Buying or Selling a Home/solar energy

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Expert: - 5/3/2005


Question
Generally speaking, if I install solar panels to provide
electricity would it increase the value of the house

Answer
Dear Ernest;
This is an interesting question because it depends on the area in which you live.  In some areas, solar energy is encouraged more than in others.  Certain states are very energy conscious while in other areas not as much.  Therefore, if you are in a place where energy consumption is sky-high and people are using solar energy more and more then panels would certainly increase the value of your home.  Many would-be buyers would appreciate these panels, their cost, and the savings they would provide and encorporate that into the value of the home.  In other areas, this would be considered a nice addition but the uninformed Buyer may not be aware of the savings or the cost to install and would therefore consider it to be an added feature to the home without much added value.  Another example of this type of regional difference is in swimming pools. When I sold homes in Southern California a pool could add about $15 - $25K value to a home while in North Carolina where I now sell real estate, there is no added value and may actually take away value from a home.  Many people in this area do not want pools and will shun a listing with a pool in it. They will calculate the cost to fill in a pool and cover it.

So...my advice would be to check with the local REALTORS and see if they are geting many requests for solar homes.  They can tell you how much value you can expect to add to your existing home by adding the panels.  

I hope that this answer helps you with your decision.

Sincerely,
Jessica Bryan
Managing Broker
House to Hme Realty Services

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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