Posted by
Crystal Lee

Will Solar Panels Affect Neighboring Home Values?

Hi, I’m considering putting solar panels on my townhome but a neighbor is worried it might affect her townhome value or sellability. It will be visible from the driveway but not too visible from the street. One additional thing to consider is that there are 4 townhomes and our roofs are connected. Do any of you have experience with clients disliking solar panels on a neighboring house? I’m sure this is a special situation too since my neighbor and I have connected roofs. I will be sure to get a roof inspection when considering installation. Solar may not even be optimal for the house but I wanted to ensure that it won’t be detrimental to my neighbors if everything looks good for install.

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Will Solar Panels Affect Neighboring Home Values?

By Crystal Lee   
Posted on Feb 23, 2021 in Topic: Green Living
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Hi, I’m considering putting solar panels on my townhome but a neighbor is worried it might affect her townhome value or sellability. It will be visible from the driveway but not too visible from the street. One additional thing to consider is that there are 4 townhomes and our roofs are connected. Do any of you have experience with clients disliking solar panels on a neighboring house? I’m sure this is a special situation too since my neighbor and I have connected roofs. I will be sure to get a roof inspection when considering installation. Solar may not even be optimal for the house but I wanted to ensure that it won’t be detrimental to my neighbors if everything looks good for install.

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  • The townhomes don\'t have an HOA, it\'s simply a collection of neighbors and we discuss when common issues come up. We all get along well and have collaborated for fencing and pest control projects. I do plan to stay in the house for at least 5 years, probably more, and would prefer to buy the solar panels + power wall so that potential buyers won\'t be forced into a lease. My main concern is that my neighbors\' home values won\'t decrease because of my panels (if installed).
    about 2 months ago
Status: Open
Viewed: 485
Asked by: Consumer
Posted: 2 months ago
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Bronze
Michelle N. Briggs
about 2 months ago
Will your HOA allow them to be installed? Reach out to them first to see if it is an option for you. Also , how long do you see yourself living in your current home? Will you be leasing the panels and for how long? Just a couple of questions to keep in mind because a 20 year lease for the panels may deter a buyer should you ever decide to sell.


Source:


https://www.texasrealestate.com/members/communications/texas-realtor-magazine/issues/december-2020/solar-savings/\nhttps://money.com/home-value-solar-panels/

about 2 months ago
Gold
James Meador
about 1 month ago
Hi Crystal!

I don't think installing solar panels would affect the price of a neighbor's property, even if the roofs are connected, such as in your townhome situation. One would have to see the property to get an idea of the visual impact. A poor quality installation might have an effect on your home values. Adding solar panels may or may not ADD value to your home, depending on where you are located, whether the panels were bought or leased, and other variables.

As far as clients I've worked with, some people like the way it looks and some do not. Others like the benefits and others balk at the cost. So while it may not affect the appraised value of your property or your neighbor's, it may limit the pool of buyers for yourself and your neighbor in case one of you wants to sell in the future.


Source:


https://www.texasrealestate.com/members/communications/texas-realtor-magazine/issues/august-2019/do-solar-panels-add-value-to-a-home/

about 1 month ago
Diamond
Joe Applewhite
about 1 month ago
Homes with Solar Panels generally have their value increased. This would cause comps to increase as well. It's likely it would increase the value of their home.


about 1 month ago
Bronze
Melissa Miles
about 3 weeks ago
Solar panels can be a valuable investment for future buyers they've been recently installed and when you’re living in a location where it’s becoming the norm. If lots of homes in your area have solar panels, and buyers are learning to expect them, adding them might give you something extra to promote your home when it comes time to sell. However, if few homes have solar panels and buyers tend not to pay for the investment, you might not get back the money you put into the panels. And you may find that house hunters in your area don't like the look and it could deter them from buying in that area. Solar panels can be a hinderance once they get older, and you also want to make sure you're aware that if you are leasing the panels and decide to sell your home during the lease it will be nearly impossible for buyers to secure a loan to purchase the home. Often banks won't even grant a buyer a loan on a property if there's a leased solar package involved. Also, if they come with a warranty, make sure that the warranty is transferrable to the new owners if you ever choose to sell.



about 3 weeks ago
Bronze
Pauline Clement
about 2 weeks ago
Solar awareness for energy efficiency or resale value can provide several pros and a few cons as well. These panels can be a pro renewable energy source and also can be a con source that has a cost to it. While they reduce energy bills, on the con side they are weather dependent. Greenmatch.com has a more extensive comparison. According to Texas Property Code In Texas, an HOA cannot legally prohibit a homeowner from installing solar on their property. ... Texas Property Code 202.010 states that HOAs are not allowed to include or enforce provisions within their regulations, covenants, or by-laws that prohibit or restrict homeowners from installing a solar energy device. I hope this information prompts you to do a little more research in the direction of cost and purpose of installation and with your particular neighbors and your HOA since that seems to be one of your main concerns.


Source:


Gosolartexas.org

about 2 weeks ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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