How smart home devices can increase property value
What is a smart home and smart home devices?
A smart home is a residence that is equipped with network-connected devices that has the ability to automate and optimise (lights, thermostat, security etc.) remotely or by a system. A home automation device is designed for the consumer to maximise convenience, increase energy efficiency thereby slashing your bills, and promote a safer home environment.
Some examples of these devices include:
Smart thermostats. They allow you to remotely control the temperature of your home, learn your behaviours and give you energy consumption reports.
Smart lights. Most smart lights come with sensors that turn on and off when you enter a room or even within a stipulated time every morning or night (routine feature), some smart lights can even change colours to create an atmosphere or mood.
Smart home security systems. Systems that consists of a network of integrated smart devices that works together and can be controlled by a central control panel to protect the user against potential theft. It can notify you if suspicious activity is going on at home like a window or door being opened, and you can take action from there.
Smart locks. Locks which grant you the ability to grant access remotely and even see view the access logs of your home. Smart locks come with different modes of entry (Access PINs, RFID tags, Bluetooth keys), but one thing's for sure, you no longer need to carry a key.
These are but a view examples, the list of smart home products out there is endless! You can even integrate all these devices to a smart hub, can control them all on a centralised panel rather than juggling half a dozen applications from different companies. Some smart speakers can do the trick too!
Does a smart device add monetary value to your property?
Unfortunately, when it comes to increasing the quantitative value of your home, homes equipped with smart home tech may not sell more. You may be wondering why is this so, being that most home additions like flooring, tiles or major renovations increases the value of the home. But alas, appraisers are looking for things like the number of rooms, where the home is located and other additional amenities. For a smart device to actually make a difference, you'll have to be willing to spend some major cash, since only whole-house automation systems will increase your property value. As great as small upgrades like the Nest Hello or Apple Homekit are, they don't really do much for you in this aspect.
Smart home facilitates the selling process/ helps you sell your home faster
Although it doesn't increase the amount of cash in your pockets, having smart home tech in your home is still definitely beneficial to you in instances that you're trying to sell your property. Why? Because it'll guarantee that you'll sell your home much faster and with ease! With the proliferation of smart home products out there, it's hard to imagine a person that hasn't heard of popular smart tech like the amazon alexa or google home. Consumers are well aware of the benefits of smart home devices and homes with smart home devices are highly sought after by them.
Having a smart home is a great differentiating factor to make your property stand out, often, it raises the home value in terms of appeal. Some may even say that in this day and age, such devices are expected and even necessary when it comes to buying a home.
Why are Smart homes highly sought after?
It's only natural to be concerned about the security of your home. One of the benefits smart home products like smart cameras and security systems can give you is increased peace of mind and of course, safety. The presence of home security systems has always been a must for home buyers. Smart devices like smart security cameras, alarms and other accessories that can be operated through an application remotely makes your property especially attractive to these potential buyers, and will be particularly appealing to tech enthusiasts.
These devices can really raise the level of security for your home and here's how. Smart home cameras are capable of detecting an array of various threats, like break-ins, fire, smoke, moisture (if you're concerned about flooding).
Some smart locks also have security measures like tamper alarms (alert you when someone is trying to pry your door open), sensors that detect suspicious movement and even prompts you to press random numbers before your actual PIN to prevent wandering eyes from uncovering your code.
If you never want to lift a finger doing mundane tasks ever again, smart home devices make that wish a reality. Whether it be entertainment like watching television/listening to music or automation of a mundane task like turning off the lights, any task you think of there's bound to be a device out there that can make that task easier.
Smart home products can save you tons of money just from the energy saved. Smart thermostats can save you up to 12 to 15 percent on heating and cooling costs! Smart lighting plays a role in energy savings as well. Most smart lights use LED bulbs, LED which not only last 25 times longer than their traditional counterparts, but also uses 10% of the energy for the same amount of brightness. Given the fact that approximately 80 percent of buyers seek energy-efficient features when it comes to their purchases, getting some of these products will definitely improve your chances of a sale.
Choosing smart home devices to install
When choosing smart home devices, here's the golden rule: the more impressive you deem the device to be, the more reason you should install it. If you're looking to increase the monetary value of your home, think big! Think large home automation systems like control4.
There may be a potential issue that arises that the buyers happen to be not so tech-savvy or unfamiliar with the products, leading to them being put off by your home if your house is one decked out with the latest devices. To avoid such situations, we recommend that you to purchase well-known brands like Nest or even well-known products like the Philips Hue smart light. (Might remove this part since it means they shouldn't buy from igloohome)
However, do make sure to let your agent know that these products are part of the sale! This is especially important for devices that do not require any installation (smart security cameras, smart speakers and more).
With all that being said, it's safe to say that buyers nowadays are interested in move-in-ready homes. They're scouring for homes that they don't have to spend money or time to fix up. Smart home devices are definitely part of this recent evolution. As mentioned before, buyers seek security, convenience and safety. Smart devices provide all of the above. Installing them is never at a deficit to anyone since it benefits both you and the buyer. With these products getting more accessible and affordable, there's no reason not to make your home smart!