are (ie: "reduced my electric bill by 100%). If they produce great results, they'll add value. If not, not so much. If the real question is "will the solar panels damage my resale value", then the answer is likely "yes" if you don't have good results to overcome the ugly panels on the roof.
0 votes Thank Flag Link Thu Apr 24, 2014
No one will pay you a dime extra for those UGLY solar panels tacked to the top of the roof.

What people WILL put their money on the table to buy is results, outcomes, benefits and solutions.
Package your solar panels around one of those and you just might have a asset you can leverage.
0 votes Thank Flag Link Thu Apr 24, 2014
They definitely add value, especially to the environmentally conscious buyer. The one thing you have to be aware of is the cost. how noticeable they are, and if you will recoup your investment that quickly. All depends on when you bought, how much you owe, and when you plan to sell.

Chris
0 votes Thank Flag Link Thu Apr 24, 2014
Hi manny - I just sat down with an amazing new solar energy source. Do yourself a favor and take a few minutes and call Bryce with Solar City at 480-332-5009 - Tell Him Kristin and Bud Gragg sent you!
They install the whole system for free!
0 votes Thank Flag Link Wed Apr 23, 2014
Solar Panels are very popular right now but the break even costs make them as a loss on the return on investment.

What is your current value? I would try to find out your current real estate value then what is the cost to put the solar panels in.

To find the current real estate value you have options;

You can go to http://realestatevalues.us

You could contact a local real estate agent

or you can hire an appraiser.

Manny
http://proactiverealestateadvisors.com
0 votes Thank Flag Link Wed Aug 28, 2013
Manny, I'm pretty sure you don't fully understand solar and it's benefits. Your statement of "the break even costs make them as a loss on the return on investment" is absurd.

1. When you finance the system (there are a ton of ways), the monthly payment on the solar array is almost always lower than their current electricity bills.
2. The average home in the U.S. increases by $5k to $6k per kilowatt of system production. The average home in the U.S has a 5kwh system...meaning, an increase in appraised value of $25k to $30k.
3. Currently (2016), the federal government will give you a tax credit equal to 30% of the solar array's cost; so the average home owner gets a free check from the govt equal to $8k to 9k. Free equity to your home's value is a HUGE deal. I can't believe a real estate agent would not be promoting the ability to leverage this program BIG TIME unless he or she didn't understand it.
4. The SREC's (solar renewable energy credits) make this a no brainer
Flag Sun Jan 31, 2016
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