Having an off-grid home used to reduce its value but now being off-grid can increase a property’s value says a national firm of valuers in the US.
The rising price of energy is the reason says Propell National Valuers chief executive officer Bart Mead
‘‘Some properties have had considerable amounts spent on ‘improvements’ that, if not attractive to others, may provide no added value,’’ he said.
He used the example of the use of alternative energy sources to power properties.
“While owners of ‘off-grid homes’ may have spent a lot of money installing alternative energy systems and value them highly, until recently potential buyers may not have valued the improvements as highly.”
He said it was an attitude that was slowly changing.
‘‘I watched an old movie recently where everyone in it was smoking, but now you hardly ever see smoking unless it’s a bad guy. Attitudes change,’’ he said.
He said four to five years ago overvaluing a property that was off-grid may have been a problem, but with soaring electricity prices and the increasing popularity of solar power it had already become “much less of an issue.”
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