Solar Panels Boost Property Values

14th September 2020

Solar Panels Boost Property Values

You don’t need to be looking to sell your home to benefit from adding value to your home. There are many ways you can add value to your property that provides you with short and long-term benefits.

For many homeowners, energy efficient upgrades have been hugely important in recent years. A lot of people are placing greater importance on being green, and leading a more sustainable life. If you want to help the environment, making these changes make a massive difference in your life, and the world.

Make an informed decision regarding the energy you use at home

Of course, when you save energy, you save money. This has led many homeowners to look for ways to reduce the amount of energy they use, and one solution is solar panels. You have a chance to lower your energy bills, but you will also make your home more appealing to buyers.

This helps you sell your home, and it can also help you achieve a higher price in the housing market.

A study by EffectiveHome, a company which specialises in solar panels, found that sales prices for homes with solar panels have risen by 14%.

The study suggests the average increase in value associated with installing solar panels is £32,459. Some areas which have benefited more than the average include:

  • Homeowners in London can expect to see their property value increase by £90,000

  • In Bristol, solar panels have been found to add £45,142 to the value of property

  • Edinburgh homeowners can add over £40,000 to the value of their home with solar panels

Are you looking to save a lot of money on household bills?

Going solar is tipped to help homeowners save more than £27,000 on their electricity bills over the lifetime of their mortgage.

Benefits of solar energy include:

  • Solar power is a renewable source of energy, which is of interest to many people

  • You can lower your energy bills with solar panels

  • There isn’t a great deal of maintenance associated with these panels

  • It indicates the home, and its owners, is forward-thinking

Some potential drawbacks of solar energy include:

  • There is an initial cost in installing the solar panels

  • Your overall benefit is impacted by the level of sunlight you enjoy at home

  • Some solar panels take up a considerable amount of space

Dan Graby is a Director at EffectiveHome, and he said; “With house prices currently experiencing a mini boom, it’s interesting to see what impact solar energy and benefits such as reduced energy bills and lowering carbon emissions is having. We hope our findings are a welcome surprise to property sellers across the UK who may be unaware that making energy efficient changes to their home, can make such a significant contribution to its valuation. There is a clear appetite amongst homebuyers to move to a property which is sensitive to spiralling energy prices, global warming and the environment we live.”

We know a lot of people are looking for guidance and assistance right now. If we can be of any assistance, we will. Therefore, if you have any housing market questions, please contact Merrys today, and we will be happy to help.

If you’re a buyer or renter going on viewings:

You can still go and view properties that you’ve had your eye on, but you must follow our simple guidance to ensure your viewing goes as smoothly and as safely as possible:

Protecting yourself and those in the property you’re viewing

Whether it’s on your way to a viewing, or once you get there, remember these three key pieces of advice from the government:

• Maintain a 2m distance from anyone you aren’t living with – we know this can be tough at times, but it’s possible. If you ever forget what 2m looks like, imagine taking two long strides, or visualising the height of your front door!

• Wash your hands regularly (and thoroughly) and avoid touching your face – we’ve all got the dry hands to prove it, but this remains one of the most important pieces of guidance right now to help prevent the spread of coronavirus.

• Minimise contact with surfaces outside of your home – this can be hard as we touch so many things throughout the day, often without thinking about it. Common things include door handles, lift buttons and ‘stop’ buttons on the bus.

Why not start with an online viewing, if available?

You’ll still need to view the property in person, before being able to proceed with an offer, but it’s a great place to start. Particularly helpful if you’re not entirely sure whether it’s suitable for you, it’s also one less journey you’ll need to make. If you’d still like the view the property, the agent will be pleased to know you’re serious.

Before the viewing

In line with government guidance, anyone experiencing coronavirus symptoms should be staying at home, to help prevent further spread of the disease.

To give confidence to all parties present at the viewing that this guidance is being followed, and to help the agent manage the viewing in the most efficient way possible, you should be asked to complete a handful of questions before your viewing such as:

• Has anyone in your household had COVID-19?

• Has anyone in your household displayed COVID-19 symptoms or not yet completed a required period of household self-isolation?

• Are you in the high-risk category?

The current owner, or tenants, of the property you’re going to view will have also completed these questions, as will the agent if they’ll be present on the viewing, so don’t be afraid to check with the agent on this if it’s a concern.

We would also recommend asking the agent as many questions as possible before the viewing, to help save time on the viewing itself.

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