Are you considering adding solar panels to your home but are worried about it impacting the resale value?
Perhaps you have solar panels and are wondering will this make your house harder to sell?
Or maybe you are interested in solar panels and want to know more? Whatever your reason might be, we have the answer for you!
We know how challenging it can be to sell a house, especially these days. We want to make it as seamless as possible to ensure that you get the right price for your house and a lovely new place to call home.
But with people arguing that it can be harder to sell homes with solar panels, you are often confused and unsure how to proceed.
It makes the house selling process far more stressful for many of us than it needs to be.
Well, no more! Today we are here with all the answers you need.
Keep reading to find out if it's harder to sell a house with solar panels or not! We have everything you need to know waiting below, so stick with us to find out more!
Is It Harder To Sell A House With Solar Panels?
Let’s get straight into it! While some people think it’s harder to sell a house with solar panels, they couldn’t be more wrong! It is often easier to sell a house with solar panels!
According to recent studies, solar panels are viewed as a positive!
Not only are they a low-maintenance addition to your home, but they also come with the potential of lowering your electricity bill and provide access to tax rebates and credits that can save you even more money!
These features make houses with solar panels sell 20% faster than those without solar panels! That is welcome news if you have some solar panels on your roof and a for sale sign in your yard!
You can expect a quicker sale than if you didn’t have solar panels, meaning you can possibly be in your new home even faster than you thought!
Now, it isn’t all plain sailing, and there are some other factors that we need to consider. So let’s look at those now to tell you everything you need to know about selling your home with solar panels.
Are The Solar Panels Owned?
If your solar panels are owned by yourself, the selling process will be straightforward compared to leased panels.
As you own the solar panels outright, there is no one else to contact, and you can move forward with your sale with ease.
You can even expect your house to sell for more money! That’s right, more money for the same house!
Studies have found that homes with standard solar panels sold for roughly $15,000 more than houses without solar panels or smaller systems!
That’s some sweet cash in your back pocket to put towards renovations in your new home or an all-mighty treat yourself moment!
Buyers seem happier to spend more on these properties, knowing that they will have a more straightforward buying process and can enjoy the benefits of owning solar panels on their roofs.
What If The Solar Panels Are Leased?
Now, if you lease your solar panels from a solar installer, then the selling process might be a little more difficult. Don’t worry, it’s not impossible, but there are some factors you need to consider.
Leased solar panels can be a little off-putting for some buyers (not all) as the process of taking over a solar lease isn’t usually common knowledge.
In these cases, you often need to buy yourself out of the solar contract if you can’t find someone (a potential buyer) to take it over.
That can seem a little faffy, but there are a few methods you can choose from here to make the process of selling a home with leased solar panels a little easier. You can choose from the following.
Buying out the lease - we touched on this earlier, and it's often the easiest way to sell your home.
It can cost you to buy out of a lease, but if you can afford to, it removes any potential buyer’s anxiety about buying a house with leased solar panels.
You would need to speak to who you leased the panels from about this.
Transfer the solar lease - if you aren’t in a position to buy out the lease, you can transfer it to the buyer of your home.
You will do this through the solar contract, but you will need both yourself and the buyer to agree for this to go ahead.
Your buyer will need to meet the credit requirements outlined by the solar installer for this to happen. Usually, this is only an issue if the buyer has a low credit score.
Carry out maintenance beforehand - it's a good idea before you sell your property to carry out any maintenance your solar panels need.
This can increase the appeal to potential buyers and make the solar panels seem more attractive and accessible.
Buying the solar panels out or maintaining them should help increase your chances of a quicker sale!
Recent studies have shown that over 70% of solar leases were transferred successfully to new homeowners, with only 20% reporting that solar leases were off-putting.
These statistics are reassuring and show that even with leased solar panels, you can sell your home with little difficulty even w
And just like that, we have come to the end of our solar panel journey today. As you can see, it isn’t hard to sell your home with solar panels at all!
It’s an easy process and often one that allows you to sell your home for more money.
You can enjoy a smooth transition for those with owned solar panels, while those who lease their panels should discuss this with potential buyers to find a suitable solution.
Whatever solar panels you have, you can be assured that they are an attractive addition that will attract attention from potential buyers.