We are more connected than ever before. Our phones keep us updated on the latest news, weather, scores, and social happenings. Our cars can give us diagnostic updates when connected to Wi-Fi. And now our homes have evolved from simply shelter to “smart”. Turning on appliances and turning off lights with your voice via different devices; monitoring every inch and ounce of energy your home has and uses from anywhere in the world; these abilities are becoming more important, not only for homeowners but for home buyers as well.
While the tried-and-true repairs and updates (a fresh coat of paint, landscaping, etc.) are still very necessary, making technological updates are becoming more of a necessity than a nicety. A “smart home” used to refer to high-end, complex, automation. Hard-wired entertainment components and closed-circuit security cameras have now been replaced by Nest thermostats, Amazon Echo, Ring doorbells and more. And the interest is there. In 2016, a NAR surveyed showed that 42% of agents had clients that were interested in smart home devices. This statistic is even higher for Millennials. 77% of Millennials have purchased some sort of smart home product, and this segment is forecasted to buy over 30 million homes over the next 12 years.
Now while it may seem like just another expensive investment into a home you are leaving, The NAR’s Center for REALTOR® Technology has shown that homes equipped with smart devices have seen about a 5% increase in sale price. With the modest prices of new devices, this can mean a significant ROI. So how do you go about making your home a “smart” home?
Start at the Front Door
A smart lock or a doorbell camera is a great, easy, inexpensive ways to instantly upgrade your home. In addition to the positive first impression it will make on prospective buys as they approach your front door, it also provides instant value.
Stick with Name Brands
Amazon, Google, Nest, and Ring are all very well-known brands inside and out of the smart home market. These devices will also pair nicely with the majority of mobile devices, making integration easy for the new owners.
Add a Couple of Connected Outlets
Adding an Amazon Echo or Google Home can be an affordable way to instantly enhance your home’s technology. You can take it a step further by installing the device’s corresponding connected outlet. These outlets allow you to control whatever is plugged into them. Turn on the TV, turn off the lights, set timers, and more.