In case you havenít been paying attention to the retail market lately, smart home tech is everywhere. You can get a thermostat that learns your schedules and operates your HVAC system accordingly. There are also smart security systems that are easily controlled from your phone, personal assistants that will tell you the weather or play music, and light switches that can save you hundreds on utilities.
People are apparently taking notice of all the hype surrounding these tech goodies, and they want them in their own home. According to research, smart home features are the new, exciting feature that homebuyers crave.
Smart Home Technology Is a Priority for Homebuyers
Although a homebuyer wonít turn their nose up at a house just because it doesnít have smart features, a few smart additions can significantly increase your chances of selling a home. The real estate firm Coldwell Banker recently performed a survey that reveals smart home upgrades as a huge advantage for sellers.
The study, featuring responses from 1,250 randomly-selected American adults, showed that 71 percent of homebuyers want a house thatís move-in ready. About 57 percent of those buyers are willing to buy an older home that needs a little work as long as it has smart home features.
In addition, 54 percent said that if they had the choice between a home with smart features and a very similar home without, theyíd buy the smart home, even if it was significantly more expensive. In total, 65 percent said that they would spend more for houses with smart home technology, and that theyíre more likely to close on a home quickly as a result.
Another survey revealed that 86 percent of millennials are willing to pay more money for a rental property if it has smart technology installed. The same survey recorded 65 percent of baby boomers saying the same thing. Thus, we see that adding smart technology to a rental property can be a huge advantage to your profits.
7 Smart Gadgets Your Home Needs
In 2016, more than 80 million smart home devices were delivered around the globe to appease the needs of homebuyers and renters who want smart technology. Thatís a 64 percent increase from the year before, and the numbers are climbing even higher in 2017.
If you want to increase your resale or rental value while making a more comfortable living, you need a few smart gadgets yourself.
- Mobile-Controlled Home Security
Everything from cameras to alarm systems can be controlled from your mobile phone nowadays. It can raise your property values and decrease your insurance rates, leading to higher profits on your home sale.
Homes in high crime areas benefit most from a smart security system. It allows the homeowner to watch their house from anywhere, knowing that itís protected from burglary and other crimes.
- Connected Thermostats
There are a number of highly-rated smart home thermostats on the market, but Nest and Ecobee 3 are among the most popular. These thermostats can be programmed to only run your heating and cooling when itís needed, conserving energy and lowering your utility bills. Some of the more advanced thermostats can also learn your habits, taking programming out of the equation.
- Voice Controlled Personal Assistants
According to another Coldwell Banker and Vivint Smart Home survey, about 48 percent of Americans with smart home features have voice controlled products and 79 percent of millennials say they want voice controlled devices where they live.
This has a huge impact on both the current rental market and the real estate sector of the next 10 years when millennials will begin buying houses. Installing smart home tech now can get you ahead of the curve.
- Smart Watering Systems
Smart watering systems keep properties looking nice while also conserving water. Youíll use only the exact amount of water needed, and if itís a rainy season, you can easily deactivate the system to avoid overwatering.
Many watering systems can also be controlled from your phone, so if you forget to turn off the water before you go to work, you donít have to run home.
- Smart Lighting Systems
Philips Hue or Phillips Wake-Up lights are very popular in smart-tech houses. They can change colors, mimic the sunrise or sunset, dim, send warnings, or turn on or off. You can control the whole thing from your smartphone. Theyíre also LEDs, which require less energy and, therefore, cost less than a typical light bulb.
Smart lighting systems are also good for security purposes. Automatic lights can deter burglars and make your home safer.
- Wireless Outlets
If you forgot to turn off a lamp, the television, oven, iron, or any other electrical appliances, you can do so from your phone connected to a wireless outlet. Itís also great for turning off appliances in your childís room when you donít want to wake them. Try the WeMo Switch, a popular version of this wireless commodity.
- Smart Locks
Smart locks make keys obsolete. You can insert a code or wave your smartphone to unlock the door. Theyíre harder to crack than a regular lock, adding a layer of protection to the property.
They can also be unlocked or locked from anywhere with a wireless connection. That way, you can let in the housekeeper or repairman when youíre not home.
Whether youíre looking to raise your property values, make your home more attractive to buyers and renters, or add a little convenience to your lifestyle, smart home tech is the way to go.