What to Know About Adding Solar Panels to Your Home
Are you considering adding solar panels to your home?
With solar panels on your roof, you will save on energy costs and reduce your carbon footprint, but can they increase the value of your home?
The question of does solar panels increase home value is something you’ll want to ask before investing in this home improvement. We will look at what factors affect the value when you have solar panels installed at your home.
Do Solar Panels Increase Home Value?
Many homeowners ask themselves if they should install solar panels on their homes. It could make sense if you plan on staying in the home for a while.
With solar panels fitted to your home, you can expect to make long-term savings on your electricity bills, boosting the value of your home at the same time.
Estimates suggest you could realize an increase of $20 for every dollar you make in savings thanks to your solar panels. So if your solar panels save you $1,000 a year, your home should be worth $20,000 more on average.
Solar power is more valued by buyers as well. A report from Zillow found 67% of buyers valued energy efficiency as extremely important when searching for homes. The Department of Energy also found buyers were willing to pay $15,000 more for a home using solar power.
Storage Unit Rental Guide
Storage units are a great way to store household goods between moves, when you don’t have enough space in your home or businesses that need storage for items that their place of business cannot handle. Storage units come in different sizes and as well some storage companies offer climate-controlled storage units that may be better depending on what needs to be stored. Knowing what storage unit options are available and understanding the requirements of the storage unit itself is important. This guide will help one to get a proper understanding of the different types of storage units available, the costs of such storage units and more.
Why Might You Want a Storage Unit?
Whether you live in a place that does not have enough room for storage of you moved for a job and now have to temporarily downsize your house renting a storage unit to store household goods until settled in a place that can hold everything may be the way to go. If you happen to be buying a new home and had to sell your home prior to being able to close on the new home then renting a storage space might be needed in order to store a majority of your belongings until you close on the new house.
Businesses who have seasonal tools or goods that need to be stored off site can also make use of storage units. By keeping items out of the current location space can be utilized for existing business needs. Businesses may be able to deduct any monthly fees too paid for their storage...
The data you see below is from the Cincinnati Multiple Listing Service (MLS). Average days on market refers to how long on average a property stays on the market before accepting an offer. The properties sold represents the number of multifamily properties that have been sold during the month being reported on. If there is other data you would like to see please feel free to share in the comments below.
While average days on the market ticked up for luxury homes in the Greater Cincinnati luxury home market the median selling price also moved up. Inventory increase a bit and the amount of homes sold also increased. Mortgages for luxury homes are priced differently compared to conventional mortgage so the rate will vary compared to the conventional rate.
Mortgage Applications Plunge - Applications by home buyers for mortgages dropped to a 28 year low indicating that many buyers have put their home buying goals on hold in light of high rates and high prices.
How Do Contingent and Pending Statuses Differ in Real Estate?
While looking for your next home online is easier than ever, some things can be confusing. Though a listing marked as “active” is fairly self-explanatory, other terms can be less precise.
The difference between pending and contingent in listings might not be that apparent. If you find a home in the listings, but it is either contingent or pending, what does that mean, and do you still have a chance to buy it?
Contingent vs. Pending
The main difference between pending and contingent is that with a pending listing, the terms and the contract have been completed. But with a contingent listing, some of the stages in the buying process still have to be met. Not all Multiple Listing Systems (MLS) use both pending and contingent. The Northern Kentucky MLS and Greater Cincinnati MLS do not use the Contingent status but do use Pending.
Let's look at these in more detail:
Property under contract with a buyer will be listed as pending. Showing another buyer got there ahead of you to sign a contract with the seller.
Usually, the pending status means the contract terms have been completed, and the sale is pending. So, real estate agents will make ...