Why can smart home technology help you sell your listing?
Exploring The Merits of Smart Home Technology When Selling a Home
With the increasing availability of smart home technology, agents may find the more advanced, “smarter” homes appeal to more buyers, get better prices and even sell faster. From increased security and peace of mind, to energy conservation and convenience, smart homes are likely to affect the future of real estate. In addition, the installation of smart technology will add additional value when you want to sell your home. It’s good to know that the technology we use to improve our everyday lives can also be an investment that will pay off in years to come. Perhaps most telling is that 81% of households have admitted to having an interest in connected homes security wise and 72% of homeowners aged 18 to 40 would actually pay more — thousands more — for smart home features. But what are some of these home features;
Smart security: Security has always been a selling feature, but smart home security includes smart locks and alarm systems that connect to something every buyer already has: a smart phone.
Smart lighting: Smart lighting is often seen as a security feature, but those who have it in their homes can attest to its value in everyday living. Many systems can wirelessly control lights with a single button touch. Users can create schedules and control their home’s lights from anywhere.
Smart thermostats: Buyers can control their home’s temperature via their smartphone. These thermostats also learn when no one is home and adjust the temps accordingly, reducing energy bills.
Smart smoke detectors: Most would agree that they’d like to know if a smoke detector goes off in their home while they’re away. Smart smoke and CO detectors are designed to let homeowners know if this happens.
Security and energy saving are two of the main benefits a smart home gives to its occupants. Smart homes save up to 30-40% energy usage compared to non-smart homes. Lighting controls can help save energy – and money – by automatically turning lights off when they're not needed, by reducing light levels when full brightness isn’t necessary, or otherwise controlling the lighting in and around your home.
These benefits will be obvious to prospective buyers and are things all homeowners want. A further draw for buyers is that safe and efficient homes attract lower insurance premiums.
Did you know
The Global Smart Home Market size was estimated at USD 90.59 billion in 2021 and reached USD 103.30 billion in 2022, and is projected to grow at a CAGR 14.20% to reach USD 200.99 billion by 2027.