Selling a house with solar panels may seem easy. Making the addition of solar panels to your home should only improve its desirability to potential buyers if you ever decide to sell the property.
The low bills and possible earnings from the government’s feed-in tariff should appeal to all buyers. However, the inclusion of solar panels in a sale is not as straightforward as it seems.
One of the main issues with selling a home fitted with solar panels is that we are still relatively unused to solar panels on the housing market. Only around 1-2% of homes in the UK currently have solar panels installed and estate agents and property solicitors are still acclimatising to the relatively new green property ideas. Additionally, RICS (Royal Institution of Chartered Surveyors) has recently suggested that purchasing homes with solar panels already installed could prove problematic, making selling even more difficult.
RICS advice on Selling a House with Solar Panels:
RICS states that the following issues can be encountered when purchasing and selling a house with solar panels:
- Structural damage. Improperly fitted panels could have caused damage to the roof itself. The roof may even not be strong enough to hold the panels long-term. Make sure to have your panels installed by a competent installer.
- Issues with the lease. In cases where you do not fully own the panels you have installed, issues with the lease can put off potential buyers. Many leases last up to 25 years, meaning that any buyer will be stuck with the lease for the remainder of the time. If they do not want to keep up the lease for that period, they are unlikely to want to purchase the property.
- Issues with the mortgage. Installing solar panels and leasing the roof to solar energy companies without discussing this with the mortgage provider can cause problems when the time comes to sell the property.
Other potential issues with selling a house with solar panels:
Additionally, the feed-in tariff has been cut since its first introduction, meaning that in terms of earnings solar panels are no longer as attractive to buyers. As well as this, buyers may dislike the appearance of solar panels, or may wish to use an alternative form of renewable energy system.
These issues should all be considered before installing solar panels or before purchasing a property with solar panels installed.tagsfor salehouse saleinstalling solar panelssolar panels