Selling a house with Solar Panels

Katy24_2

Does anyone have any experience of either buying or selling a property with solar panels? We have a 4 year old 3.8kw solar PV system which is generating about £1500 per year. We are looking to move, but opinions seem to vary wildly from it adding value and being a selling point to it being completely worthless and even putting buyers off. Has anyone either bought or sold a house with solar panels and how did it impact on the sale?

clarky_cat

I've been looking to buy lately and one of the properties the EA sent me has solar panels and they are using it as selling point.

The description for the property includes "We have also fitted a solar installation to the rear roof that will generate, for the next 20 years, a handsome income for the homeowner as well as lowering electricity bills. "

It wouldn't put me off personally, I'd see it as a bonus.

theartfullodger

It's not exactly "generating about £1,500 per year", more accurately it is being subsidised by the poor taxpayer to about £1,500pa: It generates much, much less in real, non-subsidised, leccy costs.

Mojisola

Katy24 wrote: »

We are looking to move, but opinions seem to vary wildly from it adding value and being a selling point to it being completely worthless and even putting buyers off.

When I was selling Dad's house, the roof was ideal for solar panels so I usually brought it up in the conversation. I found it was a real 'marmite' subject - several people said they wouldn't have even looked at the house if it already had solar panels while others were very interested.

I looked at it as just another one of those things that will put off some buyers - you can't please everyone. Different people will have a list of 'must haves' and another of 'won't buy if the house has ...' - not much you can do about it.

theartfullodger

Very sensible Moji, completely agree:

Like swimming pools, hot tubs, stone cladding, etc etc etc...

eddddy

Katy24 wrote: »

... but opinions seem to vary wildly from it adding value and being a selling point to it being completely worthless and even putting buyers off.
...

The key question is - do you own them, or have you sold a lease on your roof (rent-a-roof)?

If you own them, it's much more straightforward. No mortgage companies will object. And if a buyer doesn't like them, they can just remove them and throw them away.

If you've sold a lease, it's much more problematic. Even worse, if the lease doesn't comply with CML guidelines, the house probably won't be mortgageable.

Out,_Vile_Jelly

Ask your estate agent for their view based on local sales. You can just describe it factually in the particulars, no need for the (usually misspelt) guff you sometimes read; imagining yourself relaxing in the glorious garden, or enjoying the lifestyle kitchen and suchlike.

stator

Are they on the front of your house, visible from the road? Or the back? If they are visible then it will put some people off. It wouldn't put me off though.

As eddddy has said above if you didn't own them it would cause problems, the leases can get complicated. But it does sound like you do own them, so if you advertise your house make it very clear on the advert that you own them 100% outright and there will be no problem getting a mortgage.

DRP

Perhaps I'm not a very trusting person, but I would be put off buying someone else's solar panels, as there seems to be lots of cowboys out there.

I would be slightly less concerned if there were very comprehensive paperwork, warranties, reputable supplier etc.

Katy24_2

Thanks for the quick replies. We own the panels outright and they are not visible from the road. I can understand a buyers hesitation as not common technology. Has anyone experience of the actual transfer of the FiT or retained it themselves and not included it in the sale of the property?

Jugers

If you're at all dubious don't mention them in the listing but make sure the estate agent mentions them when doing viewings. I very much doubt someone would buy a house just because it had solar panels on the roof, however as with anything that you think may put people off, don't mention it until they have viewed otherwise you are putting off potential buyers who are not traceable (ie once they have viewed the estate agent has their contact details).