Yes, with the right Realtor and qualified real estate appraiser, solar owned systems will add value to your home.
In order to get the most value for your solar, the real estate appraiser needs to know the details and benefits of your solar system on your Phoenix roof. As an experienced solar Realtor, I put together a comprehensive solar package aimed at giving the real estate appraiser all of the key details and information that they need to properly determine the value of your solar. Included in this package are comparable sales, detailed system information, third party certifications (such as Pearl Home Certification), the Appraisal Institute’s form 820.05, Green and Energy Efficiency Addendum, third party solar valuations (that I provide at no cost to my sellers), warranty information, just to name a few of the included items (actually it looks more like a dossier of a cold war suspect that the CIA compiled over years of tracking). If you don’t provide the appraiser with the information about what is on the roof, how can they properly give it a value? They need to know more than something to the effect how many panels are on the roof. What kind of panels? How efficient are they? How many kilowatt hours do they produce? How old is the inverter? Detailed information is crucial and with the right Realtor, that is not a problem.
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. Solar provides other benefits, both tangible and intangible, to the home buyer.
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. Some systems have extended warranties that not only provide an emotional reassurance that the new buyer is covered but financially gives them a safety net of not having to worry about any near-term (or possible long-term) costs. 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 Rob Madden, the Solar Home Broker, at 480-888-1234 to set up a free, no-obligation appointment to discuss selling your solar home in Phoenix.