Selling Your Home With Solar
How to Sell Your Home With Solar in Phoenix, Arizona
Here you find all the answers to your questions about selling your home after you put a solar panel system on it. Many customers are concerned with the following when buying a solar system:
How does having a solar panel system in the Phoenix area affect the resale value of my home?
- Studies have shown that a solar system increases the value of a home.
- A study by Zillow shows that homes with solar panel systems sell for 4.1% more than other homes.
- A study by Berkeley shows an average increase of $15,000 to the value of the home when solar system is installed.
- It is important to note that these studies apply only to host-owned solar systems, which means only systems bought with loans and cash were considered.
- Homes with leased solar systems were not included in the studies.
- It is believed that leasing a solar system does not raise the value of a home.
Is it difficult to sell a home with solar in the Phoenix area?
Do people want homes with a solar system on them?
- The Phoenix metropolitan area already has many homes with solar systems, and thousands more systems are being installed every day.
- In this market, home buyers are very familiar with solar panel technology.
- Home buyers know that solar energy is less expensive than the utility companies and it’s also good for the environment.
- The vast majority of home buyers are open to solar and are willing to buy a home with solar, especially in the Phoenix area.
In the Phoenix area, how hard is it to transfer a solar lease or loan to the buyer?
Will the person buying my home qualify to take over the solar lease or loan?
Will I have to pay off the solar lease or loan prior to listing my home for sale?
- Solar loan and leasing companies make it very easy to transfer the loan or lease to a new home buyer.
- Typical solar loan terms are 20 and 25 years. Many people believe that they will be stuck with this loan for the entire term of the loan, but this is not true.
- Homeowners in the Phoenix area only live in their homes three to seven years on average.
- The solar loans and leases are designed to be easily transferable. The solar loan and leasing companies know most people won’t be in their home for 20 years.
- Typically, if a home buyer has credit that qualifies them to buy the home, they will also qualify to take over the solar loan or lease.
- Sellers rarely pay off their solar loan or lease prior to selling the home.
- In most situations, the home buyer takes over the solar loan or lease and then the sellers’ name is removed from the solar loan or lease.
- Sellers and buyers of homes have the option to negotiate a payoff of the solar loan or lease as part of the closing, but that is rare.
Do homes in the Phoenix area sell faster or slower when they have solar systems?
- Homes with solar systems typically sell 30 to 40 days faster than homes without solar systems.
- “Solar” is the 2nd most searched term by home shoppers on Zillow.com in the Phoenix area.
- Many home buyers are looking for homes with solar because of the energy cost savings and the increase in home value.
If you have any questions about selling your home after installing a solar system, please feel free to call us at (602) 753-0560.
WE WORK FOR YOU
Get a Free Quote
Book a Free Home Solar Consultation Now!