Own your own home? Chances are, you’re sitting on a gold mine right now. Home prices around the nation are rising, and with it, home equity.
Home equity can be used for a number of things, including debt consolidation, remodeling your home, taking that dream vacation or going back to school.
However, for an investment that will pay you back right away, consider using your new home equity to purchase solar panels.
Solar panels pay back your investment in two ways:
- According to Forbes.com, they are proven to increase your home’s value.
- They lower or zero-out your electric bill.
Who doesn’t want to reduce both their monthly obligations and increase their home value?
According to a study Berkeley Lab performed between 2012 and 2013, home buyers are willing to spend an average of $15,000 more when a home has solar panels already installed. Combined with the monthly savings you’ll receive instantly on your power bill, the value of your new solar system more than pays for itself.
You may be wondering though, will you really save money every month when you have to take on a new loan payment?
The answer is still yes! According to energyinformative.org, homeowners save more in electricity bills compared to their loan payments already from the start.
Lastly, another benefit that is often over looked is that the interest on your home equity loan is usually tax deductible!
Contact us today to get started. (916) 853-2700