When you are buying a home with a solar panel, you need to be sure that the panel is an asset and not a liability. The answers to these three questions will help you know the true value of your panels:
Who Was the Installer?
All roof installations, such as for communication antennas and solar panels, can mess with the roof's integrity and make it susceptible to damage. For example, a poorly installed panel can make your roof susceptible to water leakage if it punctures the roof. In fact, the damage may not be immediately apparent; it may only rear its ugly head years later. This is why homeowners are advised to look for experienced installers. As a buyer, you cannot choose the installer, but you can find out more about them. Only proceed with the purchase after confirming that the panels were installed by a professional and roof damage is unlikely.
Does the Homeowner Lease or Own the Panels?
Homeowners either lease or buy their own, and each process has its pros and cons. As a home buyer, however, the best option for you is a property with a solar that was purchased. There are several reasons for this; for example, the interest rates for the leases usually rise every year, and they can interfere with your mortgage repayments. It's not that you should not buy a house with a leased solar, but you should read the fine print and know what you are getting into before buying such a house.
How Much Will It Help You Save?
There are many reasons people invest in solar panels; one of the most common is to save on electricity bills. If this is your reason, then you should know how much you can save with the panels before buying the home. The best way to know this is to analyze the current homeowner's past utility bills. This is the best way to do it rather than using the wattage (power rating) of the panels because the actual energy output depends on many factors, including the actual sun energy hitting the panels. By looking at the previous bills, you get to see how much the solar panels reduced the current homeowner's electricity bills in practice.
This is one of the cases where you should use a real estate agent when buying a house. A seasoned agent who has handled similar houses in the past knows all their nuisances and will help you confirm whether the panel is worth the extra money you are likely to pay for it.