As extreme weather conditions become more common, many homeowners are considering the installation of a standby generator. These generators are a reliable source of backup power and can keep the lights on during power outages. However, many homeowners wonder if installing a standby generator increases home value?
What is a Standby Generator?
In case you’re not familiar with standby generators, they are a type of generator that’s designed to start automatically when the power goes out. Once the electricity is restored, the generator turns itself off. Standby generators are more expensive than standard portable models, but they are also more powerful and convenient. They run on natural gas or propane, and they can power the entire home or select circuits, depending on the model installed.
Does Installing a Standby Generator Increase Home Value?
Standby generators are an excellent investment, but do they increase the value of a home? The answer is yes, and here is why.
1. Increases Home Functionality and Appeal
A home equipped with a standby generator is more appealing than one without. This is because potential buyers are always on the lookout for homes that function properly, even during a power outage. With a standby generator, the home becomes more functional and convenient, making it a way better catch for potential buyers.
2. It is a Unique Selling Point
Whether you’re planning to sell or not, having a standby generator installed in your home is an exceptional selling point. Standby generators are not a standard feature in most homes; therefore, it makes a home unique and more valuable. With this valuable feature, you can command a higher asking price compared to homes without a standby generator.
3. Lower Insurance Rates
Insurance companies value homes with standby generators since they reduce dependence on the grid during power outages. This means homeowners are less likely to file insurance claims for damage or loss of valuables caused by power outages. By installing a standby generator, homeowners can enjoy lower insurance premiums.
4. Added Security
In some cases, power outages can lead to increased crime rates. With a standby generator, a home’s security measures remain operational even when there’s an electrical outage. This added security is a plus for any homeowner, and it can increase a property’s value.
Conclusion
At this point, there is no doubt that a standby generator can increase the value of your home, making it a worthy investment. Besides increasing your home’s functionality, aesthetic appeal and security, it also attracts more potential buyers looking for a high-value property. It’s a win-win situation, whether you’re looking to sell or not.
With that said, you should ensure that the standby generator is professionally installed and regularly maintained for maximum performance. By doing so, you can ensure that it lasts for years and offers the best return on your investment.
Related article: Is It OK To Run A Generator All Day?
FAQs for Does Installing A Standby Generator Increase Home Value?
1. What is a standby generator and how does it work?
A standby generator is a device that provides electricity to your home in the event of a power outage. It works by automatically detecting a power outage and switching on within seconds to provide power to your home via a transfer switch.
2. Will installing a standby generator increase my home value?
Yes, installing a standby generator can increase your home value. It’s a unique and attractive feature that can make your home more desirable to buyers, especially in areas with frequent power outages or severe weather conditions.
3. Does the size and type of standby generator I install affect its impact on home value?
Yes, the size and type of standby generator you install can affect its impact on home value. A larger generator may provide more power and be more attractive to potential buyers, while a quieter or more energy-efficient model may also increase its value.
4. Are there any other benefits to installing a standby generator besides increasing home value?
Yes, there are many benefits to installing a standby generator besides increasing home value. It can provide peace of mind and convenience during power outages, protect your electronics and appliances from damage, and even potentially lower your homeowner’s insurance premiums.