Your home may be your castle – but what that means for each person can be very different. Some people prefer light colors, some dark. Some want a location that lets them walk everywhere, while other people want to live far away from the hustle and bustle. However, there is one point that many homebuyers do agree upon: smart home technology. Adding smart home technology solutions doesn't just make your home more covetable – it can increase the demand for and value of your home when you sell it.
Smart Home Technology
Almost two-thirds of new homebuyers say that smart home technology makes home life better (and safer too), according to a survey from Better Homes and Garden. They see these new technologies as the “new norm” and that fact is reflected in their home-buying preferences. A recent Houzz survey found that 28 percent of homeowners would consider smart technology integration important in any home renovation, while some 35 percent of first-time buyers prioritize smart technology. Moreover, people of all ages are willing to pay more for properties that include smart home technology.
Adding smart home technology to your home can increase the interest and value of the property, especially amongst smartphone users. According to J.P. Endres, a realtor based in Westchester County, New York, homebuyers will pay as much as five percent more for certain high-tech amenities.
Here are four smart home additions worth getting to boost your home’s property value:
The first thing to put on your smart home technology list is a smart thermostat. Not only will it let you (or a new buyer) control the temperature from your smartphone but smart thermostats also learn from you. Over time, they can automatically adjust settings to reflect the way you live and when you are home. The features are convenient but they also help you save money on home heating and cooling costs.
Smart home lighting allows you to turn lights on or off, dim lights, or even put them on a schedule – all from your phone. Inc reports that adding smart home lighting and a connected thermostat could help you reduce your energy bills by half.
Adding smart locks can help you keep your home safer. You can program your door to unlock when you or a guest comes close using Bluetooth or Wi-Fi on your Samsung Galaxy S7. Not only is this much more secure than a fake key under a plastic rock, it is also more convenient. No more making sure your neighbor has a key to water your plants or that you remember to give your dog-walking friend the key. You can unlock your home from wherever you are.
Having a home security system is a major burglar deterrent and a huge incentive for homebuyers of all ages. According to Redfin, roughly 9 out of 10 people say that home security is the primary reason they would choose a home with smart technology. If your home doesn’t have a security system, you could be limiting your home’s demand and, by extension, its value.
Technology can have a profound effect on your daily life. Raise your property value and reduce your energy costs by adopting smart home technology in your home.