Does it Make Sense to Invest in Solar?

There are many great San Fernando Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 818-720-9922 for a FREE home buying or selling consultation to answer any of your real estate questions.

Many of our clients ask us whether solar panels are worth the investment. It really depends - there are a few things to consider if you are thinking about investing in solar technology for your home:

• Buying: If you buy solar panels for your home, it's going to take a long time before you see a return on your investment. If you plan on moving within the next 10 years, you're not going to save any money on your electricity bill. You have to live in your home a long time before the $200 dollars a month you save will pay off the panels.

• Leasing: Leasing the panels can create many problems when you try to sell your home because the buyer will have to qualify for the lease payment. The buyer loses some of their purchasing power because it will have to be factored into their loan approval.

If you're looking to get solar panels simply to make an environmentally friendly decision, there's no reason not to. However, if you're trying to save money on your electric bill, it will take a very long time before you'll see a return on your investment.

If you have any further questions about solar, or simply have a general real estate question, please give us a call. We look forward to hearing from you soon!