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Will Solar Panels Increase the Value of My Home?

By admin | February 1, 2021 |

Ever wondered if installing solar panel in your home will increase its value? Well, the answer is a resounding “yes!’. Buyers are attracted to homes with solar energy for a number of reasons, and we’re going to talk about some of those today.

A future financial benefit

One of the main reasons your home’s value increases as soon as you install solar panels is the fact that there’s a future financial benefit to buyers. Solar power is an investment, but if you decide to sell your home, that means the new owners can take advantage of free solar energy without any upfront cost.

For families entering into a mortgage situation, any financial savings are appreciated. So, considering the annual savings that solar energy presents, buyers are going to be more interested in your property, which always bumps up the selling price.

Environmentally friendly

Remember back, say, 10 or 15 years ago when everything eco-friendly seemed to cost a lot more, so it was a bit prohibitive for people to adopt a truly green lifestyle? Well, times have changed. Even if some enviro-conscious products are still a little more costly, people are far more willing to pay it because social attitudes toward the environment have changed.

As Australians, we’re becoming more and more protective of our environment, and with this comes a real desire to go solar. Residential solar is so common now that it could be the difference between making a quick sale and losing a potential buyer. Let’s say a solar system costs around $5,000. If your buyer wants solar energy and they have to install it themselves, they’re likely going to want $5,000 off the purchase price. Are you willing to risk letting them walk?

It’s a universally beneficial selling point

The great thing about solar energy from a real estate point of view is the fact that it’s universally beneficial. Many impressive house features only appeal to a certain type of person, such as pools, entertainment rooms, outdoor dining areas. Solar energy, on the other hand, benefits everybody because it provides cheaper energy bills every year. This means your solar feature is likely to attract more buyers.

Standing out in a crowded marketplace

The New South Wales housing market is crazy, with homes being purchased in record times. However, when you’re selling a home, getting a quick sale is only half of the battle; you also want to get a great price for your home. The best way to do that is to make your home stand out from the crowd. If there’s something unique about it, you have more chance of a bidding war between buyers which ultimately bumps up the price of your home.

So, even in a seller’s market, solar panels can provide the point of difference you need to stand out from the crowd. Let’s face it, if a buyer is deciding between two properties of similar size, location and price, but only one has solar panels, they’ll go with the solar panels every time. That’s because they know they’ll save a fortune on energy bills in the future, which is something they won’t get with a non-solar home.

Looking for the best solar installers in NSW?

If you’re considering adding value to your home by installing a solar system, we’d love to discuss your needs. We offer affordable residential solar packages to suit all house sizes and budgets. Contact the friendly team at Solar Path today and book a free on-site quote. We’ll analyse your existing energy habits, recommend the perfect solar power system and even let you know how much you can expect to save.