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.”
5 Responses
VICKI – Our home is located west central New Mexico, 60 miles from the Arizona border (south of I 40). We bought the best solar/wind system we could at the time from Northern AZ Wind & Sun in Flagstaff and proceded per their professional advice. We have 6 PV panels of 175 watts each, and 500 watt wind. There’s a true-sine wave Outback 2500 watt inverter, 16 6 volt golf cart batteries set up in two banks of 48 volts. Not a huge system, but this has been sustaining us very well for five years without a problem. Solar-friendly appliances including Vest Frost ConServ fridge/freezer. Greenhouse (homemade) for passive solar heating helps considerably.
Our research completely agrees with you OffGridTod. I found MyEnergyLoan.com has been attempting to create a national and universal bank appraisal form for the US. Would Girldawg1 mind sharing what area of the U.S. she lives in? My husband and I have a design-build firm in northern Nevada, US, specializing in innovative building and energy efficient materials. We really enjoy this website. You’ve helped to motivate us to go off-grid this next summer, but we are concerned about long term value. It appears that National Valuers, Bart Mead is in Australia. Thank you.
Unfortunately, the reality in normal grid tie areas is that off-grid is much less valuable. Maybe in remote areas where the expectation is off-grid or nothing then a good system adds value. We need a new set of terminology to describe quality high performance off-grid systems vs. low budget crap thrown together cheap.
We’ve had our off-grid home for sale nine months and find that most people aren’t interested in solar. I have read articles like this before, that off-grid can increase value or attract buyers. I wonder where this “national firm of valuers in US” derives its information. We are not grossly overpriced. The only inquiries we have had want to know “is there electric hookup?” (there is), or other questions that give the immediate impression they aren’t interested in solar/wind/passive solar or any off-grid lifestyle. Most don’t know a thing about it, or appear to care, unfortunately. Those unconventional spirited folks with down to earth practicality that want to live outside the mainstream of life are indeed rare. I guess we’re just old hippies, but we were hoping to find others who would appreciate what we’ve accomplished here and want to live this type of life. Perhaps the attitudes are slow changing as the article states; however, in our experience most want the so-called “comforts” the grid has to offer. They don’t seem to be willing to make any changes and certainly can’t do without. In the meantime, I don’t believe we’ll see a greater move toward off-grid life in the near future – at least not in the US.
Off-grid properties especially those in remote locations are very desirable in this province. Ever since they passed a law compelling the power company to report excesive power consumption; the grow op people have been buying up off-grid properties since this doesn’t attract attention of the authorities. They have a legitimate reason to run generators and no one can accurately determine size just from exhaust noise.