Buying a house with 17 years remaining on Solar City?
I live in Colorado and am looking at buying a house. The house is GREAT. The downside is that they have 17 years left on the SCTY lease. The rate they have started at $0.09 kwh. It raises 2.9% every year.
Colorado is a very sunny place, and they claim they've only actually paid their electricity bill one month. We currently live in an apartment building and our electricity is ~$40 a month. But this house has central AC and I assume it would probably be around double that.
I'm incredibly nervous about buying with this lease. The homeowners are arguing it adds value, but since they aren't owned solar panels I don't see how that's possible. And when I go to sell I'm worried buyers will feel the same way I do.
Two questions:
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Does the price seem good? $0.09 kwh from Solar City. My last electricity bill was $37 for 306.6 kwh
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Does this impact value as much as I think it does?
Thank you very much for your time.
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