News

What First-Time Homeowners Should Know about Buying Solar Panels

If you just bought your first home then you have probably done a fair amount of research into homeownership, and at the heart of all of it you have likely centered your attention on cutting costs and maintaining or adding value to your home. Owning a home is great because you get to invest into something that’s yours, as opposed to paying rent. But with homeownership comes a certain responsibility, and this means doing all you can to increase your home;s resale value, not to mention learning how to cut costs so you don’t become “house poor”. 

Savvy first-time homeowners look into buying solar panels from a company that offers cost-saving features so that you get a nice return on your investment, and are able to improve your family’s lifestyle by cutting back on your utility bill. This article is intended to help first-time homeowners learn the top things to consider when buying solar panels to ensure they are getting a good deal.

Buying Solar Panels Increases a Home’s Value

If you are considering buying solar panels, not only will you save money on your utility bill, you will also add value to your home. In California a small 3.1 kW solar system adds an average value of $18,324 to the value of a mid-sized home, and the property values only increase as you scale up in size. For example, buying solar panels that are 5 kW will add about $29,555 to the retail value of a mid-size home. When you start to look at various companies for buying solar panels, make sure they come tour your home and give you a projected value increase of your home’s resale price, or ask a realtor in the area with experience in selling homes with solar panels. In fact, Realtor.com published an article in which competing homes in the same neighborhoods were compared, all similar homes, and the ones with solar panels went into bidding wars and most fold for more than 10K above asking price. 

When Buying Solar Panels, Shop with a Company with the Best Warranties

Before you commit to buying solar panels from a company, be sure to check to see what kind of warranties they have. A good solid solar panel warranty will run for a length of 25 years. Furthermore, when you sell your home down the road, the warranty should be the type that rolls over to the next owner of your home thus making its value high. When buying solar panels you should also make sure the warranty covers all the things that matter. This should include racking, the panels themselves, the roof, performance guarantee, the inverter, and workmanship. 

When buying solar panels follow these points and you will be well on your way to getting a great deal that will add value to your home, and save you thousands to invest into your family’s well-being and lifestyle.