Buying or Selling a Home/Solar panels on homes.

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Question
Hello, thank you for taking the time to read this email/question. I am interested in leasing solar panels on the house I own. I've been living in my home for approximately 10 years I believe we will be selling within the next 5 years. What are your thoughts on leasing solar panels versus buying them. What I mean by leasing is the company will install maintain and benefit from all the tax credits with no added cost pocket from the homeowner. However, most companies require a contract that the panels are on your home for 20 years.

With that being said, my question is if I decide to lease and not buy will the solar panels still increase the value of my home? Will homeowners be less likely to look at a house where they are required to keep the panels on the house?   In your opinion what are the pros and cons of leasing versus buying solar panels  strictly in selling the house.

Answer
Dear John;
The biggest problem with leasing solar panels is that the buyer of the home must also qualify for the monthly lease commitment.  It might mean that someone who is stretching their monthly payments to the maximum in order to buy your home might not be able to do so and you might lose a sale.

The upside of having solar panels is that you can definitely show the advantage of lower monthly utility bills to a prospective buyer. It will certainly be an advantage to a buyer and would be more attractive than a home without the panels with all other things being equal.  So, while you may not see a higher value, your home may sell at closer to asking price or faster than other homes.  This is of course dependent upon the market in your area.  Solar panels are rare in certain neighborhoods and more standard among the homes in all green neighborhoods.  Their presence might be as important as having air conditioning in a home in hotter climates or a fireplace in a cooler climate.  It all depends on expectations but without them, in years to come we may find that our homes will not have as high a value.

I hope that this helps with your decision.

Warm Regards,
Jessica Bryan

Buying or Selling a Home

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Jessica Bryan

Expertise

buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.

Experience

Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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