Solar energy is scalable and versatile, but did you know it can also improves the marketability of your home? When a potential home buyer is calculating the potential mortgage payment as a percent of their income, there is increased monthly household cash flow available if the house is equipped with solar.
Utility bills can account for $200 – $300 per month in many home budgets. How would you like to have a monthly utility bill of say $20 and not have to worry about rising energy costs?
Solar panel installation have many personal financial benefits for homeowners. The fact that solar-powered homes sell faster is one of the greatest long-term financial benefits. Selling a home is something of a feat these days, and having an asset like solar panels installed on the roof can make it easier.
It has become clear that home buyers are interested in homes that will save them money. They factor in energy bills when deciding which home to choose. This may be one of the main reasons why solar-powered homes in California sell two times as fast as other homes. Knowing that a home will have no or very reduced energy bills and that will remain constant due to solar is incredibly appealing to home buyers.
Solar is attractive to home buyers because of locked in energy rates according to reports by real estate services. Every year energy rates rise by a national average of about 7 – 8 percent, which means that every year energy bills get higher and higher. With solar panels installed, a home’s energy rates become locked in for at least 25 years (the length of a typical warranty), while non solar-powered homes are subjected to consistently rising energy costs. This means that every year you or your home buyer will save more and more money on electric bills.
Solar panels installed on the roof increase the property value of homes. They are worth more money to home buyers. On average, property value is increased by 15 to 20 percent when solar panels are installed.
Being able to sell a home for more money is another great financial perk for homeowners. Solar panels actually have higher returns than most other home improvements intended to increase home resale value. Statistics actually show that home buyers are willing to pay tens of thousands of dollars more for green and energy-efficient homes.
After the initial cost there are almost no other fees associated with having solar panels, which means that you immediately begin to start paying them off. Solar panels actually have higher ROI that the majority of most equity, bonds, savings and money market accounts. Buying power for people interested in your home is increased when you have solar panels. They can qualify for Energy Efficient Mortgages which may allow them to borrow up to $20,000 more than if they were borrowing money for a non-solar powered home. Source Real Estate News.