ENERGY
Smee also cites the importance of justifying the significant initial financial investment by considering the value it will add to your home in the longterm .
According to South African home loan experts , ooba Home Loans , solar panels can increase the value of a property by around 3 to 4 %. “ Taking into account the current electricity crisis in South Africa and with no long-term solution in sight , I believe that this estimate is actually rather conservative ,” says Smee .
Ability to sell the buyer long-term peace of mind
Most of the country is still experiencing a Buyer ’ s Market , meaning that many well-priced and well-designed homes are sitting on the market for far longer than they usually would , due to an oversupply of homes .
“ Solar power is definitely a Unique Selling Point ( USP ) and a way for sellers to distinguish themselves from the competition ,” Smee comments . “ Thus , I would encourage homeowners to make the transition now while they can afford it , as it can be a lifeline should they become financially distressed in the future and need to make a quick sale .”
By investing in solar power , owners are also able to market the ‘ peace of mind ’ that their property will offer prospective buyers , both in the short and long-term . “ The buyer has the assurance that they will be able to work from home and perform daily household tasks such as cooking without interruption .” Another positive selling point is the prospect of lower electricity bills and resilience against
68 FEB 2023 SA Real Estate Investor Magazine