Go green, right? No down payment or installation costs and save on your electric bill. Just lease the solar system for 20 years for a reasonable monthly payment. No-brainer, right?
Not so fast!
What happens if you need to sell your home within that 20 year time frame? Are you prepared to buy the lease out? In many cases sellers can't afford to or won't buy out the lease, leaving potential buyers in a position to have to qualify, credit-wise, to take over the lease. Their monthly financial commitments increase and that, in turn, can affect their ability to qualify for their mortgage loan.
True story from our office. Sellers have a leased solar system costing them $200 a month. When the solar company is approached to transfer the lease on the sale of their home, the new buyers are charged $350 a month. and are on the verge of not qualifying for their loan with that increased payment.
Think carefully before jumping into a solar lease! They are not necessarily the home "improvement" that boosts value and can, in many cases, drive demand for your property down.
Author:Dorian Kisch Phone: 805-712-4436 Dated: January 11th 2017 Views: 149 About Dorian: I’ve always known that I wanted to use my business acumen, experience and abilities to help famili...
View our latest blog posts in your RSS reader. Click here to access.
At RE/MAX Parkside Real Estate information is the currency of our business. Our goal is to provide our Clients with the information necessary to make successful real estate decisions. RE/MAX Parkside is locally owned and an integral part of the North County community.
Relationships are at the core of our business practice. The team concept is interwoven throughout our office, Client and vendor base. We treat people as we wish to be treated. Our strong community relationships open doors for clients new and old.
We believe our duty is to quantifiably add value to the buying and selling process. Our buyers are fully educated to the neighborhoods and community features. Our inventory and data banks are unequalled in the business. In marketing properties we disseminate quality sales material in a consistent, broad and professional manner. Urban and rural buyers are targeted with quality promotional advertising via electronic and print media. We make things happen.
People make our company strong. We are fortunate to have a strong cadre of professional real estate agents. These agents are committed to the highest level of Client service. We respect the taste and intelligence of our Clients and believe in conducting all aspects of a real estate transaction with the highest regard for quality.
People, location, information and a strong work ethic combine to make RE/MAX Parkside Real Estate the premier real estate brokerage house on the central coast. We are proud to service San Luis Obispo County and grateful for our respected clients.
This Heritage Ranch home is super clean and move in ready for you and
"We couldn't have made it through with anyone else. We will be forever grateful for his commitment to serving his clients. Ken had the knowledge and expertise that made our complicated sale possible. He stuck with us and kept us positive and moving forward through all the difficulties of selling our home and buying a new home. His communication is excellent. He took the time to understand our concerns and provide solutions to all the problems that arose. He helped us make our dreams come true! "