No doubt, the standby generator serves as one of the most essential equipments that you install in your home.
The role of this kind of equipment is much more than just offering you the peace of mind in case of a power breakout.
In fact, the installation of a whole house generator can increase the overall value of your home.
A whole house generator is likely to offer more comfort to the inhabitants, this in turns increases the value of a home.
How much Return you can Expect
The installation of a generator isn’t a DIY project.
This suggests that you need to hire a certified technician for the task. For instance, you need the help of a plumber and electrician for running the connections.
Talking about the overall return on investment associated with the installation of a whole house generator, there isn’t a fixed ratio.
This is so, as most of the sources suggesting an increase in the value aren’t that authentic.
Nevertheless, if you have some knowledge about the real estate industry and the overall cost of generator installation, you can make a guess.
On average, the ROI on a home standby generator may fluctuate between 65-70%. However, it is hard to nail down the exact ROI.
This is so, as it depends a lot on the location of your home and some other essential factors.
For instance, there are certain areas that receive a lot of storms and the inhabitants face sever outages.
If your house is located in an area installing a generator would definitely affect the overall value of the house.
Factors Affecting the ROI
Below are the two major factors, which can affect the overall return on the investment you have made while installing a generator.
- Location of your home
- Instances of power outages in your area
If you are living in an area where storms hit quite often and cause a power outage, installing a generator is great and valuable home improvement.
In this situation, the buyers can offer you some additional amount for the house. No doubt, the peace of mind associated with a standby generator is worthy of paying more for a house.
On the contrary, if you don’t experience regular power outages, the installation of a generator won’t make any difference. This suggests that you can’t expect a reasonable return on such an investment.
Conclusion
To conclude, one can state that a whole house generator is a valuable investment. As a result, it can increase the overall cost of your property.
The reason being is the cost of installing a standby generator. It involves hiring certified electricians and plumbers, which enhances the overall cost of installation.
This suggests that not everyone can afford to install a whole house generator at his/her house. As a result, you can expect a good return after making such an investment.
As a whole, if the circumstances are favorable, you can expect an ROI between 56 and 84%. This kind of investment will increase the value of your home and chances are there that you will make a significant profit.