Green – to adhere to keeping “kind to” the environment.(macivor definition)
This can happen in a lot of ways. Maybe it is the way you separate your garbage. Maybe you are one of those that have separate trash cans and always “recycle” your rubbish.
Compost and your garden. When I was growing up our neighbor had a compost pile in their backyard. I never “got it”, but she did grow some of the most delicious tomatoes you could imagine.
Solar Sales and the local Santa Clarita Cities solar market is booming. If you haven’t yet, you soon will either get a mailer, phone call, email, door knocker, or run into a solar salesperson at Costco!
Here is where the Rub is when it comes to installing Solar panels on your home.
I’m not going to speak about the environmental benefits or whether you should or not. I won’t even talk about the potential cost saving on your electrical bill every month.
From a real estate perspective we have to consider what “solar” is “worth” after being installed on a homeowners home.
If Solar costs you $30,000.00, and you decided to pay cash for it’s installation, barring comparable properties that have sold that have Solar, you may miss when it comes to your buyer’s appraisal of your home.
When our potential sellers or past real estate buyers call us, we ask what “improvements” they have done to their home.
When they say Granite in the Kitchen, Hardwood Flooring, Wainscoting, Crown Moulding, Door Framing, Honduran Hardwood window shutters and bathroom remodels, those are “quantifiable” attributes.
That is primarily because I can show them, via comparable sold homes, what those items are worth to the ever present real estate buyers of the world.
However, Solar Panels, besides some potentially, “not wanting them”, are another story.
Appraisers can only look at the values of homes that sold. Those homes that have actually closed escrow, with regard to the appraisers time frames and guidelines.
*If there are other homes that are within the Appraisers guidelines that have “sold” with solar at “higher amounts” than the other comparable without solar, and that “higher amount” equates to what you spent on “solar”, you are golden.
However, if not, you may be only given a $5,000.00 credit for something you paid $30,000.00 for.
Also, if you are going to finance your solar panels/system and have bits taken out of each bill every month for the next, 20 years in most cases, make sure you read the fine print when it comes to “transferring ownership” to buyer for your home with the solar you had installed.
We have had some cases, rare but existing, where the “transference” of the solar panels was not clear and where the buyer had raised concerns that equated to the seller not being able to sell without a large discount being given.
Make sure you are hiring the BEST realtor you can find to sell your home. Make sure they know the industry and have actual sales experience.