[Topspinmo]

Originally Posted by kbrkr

Assumptions:

1. The system is leased.
2. Net Profit/Loss I estimate to be a loss; meaning I pay more for system than what I save on electric based on average cost per kwh.
3. Cost of all payments over 25 years is $56k
4. No Batteries; so won't have power fail backup
5. Lease is assumable to new homeowner.
6. We love the home they are attached to.
7. Seller has reduced asking price by $20k

Asking the Hive mind if we should just go ahead and purchase the home; which we really love.

Thank you!

No! Why would you want to assume that responsibility? Hundreds of homes for sale IMO I pick one with less hassle and iNO lease is a hassle.

[Battlebasset]

I would never consider a house with solar panels, unless it was well below similar market values. Even if they were paid off, there are concerns with roof intrusions/leaks, insurance company wanting to insure it, and how will it behave during high winds/hurricane.

Why take on all of those unknowns? If it was such a great idea, it wouldn't need tax incentives. That you aren't getting as the buyer.

[retiredguy123]

If a real estate agent is recommending the house, I would ask them if they have solar panels on their roof. If not, why not?

[Joecooool]

Originally Posted by BostonTom

I would never purchase home with solar not sure how Florida works but in other parts of the country usually when the solar is leased there is a lien on the house from the solar company.Also when you have to replace your roof, you can add an extra 15 thousand to remove those solar panels and replace them. There are so many homes available six in our courtyard villa neighborhood right outside of Brownwood available inventory is high location is so important.

I see posts like this and wonder how people dumb enough to lease a solar system could save enough money to buy a home here.

Then I remember time shares are still a thing too.

Do not buy this home. There is no telling what other stupid decisions this person made.

[Joecooool]

Originally Posted by kbrkr

Such great advice from all. I'm leaning towards walking away. The house had the roof replaced in 2019 and has a Golf Cart Garage and lots of other upgrades. I've asked the sellers if they would pay off the lease, but have not heard back as yet. I'm already under contract on my home, so I have to find something very shortly.

Just go buy a new one. They are overstocked and making deals.