Residential Real Estate

SOLAR: PURCHASE VERSUS LEASE AND THE VALUE OF YOUR HOME

By Chad Arend, The Arend Team

Accordingly to Alex Baird with Arizona Solar Brokers, here are the differences between purchasing and leasing solar panels for your home:

Chad Arend - Realtor Neighborhood Specialist Chad Arend - Realtor Neighborhood Specialist Chad Arend - Realtor Neighborhood Specialist

“Both options have pros and cons. When we look at a solar lease option, the main advantage is that it is very low risk. The solar company owns the panels and is completely responsible for them. You don’t have to worry about anything with taxes or incomerelated requirements. You just get to enjoy monthly savings and know that you’re doing a good thing for the planet. The biggest con to leasing is kind of the same as the pros, however. Since you don’t own anything, you don’t get maximize the real savings power of the solar system. You don’t get to claim any of the free government money, or the increase in home value and equity of the solar system.”

“When it comes down to it, owning your solar panels is usually the way to go,” he continues. “You don’t have to pay anything out of pocket with the current financing options. Your electric bill is drastically reduced, and you’re left with a much smaller solar payment. Plus you’ve made thousands of dollars in free money from the government.”

From a realtor’s perspective, I fully agree with the comments Alex makes regarding the home value and solar purchase. A leased system will have little to no effect on the home’s value. In fact, it could be a deterrent for some buyers that don’t see the value in a solar system or don’t want one. Since the lease typically requires $0 upfront, and the payment could increase throughout time, no value continues to the new owner. When purchasing a solar system, either outright or via loan, the system will translate value to a new buyer as they’ll get to use the system at a reduced cost.

We have the experienced team to handle the complicated We have the experienced team to handle the buying process of short sales, lender owned homes and complicated buying process of short sales, lender Currently in the 85085 zip code, homes with an owned solar system have sold for an average of $502,800 at 2,956 square feet or $176.23 per Chad Arend Realtor Direct: 602-740-2074 Email: investor flips. We strive to make sure how clients are happy with our service every step of the way, from initial marketing meeting, to after closing. We promise you won’t be disappointed. • Local market knowledgeable • 14 years full time real estate experience • Excellent follow up skills • Aggressive negotiation tactics • Extensive marketing campaigns We have the experienced team to handle the complicated buying process of short sales, lender owned homes and investor flips. We strive to make sure how clients are happy with our service every step of the way, from initial marketing meeting, to after closing. We promise you won’t be disappointed. • Local market knowledgeable • 14 years full time real estate experience owned homes and investor flips. We strive to make sure how clients are happy with our service every step of the way, from initial marketing meeting, to after closing. We promise you won’t be disappointed. • Local market knowledgeable • 14 years full time real estate experience • Excellent follow up skills • Aggressive negotiation tactics • Extensive marketing campaigns • Large client base with multiple referral channels • Community & Neighborhood involvement Chad Arend Realtor Direct: 602-740-2074 Email: Chad@TheArendTeam.com www.TheArendTeam.com Office: 21630 N 19th Ave Ste B8 Phoenix, AZ 85027 square foot. Compared to those with a leased system of $460,750 at 2,696 or $167.61 per square foot. That being said, I don’t see the increase in home value by more than the cost of the system, so if you are Chad@TheArendTeam.com www.TheArendTeam.com Office 21630 N 19th Ave Ste B8 Phoenix, AZ 85027 Chad Arend Realtor Direct: 602-740-2074 Email: Chad@TheArendTeam.com www.TheArendTeam.com Office • • • • • • Large client base with multiple referral channels • Community & Neighborhood involvement Excellent follow up skills Aggressive negotiation tactics Extensive marketing campaigns Large client base with multiple referral channels Community & Neighborhood involvement (602) 765-3737 Open when you need us considering moving within the next 21630 N 19th Ave Ste B8 couple years, it would be best to stay Phoenix, AZ 85027 away from solar in the interim. But if you plan to stay in your home for the foreseeable future, it might certainly be worth looking into. The Arend Team strives to be on Service You Can Trust!the forefront of the local real estate market and provide the best service and response time to long-time clients RESIDENTIAL AND COMMERCIAL WHY CHOOSE US? and new customers alike. We keep on the forefront of technology, yet also keep tried and true methods. Our industry skills include aggressive CLEANING SERVICE For more than 20 years, New Image Cleaning Service has been providing the Phoenix, AZ area with high-quality and   We are proud members of the BBB, and maintain an A-plus rating. New Image Cleaning Service has a number of positive community references. negotiation tactics, local knowledge, dependable residential and commercial  The majority of our team have worked with us for always update-to-date contract cleaning services. We are known for building more than 10 years. knowledge, premier marketing tools and a strong support staff. We always assure every client involved in the real estate transaction is “kept-in-thea strong rapport with our clients, and work diligently to meet the needs of our clients both large and small. Don’t delay! Contact us today to learn more about our services and receive a free estimate!   We are the premier cleaning company in Phoenix, AZ. The latest equipment and technology is employed by our staff members. know” on each aspect of the buying or selling process. Our goal is to make sure we maintain a true “clients first” attitude toward all aspects of our business. New Image Cleaning Service Valleywide (602) 765-3737 www.newimagecleaning.com SUMMER SPECIAL 25% DISCOUNT on Carpet Cleaning Must mention coupon. Not valid with other offers. Offer expires July 31, 2020