Underground Storage tanks: In dry areas where the availability of water is a problem, the underground water cisterns have been in use from time immemorial. In the past, these big tanks constructed below the surface of the ground have acted as an important source of harvesting rain water so as to avail a systematic supply to the domestic, agricultural and animal requirements. Today, water is a very valuable product and the availability of an underground cistern on a piece of property can add or subtract great value from the overall appraisal of the property, especially if it is situated in a region that is scarce of water.
This article explores how underground cisterns contribute to property appraisals, highlighting the unique advantages they offer in arid regions.
1. Water Security and Its Influence on Property Value
Another fairly evident influence of an underground cistern to property appraisal is the provision of water resilience. Water is a very important resource in many areas and especially in areas that experience limited rainfall, having adequate water supply can be a major boost to the property. Houses or farming areas with cisterns are considered more sustainable and less dependent on outside supply water source like the municipal water supply or on very costly water trucking.
The problem of water shortage has made buyers attribute more importance to homes that are equipped with water-saving technologies; a cistern is looked at as a profitable addition at a relatively low cost. This is well understood by the appraisers in issuing the prices for a particular property particularly the areas that face challenges in water rationing. Sometimes, the existence of the functional cistern can increase the price on properties by 10-15% because it makes a significant cut of costs, as it eliminates the need of water supply.
2. Sustainability and Environmental Appeal
There has been a shift towards sustainability needs in the real estate market especially tough areas such as the ones that are hit by droughts. Homes with green features like under ground cisterns are favored by buyers who are sensitive to the environment and look forward to having structures which reflect their sensitivity. A cistern enables homeowners to harvest rain water, and thus the need to pump groundwater or get water from the city, which is very important especially in regions where water rationing is common.
Furthermore, having stored rain collection to be used for landscaping, irrigation, and even household purposes increases the vulnerability threshold of a property for the impacts of climate change such as increase in droughts and reduced natural water sources. From an appraisal perspective, if for instance a building or piece of land is eco-friendly and already intricately developed to support water conservation, then it will at least retain its value, if not over time correct its value. Cisterns not only increase the property’s ecological value but also bring utility savings in the long run adding to the desire value.
3. Cistern Size, Condition, and Construction Quality
As to the above discussed factors more or less impact can be made on the appraisal of property due to the size, condition and quality of the construction of an underground cistern. Big cisterns that can contain more water, can add more value to a property especially in big families or if the property to be developed is meant for farming purposes. However, if a cistern is old, rusted or not well maintained it will reduce the value of property since repairs or replacement will be expensive.
While there are many make of cisterns available in the market, appraisers seem to prefer cisterns made of concrete or fiberglass rather than plastic. Fancy properties with well built cisterns are considered more expensive because such cisterns do not need regular maintenance than a simple cistern. In addition, cisterns that are part of the construction of the property particularly those which are linked to an irrigation system or gray water recycling system are considered to be more precious than isolated cisterns which are not in use.
4. Impact on Agricultural Land Appraisals
The cisterns affect not only dwelling houses, but also have overall influence on the appraisal value of the agricultural land. To respond to these challenges, farming experts have come with recommendations that would help farmers when it comes to water storage ad usage in the regions where water is a scarce resource. Homes provided with the large jars facilitate in the times of drought to preserve crops, feed, and care for livestock as well as manage the land. This makes such properties more market competitive and thus more desirable by potential customers.
About cisterns, it will be important for appraisers to consider it as a rather useful feature while assessing the farmland situated in regions witnessing low rainfall. The implication is that a farm that is well equipped with a functional irrigation water storage system will produce more yields and this makes the farm more attractive to potential buyers and or investors. Hence, using cisterns in farms helps the latter be appraised at relatively higher values, since it indicates better usage of water and, consequently, higher productivity in the future.
5. Government Incentives and Appraisal Considerations
In some parts of the world, local authorities or environmental non-governmental organizations encourage water harvesting structures including cisterns through the provision of incentives. These incentives maybe in form of tax exemptions, subsidies for installment, or even low utility tariff. Such incentives are only applicable to properties that are perceived to have such qualities and therefore, the appraisal value of properties receiving such incentives is enhanced.
Where such incentives are available, appraisers have to determine the eligibility of the property as they arrive at its market value. At other times these financial advantages can create a lot of long term value, meaning properties with cisterns are more valuable to buyers. Besides, if there are laws or regulations governing its usage, existence of a cistern that will enable one to adhere to those laws will be defensive or even value adding for the region.
Conclusion
Underground cisterns make significant contribution to property re-evaluations especially in areas with water scarcity. Advantages of cisterns include the ability to provide water security, encourage sustainability and enhance agricultural yields, which are all achievable via making sound financial securities. In the real estate, well maintained, efficiently constructed cistern systems and cisterns have a value addition effect on the residential and agricultural units. With global tendency in water scarcity it is expected that the value of underground cisterns in the appraisal process will increase in the future especially in parts of the world where water supply is still a significant element that affects both seller and buyer.
