Posted in: Homeowner, Property Investment, Sandbox Solar | Tags: buying or selling a home with solar, Colorado solar, Colorado solar installer, Fort Collins Solar, homeowner, local solar provider, Sandbox Solar, selling a home with solar in fort collins | July 27, 2020
If you’re like most people, you don’t know if you will be living in the same house forever. So is it still a good idea to invest in solar? Absolutely! Sandbox Solar can help you determine the value of the solar system and give you some tips on buying or selling a home with solar in Fort Collins. More homeowners are investing in solar than ever, which means more people will end up buying or selling a home with solar at some point.
According to the Solar Energy Industries Association, the costs for installing solar panels have dropped more than 70% over the last decade, and the market continues to diversify. The 26% federal solar tax credit has also made solar more affordable for many individuals. So, many individuals are investing in solar and reaping the benefits. Selling a home with solar is a great opportunity to attract more buyers with the benefits of solar energy.
The Value of Selling a Home With Solar in Fort Collins
Many people in Northern Colorado find living a greener lifestyle important, so they look for homes with features such as an existing solar system. Homes with solar tend to sell faster and for higher prices. The following are reasons why homes with solar sell well:
- Homes with solar are worth more – On average, buyers were willing to pay an additional $15,000 for homes with solar systems, even when controlling for factors such as location, home type, and solar system type. If your home has solar installed, know that it’s a selling factor, and will help increase the value and sale price of your home.
- Lower electric bills – Solar panels can reduce monthly energy bills by 70%-100%. Do the math on your electric bill and how much money you have saved. Put the potential savings into real numbers for buyers.
- They’re low maintenance – Solar panels aren’t the same as having a pool or a large garden. They’re extremely low maintenance and need to be cleaned only about once every two to three months.
- Solar is valuable to people who are living green – Work with a realtor who understands the added value of a home with solar. It’s important to have a realtor that will help you show the value of your solar system to the appraiser and any future buyers. Need some help finding a realtor? Sandbox Solar can help! Contact us and we will get you connected to a real estate professional who understands solar.
Buying a Solar Home With the Help of Your Local Solar Company
- Understand what you’re getting into – Before considering buying a home, you should know the system and how it works. Be sure to ask about the costs per month, what the savings are for your utilities, whether net metering is possible, and so on. Knowing these answers will help you decide whether or not the price of the home is worth it and know what you’re getting into for the long run as a homeowner.
- Is the solar system leased or owned – Find out if the solar panels are leased or owned! If they are leased, you will have to get the lease transferred over. If they are owned, this is the better deal, because once you purchase the home, you also own the solar panels. The price of the solar panels is usually built into the cost of the home, so you won’t have to pay anything for them later.
- Get an inspection – It might be worth it to get an opinion from a solar expert to make sure the solar system and roof are in good condition. A solar expert can also help you determine what the system is worth.
- Make sure you can still get a mortgage loan – The added cost of a solar system can sometimes affect your ability to qualify for a mortgage loan. Be sure to check with your lender to make sure that a home with solar fits into your budget.
- Find out what the warranty is – It’s important to know who installed the solar panels to know about the warranty on the system. Solar systems typically last 25 years, but it’s better to be safe than sorry with a longer warranty.
Adding solar to your home is a great investment. If you’re buying or selling a home with solar in Fort Collins this summer, your local solar company can help! Sandbox Solar can give you tips and help guide you to make sure you’re getting the most out of your solar investment. Contact us today if you have any questions about buying or selling a home with solar.