Have you been considering getting a solar PV system installed but are holding off because you are looking to sell your home? Research has found that having solar could make your home more attractive to buyers. With more people than ever looking for a reduction in energy prices installing solar before selling your property is likely to give you the edge in the property market.
Renovations Return on Investment (ROI)
property with solar panels sold for $15,000 more than those without.
Increasing the value of your home seems like a no-brainer for potential vendors but many are unsure what renovations will return their investment. As energy is an essential part of day-to-day life, installing solar panels is the most likely renovation to reap rewards at settlement time.
The recent study by Scientific American, found that on average, a property with solar panels sold for $15,000 more than those without.
With the average solar panel system costing around $5,000 the potential profit for property home owners far exceeds the installation costs making it the most effective renovation you can do prior to selling your home. And with the increase in solar prices it looks as though these figures will continue to rise.
properties with solar will most likely sell faster.
The downturn in the Australian property market has resulted in vendors finding their homes on the market for longer and selling for considerably less than a year ago. Causing distress to property owners.
However a survey by realestate.com.au, found that 85 per cent of Australians think solar panels add value to a home, meaning properties with solar will most likely sell faster than those on your street without. Your agent can even use your low energy bills as a selling feature!
renters would pay additional rent to live in a solar-powered home.
If your home would make an ideal investment property it may be worth considering tenants views on solar panels.
The realestate.com.au survey found that renters would pay additional rent to live in a solar-powered home. Therefore, having a solar panel system installed will make your property more desirable to potential investors.
Government rebates make solar a no-brainer
Did you know that you could also potentially be eligible to receive a solar rebate from the Government? Many states have announced solar rebates for 2019, such as:
- 50 per cent solar panel rebate for eligible Victorians.
- ACT will receive a 60 per cent rebate when installing an eligible solar panel system.
- The NSW Government has made exciting election promises to offer financial incentive programs to homeowners when they install solar.
- Tasmania gives eligible homeowners the opportunity to apply for a no-interest loan scheme.
Save money whilst you’re on the market
Everyone knows that selling a property is a lengthy process. There could be several months between when you initially meet with your agent to when you finally settle and hand over the keys.
By installing a solar system you can reap the rewards of solar and see savings straight away whist you are still there! On average, we have seen our customers save $200 per quarter since installing their PV solar systems.