Installing solar panels on a property, even if it’s a minor installation, can drastically change the property. So if you’re looking to sell a house fast in Great Falls, MT, it’s likely you’ve heard that selling a house with solar panels is challenging. This is the case because panels come with long-term obligations, and a buyer would have to pick these up as part of purchasing the property.
However, in specific markets like Great Falls, solar panels can add value to a home and even boost the asking price. That said, not all buyers see solar panels as a boon—many see them as a burden.
Fortunately, selling a home with solar panels is not as challenging as many assume. You just have to understand how the panels work and highlight the benefits of the panels to ensure a quick sale.
Here are five issues you might face when selling a home with solar panels and tips for overcoming them:
#1: Buyer Hesitation
Though solar panels have been around for awhile, not everyone is aware of them. So if a buyer is unfamiliar with the benefits associated with panels, they may hesitate to complete the purchase. They’ll probably be concerned about maintenance and repairs. And a lot of people don’t like relying on a warranty they didn’t take out if something goes wrong.
These are legitimate worries, especially if the buyer has never purchased a home with solar panels before. You can overcome this issue by explaining the benefits of rooftop solar panels. Specifically, you should highlight how these will lower energy bills.
#2: Agent Hesitation
Like buyers, some agents hesitate to take on homes that have solar panels. This is because the agents themselves do not understand the product and consider it extra work. If you’re having difficulty convincing agents to list your home, the easiest and most convenient option is to sell to a cash home buyer in Great Falls, MT. Cash buyers purchase homes as is, even if you have installed expensive solar panels on your roof.
#3: Seller Hesitation
Sometimes sellers aren’t too thrilled with the solar panels either. They regret their decision, and if they show this it can scare off buyers. Other times, sellers misplace the documents needed to properly operate and maintain the solar panels. We highly recommend that you properly store information about your solar panels, including bills, receipts, and tax details, so you can share these with buyers.
#4: Valuation Troubles
Today it’s common for listing sites to assess your home’s eco-friendliness. On such sites, green features like a LEED certification, passive or active solar PV, and energy-efficient lights will add to your home’s value. But the trouble here is that not all appraisers know how to calculate the true value of a green home. If you cannot find a qualified appraiser, it might be challenging to determine the actual value of your home.
#5: Solar Leases
This is often the biggest obstacle when selling a home with solar panels. If you have installed solar panels on a lease, the monthly expense from the lease might dissuade buyers from choosing your home. This is because the monthly lease raises their debt-to-income ratio, which may cause them to back out of the deal.
The Takeaway Contrary to popular belief, selling a home with solar panels isn’t all that much more difficult than selling a regular house. And knowing these five obstacles can help you make the right choices when you’re selling your home with solar panels.