Buying Or Selling A Home With Solar Panels
It is estimated that one
million homes have solar panels. The price of solar panels is decreasing while
the value of them is increasing. If you plan on buying or selling a home with a
solar panel, then there are several things that you will need to take into
Buying a Home With a Solar
You will be able to reap the
benefits of a solar panel without having to install one if you purchase a home
that already has one. However, you should check to see if the solar panel has
been purchased or leased. If the solar panel has been purchased, then you will
own the solar panel.
It is harder to buy a home
with a leased solar panel. The lease can last anywhere from 10 to 20 years. You
will need a contract if you buy a home with a leased solar panel.
Selling a Home With a Solar
Solar panels can increase
the value of a home by $15,000. Many people prefer a home with a green feature.
That is why if a home has a solar panel, then it will be more likely to get
However, the benefits of a
solar panel apply to the ones that are purchased not leased. Fannie Mae has
stated that solar panels cannot be included in the value of the home. Before
you put the house on the market, you will need to go over the details of the
purchase or lease.
If you purchased the solar
panel with a secured loan, then you will need to pay it off before you sell the
home. You will still have to pay off the remaining balance if you have an
unsecured loan. If you have leased the solar panel, then you will need to decide
whether you should pay off the solar panel or get the buyer to take over the