Would you pay $20,000 for a solar system if you knew it added $20,000 of instant home value? That’s exactly what a solar salesman told the client of a real estate friend. Is that legit though? What…
Sourced through Scoop.it from: sacramentoappraisalblog.com
Does a $20,000 solar system really add $20,000 in value in Baton Rouge?
My Appraiser Friend, Ryan Lundquist, pens this post for the Sacramento CA area. But what about Greater Baton Rouge?
I have recently covered this on my Ask Baton Rouge Home Appraiser Facebook Page
https://www.facebook.com/askbatonrougehomeappraiser
REALTOR Maria Thorn asks, “What’s your take on solar panels? Add Value?
Hi Maria,
There’s been 9 re-sales of homes where solar panels were installed at time of sale. Of these 9 resales, 8 were owned panels and 1 was a leased set of panels buyer took over payments.
The short answer is that I studied these sales, emailed listing and selling Agents for their opinions of if solar panels added extra to the sales price. Overwhelmingly, the response was solar panels did not add extra value and in some cases helped sell the home faster.
Some buyers didn’t have a preference and just loved the home in that location.
So far, I can’t find market supportable evidence for added value for solar panels. I will put this together in a blog post.
I do think solar panels will only increase acceptance over time. They’re not the most beautiful feature to place on the front of your home, but homeowners and homeowner associations don’t seem to be fighting these.
Ryan’s article link is here:
http://sacramentoappraisalblog.com/2015/07/07/does-a-20000-solar-system-really-add-20000-in-value/