Solar Panels & Property Value: San Francisco Luxury Real Estate Agent Insights

Solar Panels & Property Value: San Francisco Luxury Real Estate Agent Insights

When it comes to large investments into your home, you have to think carefully. Sure, solar panels are better for the environment, and a self-sustaining home is a nice idea. But will it be worth it when it comes to selling your property? How will it affect the home value? Find out in the new report from luxury real estate specialists, Black Label Real Estate.

The company’s article goes into detail about why solar power is seemingly an attractive solution to a more energy-efficient home and offers statistics and research into the topic.  According to the report, in 2019 there were over two million solar power installations across the USA, with this number predicted to double by 2023.

For homeowners in San Francisco, known for its pleasant California climate, the installation of solar panels can seem like an obvious win in terms of increasing a property's value, but as the latest report outlines, this is not always the case. Black Label Real Estate outlines the pros and cons of installing them in your home, detailing that higher demand for solar panels has led to an increased price tag.

But the author, Timothy Farnham elaborates, explaining that homes with self-sustaining solar energy systems sold for an average of 4.1 % more on the property market than those without - so it could work for you. The article goes on to explain that in real-world terms, for a home valued at the median rate, this could translate to just under $10,000 more.

Later in the report, Tim goes on to explain that this number fluctuates, sometimes by a considerable amount, depending on your area and whether or not the panels themselves are owned by you or leased.  This is because buyers are rarely interested in getting into a finance arrangement on top of the price of buying your property.

Go to http://blacklabel- realestate.com to find out more.