19 Jul Smarter Home Equals Higher Value
By Lisa Montgomery/Rob Capello. July 14 2016. For electronichouse.com
Smart home products can make your home more attractive to homebuyers.
Since the dawn of time, home realtors have been chanting about the importance of “location, location, location.” But when it comes to buying and selling your home, a number of other factors are also super important – house size, age, history, layout, renovations, and even smart home technology.
The fact is smart devices can have a significant impact on the value of your home – and how much interest it can generate from potential buyers.
The Future Is Now, and It’s Super Smart
As reported by CNET, both millennials (47% of whom own smart home products) and parents with kids under 18 still living at home (42%) buy smart home devices at much higher rates than the average person. And that demographic spread suggests that ubiquitous smart home adoption may arrive at breakneck pace. Here’s why.
In our information-centric age, we’re growing evermore expectant of having data tied into every aspect of our lives and society. As such, we’ve collectively developed “The Internet of Things” (IoT) a network of physical devices, appliances, vehicles, buildings, and more – each one embedded with electronics, software, sensors, and network connectivity – that enables these objects to collect and exchange data. Experts even estimate that the IoT will continually expand to consist of almost 50 billion smart products by 2020.
Be Smart and Benefit – Increase the Resale Value of Your Home
According to a joint survey just conducted in 2015 by CNET and Coldwell Banker, nearly half of all consumers who have installed smart products in their homes – such as a Nest thermostat, an smart lock, or a Lutron lighting kit – averaged a savings of over $1,100 a year on their energy bills. But here’s the coolest part: These smart devices can actually make you money in the future.
When it comes to reselling your home, smart home products are increasingly becoming the norm. Realtors are noticing that younger homebuyers are even expecting smart technology in any houses they consider buying these days. As such, smart thermostats, lighting, door locks, security systems, and other smart products are projected to rapidly rise in popularity to meet the current and forthcoming demand.
In fact, in that same study, 81% of current smart home device owners said they would be more willing to buy a home with connected tech already in place. And 66% said they would leave their smart-home products behind if they thought their house would sell faster as a result.
Don’t let your home be left in the dust when it comes time to sell it. Enjoy the ease it brings, and let your wallet thank you later.