The latest report is in addition to the company’s property valuation services, sales, and marketing for customers in the Napa County, Sonoma County, and East Bay areas.
More details can be found at https://blacklabel-realestate.com/blog/do-solar-panels-increase-home-value-in-san-francisco
Black Label Real Estate’s recent article discusses the benefits of solar energy in regards to property value – the company’s specialist area, with a focus on luxury homes across San Francisco.
With more buyers than ever before concerning themselves with the energy efficiency of properties, the concept of a self-sufficient home might seem like an appealing idea. For homeowners in San Francisco, known for its pleasant California climate, the installation of solar panels can seem like an obvious win in terms of increasing a property’s value, but as the latest report outlines, this is not always the case.
The company’s article goes into detail about why solar power is seemingly an attractive solution to a more energy-efficient home and offers statistics and research into the topic. According to the report, in 2019 there were over two million solar power installations across the USA, with this number predicted to double by 2023. Elsewhere, the research found that 46% of homeowners had considered it, or were still considering it.
Black Label Real Estate goes on to outline the pros and cons of installation, detailing that a higher demand for solar panels has led to an increased price tag, both for the panels themselves and for the installation and maintenance. But the author, Timothy Farnham elaborates, explaining that homes with self-sustaining solar energy systems sold for an average of 4.1 % more on the property market than those without. The article goes on to explain that in real-world terms, for a home valued at the median rate, this could translate to just under $10,000 more.
Later in the report, Tim explains that this number fluctuates, sometimes by a considerable amount, depending on the area and whether or not the panels themselves are owned or leased. This is because buyers are rarely interested in getting into a finance arrangement on top of the price of the property.
Interested parties can find out more and read the full report at http://blacklabel-realestate.com
Black Label Real Estate
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No JOURNAL RECITAL journalist was involved in the writing and production of this article.