Why Solar Power Can Help Increase Your Resale Value by Paul Young
April 10, 2017

Why Solar Power Can Help Increase Your Resale Value

Published by Paul Young

When you purchase Cayman Islands real estate, you are investing in real estate in one of the most exclusive real estate markets in the Caribbean. By giving careful consideration to the type and location of Cayman Islands properties for sale, you have an excellent opportunity to buy a home that will generate a terrific return on investment.

Beyond the type of residence you consider and the location of the property on Grand Cayman, you should consider the actual features available in the house that can help increase your resale value. Here are five top features that island buyers typically describe as most important to them when considering Cayman Islands real estate for sale:

  • Modern and well-appointed kitchens and bathrooms
  • Professionally landscaped and well maintained grounds
  • New, hurricane rated windows and roof
  • Wood or ceramic floors
  • Energy efficiency

When it comes to energy efficiency, buyers are increasingly asking Cayman Islands realtors such as ourselves to find them property with solar power. Utility costs are high in Cayman Islands, and savvy home owners are offsetting those costs by installing solar panels on their homes.

Solar Power - Image 1

There are two options to consider: a feed in tariff program, whereby the power that is generated is sold back to the local utilities company, and an off-grid option, where the home completely generates its own power.

Cayman Utilities Company (CUC) offers a CORE program. Read more about it here (https://www.cuc-cayman.com/customer-service/renewable-energy/). Home owners sell back the power generated by the solar panels on their rooftop to CUC and receive a credit on their account. This credit normally covers up to the cost of your power bill, representing significant savings each month.

With an off-grid option, home owners can power their homes entirely by solar using battery back up.

There are several good Cayman Islands solar companies that can help design and install a solar system for your home. We recommend Precision Solar. Learn about their services at www.precisionsolarcayman.com. They provide a complimentary assessment of your rooftop and can provide realistic estimates of how much money you should save on your power bill each month. If you are planning to buy a home, ask them to provide an assessment of the roof of the property in question prior to closing.

Solar Power - Image 2

Other energy efficiency options to consider include new windows, modern air conditioning systems and energy efficient appliances. For an energy audit of a potential property, consider Greentech. Learn more about their services at www.greentechcayman.com.

Prime Locations Cayman can help you identify properties that meet your goals for acquiring Cayman Islands real estate with excellent potential for a solid return on investment. When it’s time to buy property in Cayman Islands, contact Paul Young at Prime Locations Cayman for professional and comprehensive advice.