Published on April 15th, 2020
Over the last few decades, the real estate market in Singapore has changed tremendously. Real sales metrics have remained positive over long periods as more people look for new homes.
For instance, private home sales in the country jumped 57.3 percent at the beginning of 2020.
However, the needs of homebuyers have changed with time, and energy efficiency has become among the top considerations in new home purchases.
Top among the energy-efficient features are solar panels that provide clean and cheaper energy. If you are a real estate investor in the country, it’s imperative to stay abreast of new trends on the market.
Recent research done by Zillow, a world-renowned online real estate database company, reveals that homes with photovoltaic systems sell for 4.1% more on average compared to homes without solar panels.
Whether you want to list your private home for sale or you have multiple homes to sell, it’s crucial to understand how solar panels can boost your property listing.
This post explores the impact of solar power systems on home sales in Singapore.
Growing Popularity Of Solar Energy
The issue of clean energy is now prominent across global forums. With the impact of environmental degradation now obvious, there are urgent calls to act and save planet earth.
From hurricanes, increased rainfall, landslides to increased population, environmental conservationists continue highlighting the dangers of the status quo in energy consumption.
This has led to more focus on clean energy with solar power, receiving a lot of attention.
The government in Singapore has committed to providing enough power for 350,000 homes by 2030.
This would represent 4% of the total national electricity demand today. Such programs are replicated across the globe.
Why A Solar Power System Can Boost A Home Sale
If you are a real estate investor, you need to look at different ways of improving your property’s value. One way of doing this is to harness solar energy.
Here are different ways that solar panels can boost your home and increase the chances of resale:
1. Attracting New Home Buyers
For many years, homebuyers looked at the usual factors, including size, location, aesthetics, and others. However, the new homebuyer is now more conscious and will go beyond these common factors.
These homebuyers want to leverage solar energy by installing solar air conditioners, solar-powered lighting and other energy-efficient systems. If you already have a solar powered air conditioner, you’ll make your property even more attractive to buyers.
These homebuyers want to automate their homes and for this, they need a reliable and cheaper source of power. Installing solar panels will thus boost your home and make it more attractive to a new segment of homebuyers.
2. Reducing Carbon Footprint
Green living is no longer a buzzword but a reality in modern society. The real estate industry has come under huge pressure to adopt sustainable technology.
If you want to invest in real estate, you should consider installing solar panels in your new home.
Solar panels provide you with clean energy which you can tap for your solar air conditioner and other power needs in your home.
Everyone in contemporary society must conserve the environment by reducing their carbon footprint.
You can boost your property sales by installing solar-powered systems from solar air conditioning to lighting and others.
3. Target Homeowners With Electric Vehicles
More people are buying electric cars in the country and one of the major challenges they face is the availability of public charging spots.
Homeowners have a significant advantage because they can install private charging ports at home. However, this still leaves one major headache in terms of high power consumption.
This is where solar panels come in handy. Solar panels can offset the higher energy demand for electric car charging. If you want to prep your home for a sale, installing solar panels should thus be a major consideration.
4. List A “Move-In-Ready” House
Most homebuyers want to find a property that is ready for occupation. They don’t have money to start making renovations and installing expensive systems.
This is why you should consider installing solar-powered systems to boost your home sale.
You can work with a certified solar air conditioner Singapore installer for professional services. This boosts the value of your home and makes it more appealing to buyers.
5. Get Higher ROI
When investing in real estate, you expect great returns when you sell or lease your property. For instance, installing a solar hybrid air conditioner is costly but it turns out to be an excellent investment when you sell.
More homebuyers want to get the best of both worlds by using power from the grid and also harnessing cheaper and cleaner solar power.
If you are a real estate investor in the country, you have to prep your properties for the forward-looking buyers. Installing solar-powered systems not only helps you sell your home faster but also gives you better ROI.
Solar-powered systems might be expensive to install but they pay dividends in the long run when you sell. What’s more, you will have done your part in saving planet earth.