Will solar panels increase your home's saleability?

[CTyankee]

We're considering putting them but what are the chances we'll get a better price on our house? A few years ago the answer was pretty much negative due to the fact that we'll be out of this house within the next 5 years. We've done the other things that help resaleability -- upgraded kitchen and baths, enhanced the shingles and shutters) and we've kept the house in good shape.

Does the cost of the panels outweigh the return we could get on the price? (We're in a very liberal city, New Haven, but how much does that help?). There are a surprisingly few houses in our neighborhood with solar panels.

Any enlightened views on this for the Sunday morning folks?

[Sherman A1]

1. I believe this would be a very local point of view thing

best to ask a local realtor in my opinion.

[CTyankee]

4. Yes, of course. I was asking a more general question and I realize i would get a more general

answer. A few years ago, solar panels, in the short run, don't increase saleability, but might in the long run. Also, the growth of the technology of solar panels comes into the argument. They just might be cheaper to buy and therefore an enhancement of current property value.

[brush]

8. Don't do it. Any prospective buyer will have to take on the solar loan as well...

as the mortgage. I live in Vegas where this comes up often.

[CTyankee]

10. I think the only question that would be pertinent here in CT would be "does it save bigly on

winter heating bills?" But we already have a relatively new furnace and we redid the windows for really good insulation also several years ago.

As for curb appeal, we had a redesign of the front of our house, all with good plantings for CT weather and attractive with curb appeal in mind.

Since we did all this gradually over many years and while we were both still working, it fit with our budget. I saw that down the ilne we would both retire and not have a lot of disposable income. It was good thinking as it has turned out!

We are also being advised by our neighbor who is a retired architect from Yale and has done major revisions to his home. We are in a middle class neighborhood so every enhancement by all of us can only increase the saleability of our homes.

At least I hope so!

[brush]

12. If you're putting in new solar and then selling, it's a different matter.

The new buyer will have to shoulder the loan for solar on top of the mortgage making the home more expensive than than those without solar or those with already paid-for solar.

[CTyankee]

13. So what you are saying is that the buyer doesn't look at it as saving them money in the long

run by lowering their heat/airconditioning bills?

In that case, is there some way I could "sell" the solar panels as saving them $$$ in heating and cooling bills?

[brush]

14. Maybe, but most buyers want their monthly payments as low as possible as...

new home buyers usually have to scrape and save up money for a long time for their down payment to qualify for a mortgage loan. Adding a solar loan that they have to pay too will turn many to another property without the additional monthly outlay.

It's just dollars and cents. An additional solar loan can put the house out of reach.

[CTyankee]

15. In that case, wouldn't I just fold the cost of the job into the asking price?

[brush]

16. Maybe, but that would also make the house more expensive and thus out of reach...

to some buyers. And here in Las Vegas buyers have to assume not just the mortgage loan but also the solar loan.

But I don't get what you're arguing about. Isn't the solar in your home long paid for so a buyer wouldn't have to shoulder an additional loan if you were to sell?

[cyclonefence]

5. This is good advice

I think. We installed them about eight years ago and began reaping rewards immediately. They paid for themselves in about six years, which is useful to you, I know, if you're planning to move in five!

I would imagine in your case it might be just as useful to point out how much southern exposure your house has and how easy it would be for a new buyer to install panels herself. You might even want to get estimates from a solar company as to costs and benefits and make that part of your sales package.

[Lochloosa]

2. This may help.

https://money.com/home-value-solar-panels/

[we can do it]

7. About 3% increase in home price in our area.

[TheCowsCameHome]

3. Most likely the opposite.

I'd wouldn't dream of installing them for a lot of reasons, especially I was going to be moving anyway.

[we can do it]

6. They actually do.

[Codeine]

9. I would never buy someone else's solar mess.

There’s no assurance to a prospective buyer that it’s all been done properly and maintained adequately. The industry still has a lot of shoddy installs and poor-quality equipment to answer for.

[CTyankee]

11. Oh, anyone working on my house has to come with major recommendations and in some cases

photos. I usually use people who have worked on our neighbors' houses so I can actually see the work and hear about the owners satisfaction!