My husband and I have just welcomed our first child and are living in a small, terraced two-bed. In the next couple of years, we will need to move for more space. However, in light of rising energy costs, we’re wondering if it might make sense to upgrade the energy efficiency of the house and install solar panels. Is this a good investment if we are looking to sell in the next two to three years or is it only worthwhile if we stay for longer? Would the energy upgrades or solar panels be reflected in the price we would get for our home or just in our own energy savings?
As an estate agent, I can understand your concerns about upgrading your home’s energy efficiency and installing solar panels, especially if you’re planning to sell in the next few years. While there are benefits to making these upgrades, the ultimate impact on your property’s value will depend on a variety of factors.
For one, installing solar panels can make your home more appealing to potential buyers, especially those who prioritise sustainability and energy efficiency. According to a survey by Daft.ie, homes with solar panels installed sell faster than those without, suggesting a growing demand for more environmentally friendly homes. Additionally, given the rise in energy costs, energy-efficient upgrades can potentially lead to a higher sale price.
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[ Solar power: What much will it cost you, and how much will you save?Opens in new window ]
The Government also offers incentives for households to install solar panels, with grants of up to €2,400 available. This can help offset the upfront costs of installation and make your property more attractive to potential buyers. Just remember it’s important to keep all documents relating to any energy-efficiency upgrades, including the solar panel installation, as they may be required by your Ber assessor when selling your home.
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It’s important that you assess the overall condition of your home and the expenses associated with installation before making any upgrades. While energy-efficient upgrades and solar panels can certainly enhance the appeal of your home, the value they add will depend on various factors, such as the location, size and type of solar panels, and the overall condition of your property. As you’re planning to sell in the next couple of years, it’s important to consider the upfront costs of installation against the potential return on investment.
In conclusion, while making energy-efficient upgrades and installing solar panels can be beneficial for homeowners, it’s essential to carry out a cost/benefit analysis. carefully. As an estate agent, I would recommend seeking professional advice and doing your own research before making any significant upgrades to your home. Ultimately, the decision to install solar panels and improve your home’s energy efficiency should be based on your personal beliefs, circumstances, financial situation and long-term goals.
Majella Galvin is an estate agent and a member of the Society of Chartered Surveyors Ireland
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