Thinking of putting your home on the market or looking to make improvements and wondering what area of your home you are likely to see a return on your investment? Investing in Smart Home Technology should be placed near the top of the list.
A smart house is equipped with any number of devices that can automate tasks normally actioned on by a resident. The Smart Home market has exploded in recent years and includes devices across many different areas of the home such as:
Lighting
Appliances
Speakers
Doorbells/Locks
Security
Cleaning Systems
The Smart Home Industry is projected to reach 135.3 billion globally by 2025, up from 78.3 billion in 2020.t
How valuable is Smart Home Technology? According to a recent survey from Z-Wave Alliance, a consortium of 700 companies that make smart home devices, 91% of real estate agents polled said their Buyers would be willing to pay more for a home outfitted with Smart Home devices and 92% of real estate investor said they are putting money into smart devices to make homes more connected.
With such a variety of smart devices available, what categories are most desirable?
Security:
Security devices are one of the leading categories within the smart home space. They make people feel safe and allow them to monitor their home from anywhere via a smartphone. In fact, approximately 1/3 of people that bought smart devices said they did so to make their home feel safer.
SMART LOCKS + DOORBELLS
Rather than hiding your spare key in a fake plastic rock, take ease in knowing your home can only be accessed by those you trust. Both you and future buyers will appreciate this smart feature
SAFETY FIRST
“Owning a safe and secure home is appealing to every home buyer, from frequent travelers to families,” according to Realty Times. Investing in an alarm system, smoke detectors, and cameras can be big selling points.
Energy Efficiency:
Devices to help manage energy efficiency are preferred by Buyers. From lighting and shades to managing the thermostat, the devices help owners run their homes in a more eco-friendly and efficient fashion. Plus, automation allows users to set lights to automatically come on or turn off and run heating/cooling systems on automated schedules.
INVEST IN NEST
A Nest thermostat can help reduce electric bills, which can be a great perk for a “green” and frugal buyer. Plus, lower energy bills will help you save up for that dream home you've been eyeing.