Solar panels represent a safe and eco-friendly way of producing energy for your home.
Cheap electricity is enticing, but there are many pitfalls you can fall into if you are not careful. With that in mind, here is everything you need to check when buying a house with solar panels.
Will you get the solar panels with the house?
Many homeowners look at solar panels as their little toys, so do not be surprised if the seller decides to relocate their solar panels to the new home. Furthermore, it is also possible to rent solar panels, so they might belong to a different person and not the seller.
What are the monthly maintenance fees?
Although solar panels pretty much work on their own once set up, they still need regular maintenance from time to time. Be sure to check how much that costs on a monthly level. An excellent way to figure this out is to call Austin solar installers and ask for all the fees. They should be able to give you an approximate price.
Does the monthly payment change over time?
Since solar lease rates increase every year, it is crucial to check if your payment plan will change over time. Furthermore, make sure to check the lease term. They usually go for 20 years, but that does not have to be the case with the home you are considering to buy.
Is the roof in good condition?
The roof condition is high on the list of the things to check when buying a house with solar panels. It deteriorates over time, and shingles may rust or break under heavy weather. Unless you are purchasing a home with off-grid solar panels, it is smart to check if the roof material is good for the solar system.
Solar panels installed through a loan
This is a piece of interesting information, but know that, if the seller bought their South Texas solar systems through a loan, that will always remain their liability. Even if they sell the house, you as the new owner will not have to pay off their remaining loan rates.
Nevertheless, it is a vital thing to check when buying a house with solar panels. If the homeowner bought solar panels through PACE financing, you have a whole other situation.
PACE payment plan
Solar companies in Texas also sell solar panels through the PACE payment system. Remember that the PACE financing is a part of the property, and it transfers to you as soon as you purchase the house. If you are not ready to cover someone else’s solar panel payment plan, maybe this home is not for you.
Is it possible to upgrade or extend your future property?
One of the many joys of relocating to a new home is that you will be able to remodel the place completely. Adding new stuff and expanding the property is a process everyone enjoys. However, before you start making plans with your trusty moving crew from heavenlymove.com, make sure that you can upgrade the home you are buying in the future.
It often happens that, because of the way that the solar panels are installed, it is not possible to move them or do any attic or roof extensions. This can be a bummer, especially if that remodel is something you have been planning for a long time.
Will the solar panels bring profit or loss?
Even though solar energy is an affordable form of energy today, that does not necessarily mean you will make a profit or save money on your new home. If the solar panels are not installed properly or are not under the correct angle, energy production will be substantially reduced. With the added maintenance fees, you might be at a loss instead of at an advantage.
To prevent this from happening, get in touch with the best solar companies in Texas, and let them inspect your setup. They might discover that the solar panels need an upgrade or a quick fix to produce more energy.
Check what company made the panels, and if the owner has all the documentation
Another critical thing to check when buying a house with solar panels is if the owner has all the documentation. Furthermore, it is crucial to determine what company made the solar panels. If they are of low quality or simply old, you might have to replace them. You should choose some of the best residential solar panels San Antonio has to offer.
Final verdict
Now that we know everything you need to check when buying a house with solar panels, let’s do a quick summary and see if that is a good option or not:
- it is imperative to check if the solar panels are leased or owned by the seller;
- are the solar panels staying in your possession or not;
- how much are monthly maintenance fees;
- will the monthly payment rate change over time or not;
- in what condition are the roof and the solar panels;
- are solar panels installed through a loan or a PACE payment plan;
- is there an option for property upgrade or not;
- are the solar panels producing the maximum capacity of solar energy;
- what company made the solar panels;
All things considered, if the answers to the questions above satisfy you, buying a home with solar panels can turn out to be a profitable investment. You will get a finished product without the hassle of finding a good company, purchasing solar panels, having them installed, and much more.
The good news is that the house is probably already optimized to bring out the solar system’s full potential. You can sit back, relax, and enjoy the benefits of cheap, renewable energy!