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Higher home appraisal
A generator can increase the value of your home anywhere up to 5 percent. And even if your home's appraised value doesn’t go up, it’s an upgrade that you can invest in for your usage and convenience.
The simple answer: Yes.
Severe weather events increase in frequency and intensity each year, causing more unexpected power outages. This is why a generator is becoming a desirable home feature for both buyers and sellers. Homeowners are recognizing the importance of having a reliable backup power source, not just for their convenience, but also for their safety and peace of mind.
How Generators Can Boost the Value of Your Property
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Increased buyer appeal
And when it comes time for you to sell, generators are modern features that many buyers nowadays have added to their ‘must-haves’ list when shopping for their new home.
Homes equipped with generators become highly sought after, providing a significant edge in the market, especially in areas commonly hit by natural disasters or remote areas with overhead power lines instead of underground lines.
The real worth also becomes apparent when you find a buyer who needs or wants one of these features. Buyers who have experienced prolonged power outages are much more likely to prioritize homes with a generator, viewing it as a necessity rather than a luxury. Many buyers also prefer not to incur the expense or hassle of installing a generator themselves. This is why generator-equipped homes are significantly more appealing, even if it doesn't directly translate to a higher appraised value.
The Practical Benefits of a Home Generator
There are several types of generators, so the average cost varies depending on the type and brand. Rest assured that there's a good solution depending on your price range and needs. From portable generators to standby generators, all typically fall in the range of a few hundred dollars to a few thousand.
Aside from keeping the lights on during emergencies and outages, the many practical benefits of having a generator cannot be overlooked. Here are some of them:
- Powers up essential appliances and systems - You can ensure that your home’s security systems remain operational for your family’s safety. If your home also relies on electricity to power your water source, a generator ensures a steady flow.
- Prevents damage to your property - Outages during extreme heat or cold could be dangerous. Especially in extreme cold, maintaining a steady temperature is crucial to keeping your pipes from bursting and damaging your property.
- Keeps you comfortable - If you’re working from home or have babies/toddlers, having a generator allows you to be comfortable and continue your daily activities without disruption.
Bottom Line
If you're looking for a way to increase your home’s value and marketability, a generator is certainly a coveted upgrade. Similar to a pool, you might not be able to recoup the full cost of its installation when it comes time to sell. However, the convenience and peace of mind it brings to you and your property are crucial, making it more appealing to potential buyers.
