A whopping 40% of realtors believe that a smart home is a great investment because they also sell faster. Smart homes are valued 11% more than their average value, which means homeowners will recuperate the money they spend improving their homes. And that’s regardless of the price, so whatever the starting price point of your home is, you’ll get 11% more than that value.
Now, this is the question: is that 11% worth it? Every year, you try to upgrade your phone to the latest model. When there’s a new smart TV in the market, you want to get your hands on it, too. Essentially, upgrading your home’s amenities and features follows the same path: you want the latest “model” that you can afford.
And when it comes to selling that smart home, you’re also going to get your money’s worth. Because people like to have the latest in whatever—homes, cars, phones, and fashion—they will be okay paying more for a smart home than they would for a traditional home. Real estate brokers have already been pointing to one specific piece of evidence in the smart home industry: the younger generation are buying homes, and smart homes are the kind that appeals to them.
Why Are Smart Homes More Valuable?
Smart homes add these things to a home: security, safety, comfort, energy efficiency, and convenience, among many other things. If you consider what you want in a home, these are exactly the things that you want. You need to feel secure, safe, and comfortable, but you also need the home to be convenient and energy-efficient. Combining these five features makes a smart home the most practical investment you can get from a real estate company.
Safety and Security
Smart devices such as a smart home security system, door locks, video doorbells, and security cameras make a home feel safe. The streets are becoming more dangerous every year, and unscrupulous people are getting more creative with their methods. The smart home security system gives homeowners 100% control of the home via a phone app. You can lock doors, see who’s at the front door, and switch the outdoor lights on and off with a tap of your finger.
It is almost impossible to hack into homes with a smart lock and security system. Most of these systems are directly linked to the local police station. Any attempt to disengage the system will warn the police of a present burglary.
Comfort and Convenience
Why do you renovate your home? Why do you fix the tiny things that sometimes don’t even need fixing? You do that because you want your home to be a sanctuary. You want everything to be convenient once you arrive. That’s what smart homes do—they make things easy for the homeowner. Smart TVs, built-in headphones, automated lights, and motion-detector lights are some of the amenities that a smart home has.
If you are selling the home, then these amenities will make it more competitive in the market. As technology continues to grow, so does the demand for a new breed of homeowners. The pandemic also affected these demands since they aren’t only looking for a comfortable home. They’re looking for a home office that has all the amenities of, well, an office.
So if you are planning to sell your home in the future, you should pack it with home office features such as lighting control, ambient lights, lots of electric sockets for devices, voice-activated speakers, and a lot of other home office smart technologies. You’ll get better offers if you address the issue of work-from-home setups.
Energy Efficiency
Every year, the world is getting a bit warmer/colder. No one can deny the impact of climate change. It is as consistent as the sun rising in the morning. This means that homes are also using a lot more electricity than a decade before. That’s the reason for the large electricity bill you get in your email. Thankfully, there are more devices now that do not burn your money. Equipping your home with smart tools and devices will not only make your home more energy-efficient but will also help you save a lot of money.
Homes, as much as you love them, can sometimes be frustrating. Things don’t work at times. There’s a lot of repairs needed. Not to mention, you need to have an endless amount of money for maintenance. But if you can equip your home with smart devices, things will be easier and more convenient. It will also improve the quality of your life.