For many Australians, your home is your most significant financial asset. In most cases, owning a property in Sydney can only come after years of hard work, money-saving strategies, and dedication to meeting strict mortgage repayment requirements. Such an important investment – in both emotional and financial terms – should be treated with the utmost care and attention. It is crucial that you maintain your home well and regularly upgrade its features in order to optimise its market value.
At the mention of ‘property upgrades’, most people immediately think of renovations – large-scale DIY projects or expensive home reconstructions that require contractors and months of hard labour. Property extensions or refurbishments often mandate that you vacate the premises, effectively leaving you and your family in limbo until the job is complete. Even relatively simple tasks like pool installations can be costly, time-consuming, and noisy, not to mention that these additions may not even increase your property’s value if they are not highly sought-after in your area.
But don’t stress! There is a cheap, cost-effective, and energy-saving alternative guaranteed to add immediate value to your property – solar panels. A Solar panel installation in Sydney is not only an investment in the future of the planet and sustainable energy, but also a direct, measurable investment in boosting your home’s market price. There is no better way to save money on energy bills while also making a positive contribution to the environment and increasing the desirability of your property.
Unlike pools or elaborate front decks, everybody in Australia needs electricity, and a solar panel installation will dramatically reduce the cost of electricity bills for potential home buyers. Solar panels are an extremely appealing home addition for buyers because of the huge reduction of quarterly power bills, as well as the inherent attraction of reducing their carbon footprint. With Tier one, state of the art solar panels, your property will be at a significant advantage in buyers’ eyes compared to other properties still connected to traditional, non-sustainable electricity supplies.
For example, imagine that your property is priced at $500,000. Your neighbour’s property is also selling for the same price. However, your property comes equipped with 5kW of solar panels that promise a dramatic long-term reduction in the cost of electricity bills. Your property will be much more appealing to buyers, and while you probably could not directly increase its market price to $550,000, it would certainly be chosen over your neighbour’s property. The real value of solar panels is comparative, placing your property well above the competition and guaranteeing a faster sale.
That being said, real estate companies estimate that the number of solar panels on a property can be in direct correlation to its overall market value – in other words, the more quality solar panels installed on a home, the more it’s worth. Some research even indicates that a home’s price will increase by up to $6000 per kW of solar power. Whether or not solar panels will add an extra 50k to your home’s value, it’s clear that they are extremely attractive to buyers, and they are the safest and most ethical investment to make when it comes to upgrading your property.
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