Solar panels- do they increase value?
Installing solar panels on your home may make no difference to how much it’s worth, according to two thirds of estate agents.
Research for consumer group Which carried out by NAEA Propertymark, questioning 1,252 estate agent businesses, reveals that just eight per cent of estate agents say the panels increase values, but 17 per cent suggest they decrease values. Some 67 per cent say they make no difference.
Solar panels are considered by many home owners as a long-term investment, costing £5,000 to £8,000 to install and expected to last 25 years.
National Association of Estate Agent’s managing director Mark Hayward says panels are unlikely to feature in any new valuation models for agents or mortgage providers. “They’re on very few people’s shopping lists at the moment. People don’t buy features, they buy benefits. So you need to articulate it in terms of savings” he says.
Love them or hate them, they appear to save money and some people swear by them, even turn a profit from selling power to the National Grid. But, it doesn’t alter the fact that they are on your roof. Aesthetics is very important to many buyers, who may turn down a property on that basis, even though the running costs are lower. That is the wonder of personal preference and choice. It doesn’t always make sense, so there is no actual right or wrong.
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