Will a Generator Increase My Home Value?
As a local homeowner in Maryland, you know quite well that the value of a home standby generator cannot be easily measured. They’re absolutely invaluable for keeping your family safe and home in proper order, even during the most damaging of storms. That said, they’re a fairly noteworthy investment to make, and that tends to raise a very good question: does a standby generator increase your home’s value? Can you expect to recoup any of the investment cost when it comes time to sell?
Find out answers to the above and even more by following along with the professional electricians at GAC Services!
Does a Standby Generator Boost Home Value?
In a word, yes. In two, of course! Installing a home generator adds a tangible feature to your home, and even bigger, it provides one that has a very practical and safety-minded function. Home electrical damage, storm damage, and property loss due to power outages cost homeowners literally billions of dollars a year nationwide, and so offering a method of preventing this is definitely a great incentive for a new buyer.
What’s My Return on Investment?
Sources on this topic tend to be very conflicting if you take some time to check it out on your own online. However, with a bit more industry knowledge you can generally suss out that the average return of investment on a home standby generator stands at roughly 65-70% ROI. The exact ROI is hard to nail down because the location is very important—as in, does the area get a lot of storms and experience a lot of outages. Here in Maryland, we sure do, and so you can expect a solid ROI exceeding 65%.
Are Generators Highly Sought After?
It’s not one of the very first things a prospective buyer is going to ask, for sure. For example, they might want to know how recently your HVAC equipment was installed, or the general state of your roof and foundation. However it is a very attractive feature, and one a realtor will be glad to put on your roster of advantages and attractive sellable points!
Are Standby Generators the Right Choice?
The takeaway here is that a standby generator does add home value, and a substantial home value as well. However, it’s not something you’re going to add specifically to sell your home. You would want to focus on the basics first, then you could consider a generator for added appeal perhaps. There are, however, better, higher ROI electrical upgrades you can do in your home if you’re looking to make a sale.
The true advantages of a generator are found in their ability to protect your home and family from harm, to keep your lights on, and to avoid discomfort during extended outages. This alone makes the initial purchase worthwhile, which makes the added value an installation can put into your home the icing on the electrical safety cake.
Standby & Whole-Home Generator Installation in Maryland
Interested in learning more about the many advantages of a standby generator for your home in Montgomery, Howard, or Frederick County, MD? Contact the electricians at GAC Services online today! We can set you up with an ideal generator that will serve your home well for years to come—and one that will serve you one last time when you’re looking to sell your home!