Introduction
Backup generators are designed to deliver a reliable supply of energy during power outages or scheduled or unplanned downtime. We are increasingly reliant on power to run our homes and businesses, but natural disasters have become more frequent. In recent years, power outages have become more common in the US due to severe and extreme weather and changes in climatic conditions. A recent report by Climate Central suggests that severe storm outages have increased by 74% in the last decade (source).
Buying a backup generator offers multiple benefits. In addition to ensuring a continuous, reliable power supply, you can also add value to your home. In this guide, we’ll discuss how backup generators affect house prices and saleability.
What is the Average Cost to Install a Generac Home Generator?
If you’re a homeowner, it’s beneficial to think about the effects of adapting, modernizing, upgrading or renovating your home on property value. When you sell, you want to achieve the best possible price. There are many ways to boost the value of your home, including buying a backup generator.
Reasons why backup generators increase home value include:
1. Delivering continuous power
The main benefit of backup generators for homeowners is accessing a continuous supply of power. If there’s a power outage, you don’t have to worry about how you’re going to heat your home, run appliances or manage work-related tasks. You can simply access energy via your generator until your mains supply is reconnected.
As power outages are unpredictable, it’s hugely beneficial to have backup plans in place at all times. If you don’t have mains power, you can use your generator to minimize disruption, enhance safety, and keep your home running as normal.
For prospective buyers, having a backup generator in their new home is a significant bonus. As a valuable asset, you may find that buyers will be willing to pay more for your home. Not only can new occupants benefit from a reliable power supply, but they don’t have to pay to install a generator themselves.
2. Providing peace of mind
Most of us go about our daily business without thinking about how we use technology. It has become part of our modern-day lives. It’s not until there’s an outage or an unexpected period of downtime that we realize just how dependent on energy supplies, communication networks and systems, and electrical and mobile appliances and devices we are. Backup generators provide peace of mind. Once you have a generator at home, you don’t have to worry about the impact of power outages.
If you sell your home, you’re offering buyers the chance to enjoy peace of mind too.
3. Future-proofing your home
Studies show that power outages have become more frequent in recent years due to unpredictable and extreme weather conditions. By buying a backup generator for your home now, you can future-proof your property, reducing the risk of being without power in the future.
As power outages become more frequent, the demand for houses with backup generators is likely to increase, which will push prices up, particularly in areas that are prone to storms and severe weather events.
An online survey conducted by Goal Zero revealed that 84% of Americans worry about power outages and 61% wish they had a generator at home (source). According to Fortune Business Insights, the value of generator sales in the US will increase from $6.10 billion in 2023 to $10.26 billion in 2032.
4. Making your home stand out
Making your home stand out is one of the main challenges for sellers, especially in neighborhoods where there are lots of houses for sale. As a vendor, you want your home to be more appealing and memorable than others. Having a backup generator can set your property apart, encouraging buyers to position it at the top of their shortlist.
5. Increasing saleability
It’s not always easy to sell a house. Sometimes, it can take weeks, months or even years to find a buyer who wants to go the distance and exchange contracts. If you’re putting your home up for sale, it’s wise to think about saleability.
Boosting saleability is all about making the house more attractive and enticing to buyers. Adding curb appeal, smartening up the interiors, staging your home, and renovating the kitchen are great examples of how to do this, but buying a generator can also help. It’s particularly beneficial to have a generator if you live in an area susceptible to extreme weather.
How much Value can I add to my Home with a Backup Generator?
The amount of value you can add to your home with a backup generator varies, according to the generator you buy, where you live, and the state of the local and national housing markets. Typically, research indicates that buying a backup generator for your home can boost its value by up to 5% (source).
How Much does it Cost to Install a Backup Generator?
The cost of installing a backup generator varies, according to these factors:
- The size of the generator
- The make and model of the generator
- Installation costs (prices vary according to the complexity and scale of the job and the company you choose)
The best way to find out how much it will cost to fit a backup generator in your home is to contact reputable, top-rated local installation experts. Click here to get a quote from Wells Electric Service.
Thinking about Installing a Backup Generator for your Home? Contact Wells Electric Service today!
Gaining access to a continuous, reliable power supply is the most common reason why homeowners install backup generators, but having a generator at home can also boost property value. Studies show that backup generators can add up to 5%. As power outages become more frequent, investing in a backup generator may also help you enhance the saleability of your home, as properties with generators become more sought-after.
If you’d like more information about backup generators, or you want a quote for a generator for your home, contact the friendly experienced team at Wells Electric Service today. We can provide information and estimates to suit your requirements, preferences, and budget.
