Solar homes excite buyers in a crowded property market

A new survey provides some astonishing insights into the fortunes of home owners with rooftop solar power systems installed. The results reinforce the virtue of solar power and prove that it is no longer only suitable for people looking to stay in the same house for a long period of time.

The survey, conducted by RealEstate.com.au, reveals that 85 per cent of respondents believed that a property with solar panels was worth more than one without. According to the survey solar panels also proved more popular with potential buyers than any other “green” features, such as energy efficient appliances, water tanks and other water saving fixtures.

Far from negligible, an overwhelming 78 per cent of respondents believing a solar system would add $10,000 to the price of the home. As it turns out, this is almost twice the standard cost of installing a typical 3kW or 4kW solar system.

When auditing a property for sale most of us would consider the usual household renovations: freshening up the curtains, splashing on a new coat of paint and maybe installing a new kitchen. Few sellers look at their roof as an investment potential, however as the survey results prove a vacant rooftop is a wasted opportunity.

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There’s good news for landlords looking for ways to stand out in a crowded market and increase the appeal of their rental property. Three quarters of the respondents indicated they would be willing to pay additional rent to live a property that provided free electricity during day, with 40 per cent suggesting they’d pay as much as an extra $10 per week.

REA Group Chief Product Officer, Henry, Ruiz, confirmed the reports findings and explained, “Having solar panels installed on your roof represents a valuable investment in your property, as this research shows.”

“If you’re looking to sell or lease your property, it’s a really simple measure you can take to gain a competitive edge in the market,’’ said Ruiz.