How does a house with solar electric already installed & ready affect the speed of sale & the price? Is the demand there yet? Will having?

Asked by Deborah Henderson, 37918 Fri Oct 22, 2010

it all installed & running take the intimidation out of buying a solar home?

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Dean, Other Pro, Knoxville, TN
Wed Oct 27, 2010
I would say it could be a selling point if the benefits of Solar power were correctly highlighted, but in terms of added value from an appraisers point of view, i dont see it adding any value. An appraiser doesnt personally assign value to items, they extract value from the marekt by gauging market reaction. There are not enough examples of homes in East Tn selling for more by having solar power for a positive adjustment to be made.
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Dan Tabit, Agent, Issaquah, WA
Fri Oct 22, 2010
Deborah,
I agree with many of the comments below. Count on it being at best a time saver in getting your house sold. It's an added benefit most other homes won't have. It may translate into a savings for the new homeowner and the better you document this, the greater the perceived value will be.
I wouldn't count on getting your home sold for much if any more than the homes without it however. Finding reliable comparables, even if you do get a buyer interested at a higher price will limit what the home will appraise for.
If you've already installed them, and enjoyed some energy savings consider this your primary benefit. If you are considering installing them for resale, I wouldn't feel comfortable recommending that.
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marty hartse…, Agent, knoxville, TN
Fri Oct 22, 2010
This will speed up the process for buyers who are willing and see a value in the solar system. It will make the home harder to sell to buyers who are not informed of the solar system its benefits, cost of operation, and mantenance.
0 votes
G, , Knoxville, TN
Fri Oct 22, 2010
Deborah,
Here in East Tn it is not going to make a substantial difference in the selling time or price. You are going to have a hard time getting the appraisers to give you any credit for it, there aren't enough comps with solar to compare too. If you were my listing I would advertise the heck out of the fact that the house has solar, it should get a lot of lookers in the house and the more lookers the more chances of selling it.
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Bryce De Vin…, Agent, Sherman Oaks, CA
Fri Oct 22, 2010
Hello Deborah,

The answer varies on where you are located.

In Southern California, I would imagine that this type of upgrade helps the sale of the home.

Areas in other parts of the country that do not see year round sunshine, it might not make as big of a difference.

I will say that no matter what bells and whistles you might have on your home, what is selling homes right now is location and price. If your house is "fully loaded" but its $100,000 more than the last home that sold in your neighborhood, it might be sitting for a while.

If you are asking the question because you are thinking about installing these upgrades before selling the home, don't do it. You will not get a full return on your investment. Things like solar panels, pools, new kitchens etc, never bring in their entire investment.


Feel free to email me with any questions. Not sure where you are located, but i would be more than happy to advise you.

Cheers!

Bryce
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