Understanding what happens when you sell or buy a home with solar panels goes a long way toward helping you make the decision to install solar panels.
Solar is an extremely important investment that makes your home more valuable, and also offers some long-term benefits such as;
- Lowering your electric bills.
- Reducing the over-reliance on fossil fuels.
- Protecting you from the rising energy costs.
Solar panel installers in Hillsborough County will help you accrue the benefits of solar panels immediately which is a significant boost to your home resale value.
How Do Solar Companies In Tampa Help Your Resale Value?
With the right solar company installing your panels, you will be able to realize a significantly high resale value.
According to an analysis by Zillow, most homes with solar panels had a resale value of around 4.1% more than homes without solar panels. Additionally, these homes also sell faster.
What If I Financed My Solar with a Loan?
If you financed your home through a loan, you would still enjoy the benefits of having a solar panel. The best solar energy companies in Tampa help their clients secure loans to finance solar panels.
One of the benefits of purchasing a solar panel is getting a 30% tax credit from the federal government.
If you do decide to sell your home, during the loan term, you will have a few options as per the type of loan. You can consult with solar services in Tampa for the following;
- If you financed your solar panels using a secured loan, such as home equity, then you shall be required to pay off the rest of the loan before selling, as your property was tied to the loan and used as collateral.
- If you financed using an unsecured loan then it is not tied to the home and you can sell it even before paying off the loan. You would however be responsible for paying it off, even after you have sold your home.
Whichever one you choose, ensure to hire a solar company in Pasco County to help you through the process.
Can You Sell a House with a Leased Solar System?
Yes. But you will still need to consult with solar energy companies in Tampa for the process. For example, you would have the following two options:
- To pay off the rest of the lease, or
- Transfer the least on to the new homeowner
Contact Us Today to Understand What Happens When You Sell or Buy a Home with Solar Panels
At Innovate Solar, Inc., Company, we deal with all sorts of solar-related issues. Contact us if you wish to either buy a solar system, lease, or rent one. We are more than happy to take you through the whole process.