Does a Standby Generator Increase Home Value?April 01, 2021
2021 has been a wild year for real estate. It has been a total seller’s market, allowing sellers to put their house on the market for far more than what they bought it for. With that being said, you want to do whatever you can to get the most value for your property. So you may be asking yourself, “will a standby generator increase the value of my home?” and the short answer is yes.
What does a generator do?
The main purpose of a home generator is to keep the power on in your home whenever it is knocked out by the outside elements. Things that cause your home to lose power are
- Blown transformers
- Lightning storms
- Rolling power outages
Generators were originally created in the 1800’s to supply electricity to commercial installations. While the home owner may not have been the original person in mind when the generator was created, it has become a highly sought after product to keep the power running in case of an emergency.
Whenever the power goes out in your home, that means potentially losing hundreds of dollars worth of groceries, having to freeze during the winter, and being sweltering hot during the summer. If you have medical equipment that is powered by electricity, then a power outage could be potentially life threatening.
Whenever you have a standby generator, it automatically switches on at the first sign of a power outage. As soon as the power is back on at your home, the generator will turn off on its own. This seamless process is what makes them so ideal for families, especially those who have children or elderly people living under the roof.
A generator can work no matter what area your home is in. So if you live in the city or out in the woods, far from others, your standby generator will work to power your home.
Does a generator increase my home’s value?
Many people find the cost of a standby generator to be off putting, however, the benefit and the money that it can save down the road are worth the initial cost. Whenever you purchase a standby generator, it will stay with the house whether you live there or not. A licensed professional will come out to your home and install the generator on a pad of concrete outside of your home. It takes many different licenses and permits to ensure that the generator is installed correctly.
According to consumer reports from Remodeling Magazine, a home’s value will increase by 3% to 5% whenever a standby generator is installed. You can also get up to 150% return on investment whenever you sell your home with a standby generator. That would definitely outweigh the costs of purchasing a standby generator.
If you are not sure if you want to invest in a standby generator, we recommend that you call a licensed professional and have them assess what size generator would be right for your home and what they think your return on investment would be if you choose to sell your home down the road.
It never hurts to invest in the safety and comfort of your family, especially whenever it could be something that pays for itself down the road.
Give us a call today at 501-315-7213 to discuss which generator would be best for you.