There is no denying homeowners benefit from adding value to their property. Even if you aren’t looking to sell your home for some time, the improvements which add value to a house will likely make your life more enjoyable or pleasant right now.
Knowing you can combine short and long-term benefits is a great comfort for many homeowners, and this is why a lot of homeowners are taking energy-efficiency upgrades very seriously.
One area that has been popular with homeowners of late is solar panel upgrades. A lot of people approve of solar power as an energy source, and there is an opportunity to boost the value of your home with this style of change.
Lowering energy bills is a smart move
Anything which lowers energy bills is good news. This is true for current homeowners and any future buyer who is looking for an affordable home. 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:
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Homeowners in London can expect to see their property value increase by £90,000
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In Bristol, solar panels have been found to add £45,142 to the value of property
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Edinburgh homeowners can add over £40,000 to the value of their home with solar panels
You can lower long-term energy bills dramatically with solar panels
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:
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Solar power is a renewable source of energy, which is of interest to many people
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You can lower your energy bills with solar panels
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There isn’t a great deal of maintenance associated with these panels
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It indicates the home, and its owners, is forward-thinking
Some potential drawbacks of solar energy include:
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There is an initial cost in installing the solar panels
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Your overall benefit is impacted by the level of sunlight you enjoy at home
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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.”
If you have any housing market questions or queries, please feel free to contact us. If you plan on selling your home, we recommend arranging a property valuation to ensure you make an informed decision. At Frank Schippers, we are here to support you in this trying time, and you can call us on 01344 777 888.
