With the advent of new appraisal addenda for residential real estate appraisals in Phoenix, real estate appraisers can quantify tangible value that they can add to a home’s value if the solar system is owned by the home owner and not leased. However, the added value is not just limited to an increase in property value but adds to the marketability and sale of the home as well.
Real estate appraisers are able to quantify actual increases in value based upon the size of the solar system, the zip code where the solar system is located, shading of the solar array, and other factors that affect a solar panel’s output in order to calculate the value of the solar system.
The key to ensuring that a home receives the most accurate increase in value for a solar system in Phoenix is making sure that the appraiser has the appropriate information that they need to make those calculations. There have been situations in the past where a seller and or his real estate agent fails to provide accurate system information and results in a less than impressive bump in value. System components (i.e. type of panels, inverter, etc), expected output, actual output, and other solar information is paramount to calculating the right value of a solar system in Phoenix.
Surprising solar owned systems add other types of value to a home as well.
While the cost of the solar system was paid by the current home owner, the new home buyer is able to enjoy the savings without the upfront cost of buying a solar system. It is always cheaper to buy a home with solar than to install it after buying a home. Additionally, the new home buyer does not have to worry about installation or going through the permit process to install solar.
Furthermore, solar allows for greater marketability to sell the home than other homes in the neighborhood. With the proper marketing (see my articles on how to market a solar home for sale), buyers will jump at the opportunity to have a solar home without the payment. If all factors being equal between a solar home and a non-solar home, the utility cost savings can become a big factor in the decision making process. Besides cost savings, there are buyers that focus on the environmental impact and relish in the knowledge that they have a home that has a smaller carbon footprint than the neighbors (this is where we feature the “eco-bling” aspect of solar to environmentally sensitive buyers over the cost savings of the utility bills). While a seller must still focus on traditional and internet focused marketing of a home, the third pillar of solar marketing only enhances the promotion of the home.
Do you have questions about selling your solar home in Phoenix? Call the Solar Home Broker at 480-888-1234 to set up a free, no-obligation appointment to discuss selling your solar home in Phoenix.