Solar panels, in theory, are an excellent investment. But without proper research, solar panels could be a nightmare.
Florida is a fantastic place to collect energy via solar panels. But are solar panels a good upgrade for your home?
So please do these 4 things before installing a solar panel system.
#1 Talk to your insurance company
There's a lot of information online that may or may not apply to your policy.
So go to the source.
Talk to your insurance provider to find out what your policy will cover if you install solar panels.
Ask how much your homeowner's insurance will increase after installing solar panels.
Side note: During hurricane season, harsh winds could rip solar panels off the roof. Damage other people's property, or even injure someone. Get additional insurance if your current policy doesn't cover solar panel damage.
#2 Contact your utility company
You want to know how much you will save on your electric bill.
Based on your energy consumption history, ask your utility company how much your monthly bill would be. Give them details about the system so they can give you a better estimate.
#3 Get the homeowners association's approval
Believe it or not, the HOA is looking out for you. They want to make sure the solar panels are correctly installed. And they check for the company's legitimacy by requesting its license and insurance. So, fill out the form and go through the process.
#4 Talk to a Real Estate Agent
If you're considering selling your property in the future, talk to your real estate agent (so call me or text me.) You want to know how the solar panels will affect the sale of your property in the future.
If you own the solar panels outright, that's a considerable upgrade, and you have nothing to worry about. If you don't, there could be challenges in getting the buyer's loan approved.
Banks could deny a loan if solar panels are financed or leased because they see them as a liability, not an asset.
Takeaways:
- Do your research before installing a solar panel system in your home.
- Don't rely on online or the solar panel company's information to decide.
- Figure out if the investment justifies the cost.
Consult with a Professional:
Get relevant information from one of Kissimmee's most experienced and knowledgeable local agents. Fill out the form below to schedule your risk-free consultation.
Thank you!
Thank you so much for reading, and if you found this article helpful, share it with others.
My mission:
To guide, inform and inspire you to take the 1st step towards your best life. Buy or sell homes with confidence. -Jury Hernandez, Broker Associate
