Will Solar Panels Add Value to Your Sotogrande Home?
Many of my applicants looking for a villa or penthouse in Sotogrande ask me if the property have some sort of eco-friendly and or economic power source. After all we are in a year-round sunny part of the world where we boast 300 days of sunshine. My answer is…. “of course, solar power has become very popular and primarily for two good reasons, lower electricity bill and a reduced carbon footprint”.
Does Solar Energy Boost Property Value?
The question is whether solar energy adds value to your home when it comes to sell. The answer may not be that obvious. Investing in solar energy does have an upfront cost which can be years before the investment becomes cost effective. Further adding this cost albeit notionally to the value of the property may be in many instances not be material. Financially, a €30,000 investment in solar energy may not impact a 3-million-euro home valuation.
I have seen property with alternative energy sources be it solar, or even upgrades with a heat pumps and photovoltaic panels for example be preferred to a similar priced property that do not have the upgrade. This is particularly relevant in today’s current “energy crisis” we are suffering in Europe. Any way of being more efficient and less costly does add value. Not many will do the math involved to calculate the actual savings, but a vendor must always remember their villa or apartment is competing with other similar property for sale in the mediate neighbourhood, so by simply having a solar energy power source does provide an advantage.
The right buyer may find your home more appealing due to a solar system, but not all buyers care about having solar power. I would recommend anyone looking to upgrade with solar energy to call me before deciding to add solar energy source if the reason to do so is to improve the property value for a sale.
Boosting Home Value: Smart Investments Beyond Solar Panels
A solar power system added to your home can add value when you sell. However, you should be aware, it won’t be the biggest return on investment. Visibility is also a factor. Most solar energy installations are hidden away and can’t be seen. Upgrades that can be seen and displayed have more impact when selling a home. Other home improvements that may have a higher return on investment and can be more impactful are:
- Minor kitchen remodel. A lot can be achieved with by replacing cabinet doors, a new work top and possibly a new floor.
- Window replacement. Double glazed windows go a long way to better insulate a home, meaning cheaper energy costs both in winter (heating) and summer (air conditioning)
- Deck addition. Much time is spent outdoors in Sotogrande. A fresh-looking decking on the terrace can make a huge difference appearance and therefore property price.
So, in conclusion, you don’t have to spend a lot of money to make your home more appealing to buyers — and doing so can make a big difference. A well-maintained home may sell for about 10% more than a similar home in average condition. Buyers are making a big investment, and they want the peace of mind that they’re investing in a home that was well cared for.
Charlie +34 607 911 661
Stephanie +34 607 465 383
Noll Sotogrande Real Estate
We deliver the dream of home-ownership in Sotogrande
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