will solar panels help or hurt when selling my house?

I live in VT and am considering solar Panels. I do plan to sell my house in 5 to 6 years when I retire but the new buyer would be locked into the agreement I have with the solar company ( solar city).
(0) | asked by: Richard Lawrence | share | 2 months ago | Report
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answer by Olivia Smolin    |   Visit My Website   |   Contact Me
I very much support the use of solar panels for many reasons. Just like certain other improvement in a home, it is always possible that someone may not be interested in having them (no more no less than a "pool-no-pool", or a "one-story vs. two story" home. So, I wouldn't be concerned with that. There is a buyer for every house. Besides, think of the financial benefits (including some tax deductions that you may be able to claim).
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answer by Bill Elliott    |   Contact Me
You have the option of buying your panels of course, perhaps rolling them into your mortgage with a refinance if needed. Owned or leased, solar is a mixed blessing. If you sell within 5 years of installation you will have a life expectancy of 15-20 years remaining (shop around). Like an in-ground pool, the asset may or may not be appealing to the next buyer. But if you can show an efficiency (reduced or eliminated power bill) it should appeal to a variety of buyers. Everything is relative. $20,000 worth of solar panels on a $100,000 house may not be worth as much to a buyer as that same $20,000 paying the power bill on a 3000 sf $500,000 house. I hope the money I spent on panels will add something to the value of my own house.I did not put them up as an investment in the house, but an investment in the future. Like new appliances, I hope they will appeal to someone when I decide to sell. I won't be able to add their cost to my town assessment to come up with a sale price....
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2 weeks ago  |   Report   |   share
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