Home prices are soaring in Nevada. Supply simply cannot keep up with demand.
Median home prices have gone up 13.8%, or $90,000 for a single-family home in Las Vegas in just under a year’s time. This increase is even higher in Reno, at 16%.
Everywhere you look new homes are being built, but the speed at which these new homes become available is just not fast enough for the growing population and demand for new homes. So, if you are a current homeowner looking to sell, now is the time to increase the value of your home before you sell, in order to get the best return for your property. One way to do that is by upgrading your home to solar.
Upgrading to solar increases your home’s value by an average of about $15,000. Over 80% of buyers consider energy-efficiency as an important factor in selecting a home, and for many new home buyers, the energy savings could be a great incentive to offset the increased costs of purchasing during this period of real estate inflation.
One thing Nevada has plenty of is sunshine, so the likelihood that your home qualifies for solar is high, as are the benefits of upgrading. Many states and cities throughout the nation are embracing solar as a must in modern times, with California as a prime example, now requiring solar on all newly built homes. Solar is quickly becoming the modern standard for increased home value and energy efficiency.
Residents aren’t the only ones in the Nevada buyer’s market currently. Investment companies, like Zillow are buying as many properties as they can find right now between the $250,000-450,000 range, and utilizing them as rental properties. Since the supply of for sale properties is limited and the prices skyrocketing, many middle, working-class families will be nudged out of the market and be forced to rent at increased rates. These investment companies are banking on this. So, if you are a homeowner looking to sell, a solar upgrade could raise the value of your home and bank you a little more money when Zillow comes looking to purchase your home, especially since they could rent your property at a higher rate with the addition of solar. Lastly, the savings from solar power would also benefit the renter when it comes to expensive energy bills. So it’s basically a win-win-win.
I am a renter, and while I cannot upgrade to solar personally, the increased energy expenses during these hot Las Vegas summers is something that makes me wish that my house had solar to offset the costs. Though the increasing prices for home purchases may keep me in rentals a while longer, it’s good to know that many homes are upgrading to solar and the rental market is gaining more properties with panels already installed. So if you are a homeowner who is looking to rent out or already own a rental property, upgrading to solar could be a great benefit for both you and your tenants in the long run.
With increasing benefits from state and federal returns and incentives, plus many solar sales companies offering lower-than-ever pricing, zero money down and free installations, there’s really no better time than now to upgrade.
Nevada has nearly perfect weather conditions for solar and has the most solar installations per capita in the country. Nevada is also considered to be one of the US states where solar can make you money, thanks to savings generated, credits and incentives such as the 30% Federal tax credit, $2000 state rebate, and other incentive rebates for residential and small businesses, as well as performance payments from net metering, which allows you to sell the excess power you produce back into the grid.
Since the pandemic, more and more people are working remotely or from home. This means they will be spending more time at home and utilizing more energy consumption with all the zoom meetings and digital conferences. This also leads to an increase in the necessity and value of solar powered homes. More energy consumption from home means much higher energy bills, and the offset from energy-saving solar panels can mean the difference for many remote employees and home business owners to stay in business.
Solar has never been more affordable and convenient. There are lots of different options available, including cash purchase up-front which allows you to own your solar and generate the full potential benefits and savings from day 1, to leasing or financing options including free installation and zero down-payment plans. Making the switch is an investment that can benefit homeowners and sellers, renters and buyers, home business owners and remote employees, and more. If you haven’t considered solar, now is the time to do so, and if you are in the market to sell or rent your home here in Nevada, upgrading to solar now before you sell can help you get the most value and return on investment from your property.
Article Provided by: Solar Sun Pro - Las Vegas, NV - http://www.solarsunpro.com .
Written by: Ryan Barbin - Digital Marketing and Content Creator - Solar Sun Pro
For More Information on Why You SHOULD Consider Switching to Solar Energy, Read My Article Here: : Fossil Fuels Vs. Solar Power (wixsite.com)
Sources and Links:
What Nevada’s Hot Housing Market Means for Buyers, Sellers
Here’s How Much Adding Solar Panels Will Boost Your Home’s Value
Against All Odds, Las Vegas Housing Market Defies Experts
Las Vegas Housing Market Expected to Remain Hot Through End of the Year. At Least
Cash Further Squeezes an Already Tight Southern Nevada Housing Market https://vegasinc.lasvegassun.com/business/2021/jun/21/cash-further-squeezes-an-already-tight-southern-ne/
Las Vegas Real Estate Market: Prices /Trends/ Forecast 2021 https://www.noradarealestate.com/blog/las-vegas-real-estate-market/
Nevada Solar Panels: Why Solar Energy is Now Economical in Nevada https://solaractionalliance.org/solar-panel-installation/nevada/
Nevada Solar Rebates and Incentives https://www.cleanenergyauthority.com/solar-rebates-and-incentives/nevada
Solar Homes Sell for a Premium https://www.energy.gov/eere/solar/articles/solar-homes-sell-premium-0
Solar Power in Nevada https://www.solar-estimate.org/residential-solar/solar-panels/nevada?aff=4713&cam=45&gclid=Cj0KCQjw6NmHBhD2ARIsAI3hrM1dxGofDSTN3DoGjkUtNb2v2v77ghx6IVA-W3jlaADJEj454iHq01EaAv9IEALw_wcB