Are you thinking of purchasing a new home with solar panels? If you’ve never owned a property with this feature before, you might unaware of the benefits - and the potential issues. One solar panel system might save you hundreds of dollars on bills, while another could cost you a fortune to run. Keep reading to find out more about the pros and cons of buying a home with solar panels.

1. Save Money on Bills

Depending on the size of the solar system at the property you’re planning to purchase, you could save a significant chunk of money on your energy bills each month. It’s smart to get all the details about the size of the system, how much electricity it typically generates, and what kind of saving the existing owners have noticed. Smaller systems might not make a huge difference, so do your sums before coming to any conclusions.

2. Reduce Your Environmental Impact

If you care about saving the planet, owning a home with solar panels is a great move. You’ll be generating your own sustainable energy, reducing your reliance on fossil fuels and methods which harm the environment. Unlike other methods of reducing your impact, solar panels require very little effort - once they’re installed, you’ll keep reaping the benefits without needing to change your lifestyle. Your solar panels can also be a great conversation starter, allowing you to discuss environmental issues with others.

3. Potentially Expensive Solar System Maintenance

Solar panels will require maintenance over the years, and the cost of this might make any savings seem negligible, especially if you don’t plan to stay in the property for long. Getting details on how old the solar panels are, who they were installed by, and whether there are any current maintenance issues should give you a good idea of how much you might need to spend. Systems installed fairly recently by trustworthy providers are less likely to have issues.

4. Solar Panels May Be Leased for a Third Party

Not all solar panels are owned outright by the owners of the property. In some cases, they’re leased by a third-party, which can cause headaches when you come to buy. Many leases last up to 20 years, with monthly payments or expensive options for buying out the system. If the home you’re considering has leased solar panels, you’ll want to see all the details of the contract before you decide to buy.

Buying a home with solar panels can be a great way to save money and reduce your impact on the environment. However, solar panels often come with some expensive issues, so be sure to do your research before you buy. In most cases, you’ll want to steer clear of older systems, or those on an expensive lease.