Solar power is a popular topic lately. Today I’ll examine whether or not installing solar panels on your home is a good idea.
When talking about whether or not adding solar panels to your home is a good idea, there are two main points to think about.
First, ask yourself, “Do you plan on living in your home for a short period, or are you planning to live there long-term?”
For people who are looking to live in their home long-term, solar is a great idea.
If you’re only considering a short-term stay in that property, it really comes down to whether you can afford to put solar panels on the house and purchase it.
A leased solar panel tends to cause homebuyers some uncertainty; they don’t typically like to take on other people’s leases. Mind you, we’ve sold a ton of homes with solar leases, some within a few months after the selling process, but if you want to appeal to most homebuyers, a solar lease isn’t the way to go.
It’s much easier to sell a house where the solar panels are owned by the homeowner. There are no additional payments, and it provides immediate savings in terms of utilities if you didn’t have to invest in the system.
Now if you’re planning to stay in your home long-term and are considering purchasing solar panels, you need to think about your income. Do you have a relatively fixed income? How much money do you have in your savings?
If you’re on a fixed income, have some money in your savings, and you can afford to make an investment in your house, solar panels will help you save on your electric bill over time by bringing it down to almost nothing.
If you don’t have a ton of money in your savings but you do have a consistent income, a lease is a great idea. During the hotter summer months out here in Santa Clarita where temperatures get into the 100s, solar panels will help you save big time.
For any questions you have about solar panels, the logistics of having them installed, and/or the savings they’ll provide you, don’t hesitate to reach out to me. I’d love to have an in-depth discussion with you.