The pandemic lull put real estate developers in a defensive mode, with the demand and prices dropping consistently.
But recovery was quick in the new normal, and the industry is back on its feet. In fact, it is more competitive than ever, with buyers making a beeline for new projects.
Land developers need to give their best to capitalize on the boom, but everything boils down to setting your projects apart.
4 Reasons Going Solar Make Sense For Land Development Companies
Going solar is an excellent decision as it does more than make your brand sustainable. Here are some reasons it makes sense for land development companies.
1. Consistent growth in demand for green properties
Green properties are in high demand, and the growth is consistent. Buyers and investors prefer them because they are energy-efficient and fetch a higher resale value down the line.
Not surprisingly, solar projects sell fast because people are willing to pay more and grab the deals before they are gone.
Land developers should happily spend more on installing solar panels for their projects because the paybacks are good enough. You can sell them quickly and make high profits, despite the competition in the real estate market.
2. Contribution to the environment
With sustainability becoming a winning factor for businesses, contributing to the environment is on corporate wishlists. Going solar with your land development projects is an effective measure to do your bit.
Although it is a one-time investment for the builder, the returns come for a lifetime. Solar homes have a minimal carbon footprint because they rely on renewable energy to run their lighting, heating, and cooling systems.
Consider it like sowing a seed that delivers environmental benefits for the years to come.
3. Tax-saving advantage
Although solar installations may add to the construction costs, you may actually save at the end of the day. Of course, the project fetches better profit margins, but you can make hefty tax savings down the line.
The picture looks bright with Solar ITC Extension, which is the government’s way to incentivize business owners that go the extra mile with sustainability. Your profit margins become bigger with the tax bills going down.
Moreover, your business comes in the good books of the authorities.
4. Get a reputational edge
A reputational edge is a key to surviving and thriving in a competitive landscape like real estate development. Think beyond designing projects with great aesthetics and functional features because your competitors probably have similar offerings.
You cannot gain much on the price front because real estate pricing is mainly location-dependent.
But adding the solar feature to your projects is a surefire way to get clients on your side and build your reputation as a land developer. You have better chances of getting repeat business and referrals from existing clients with this measure.
Nothing is better than a sustainable approach when it comes to setting your land development business apart.
Although you may have to spend more on these projects, the returns are attractive enough to make the investment worthwhile. So you should not have second thoughts about going solar.
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