Smart home technology is becoming the new norm.  Around 33.2% of households had smart technology in 2019 and that number is expected to climb to 53.9% -- 70.6 million households -- by 2023 according to Statista.   

Given the increasing interest, it’s no surprise that many home buyers put a premium on smart homes.  According to CNET, 81% of smart home users said they would be more apt to purchase a home that had connected technology.  Read on to learn some of the simple “smart” upgrades you can add to your home to appeal to potential buyers.

Understanding what makes a home smart  

Smart technology is any product that makes your home smarter by either connecting devices to the cloud or some type of software that lets them function on their own based on patterns or intelligence algorithms.  Smart technology can operate independently or multiple devices can be interconnected to perform actions to save money, time, and energy.

Home automation is something that smart homes can do. Like it sounds, home automation involves automating functions that you otherwise would have to operate manually, like adjusting the thermostat when you are leaving the house. 

Smart technology has expanded to cover most areas of the home including safety, convenience, security, and efficiency.  The scope of what home functions can be interconnected and automated will only continue to grow. 

If you want to add smart technology to appeal to potential home buyers, where do you begin? 

Digital Media Solutions reported that the most popular products in 2019 were video entertainment (43%) followed by smart speakers (17.3%) and home monitoring and security (16.8%) while lighting and thermostats were lower on the list with 6.8% and 2.3% respectively.  Here’s a run down of some of the most popular smart home features to consider.

Security and safety can be improved with smart technology

Check your neighborhood Next Door page or Facebook group, and you’re sure to have seen smart home security technology in action as neighbors post videos of suspicious activity on their doorstep.  A quality home security camera allows you to keep a watchful eye on your home, especially while you’re away.  Cameras incorporated into doorbells can monitor your front door and let you interact with visitors without needing to be home or approach the door.  

Indoor cameras can also be useful in monitoring your children (or babysitters) and pets.  Smart tech can also include motion detectors that alert you when there is movement in your home or when doors have been opened. 

Smart locks are another piece of tech that can make life easier.  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.

On the safety front, smart home technology can notify you about unforeseen events while you’re away from home.  Smart moisture sensors detect otherwise unnoticed leaks that can result in significant damage.  Smart smoke detectors discern between smoke from cooking and smoke from a fire.  There is even tech that can close your garage door remotely or remotely turn on light while you’re on vacation, at work, or anywhere else.

“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.

Smart homes help with energy efficiency

For a relatively low cost a smart thermostat can deliver both comfort and cost/energy savings. At their most basic these devices establish a heating and cooling schedule based on when you anticipate being home.  More advanced devices can detect when you’re home and when you’re away, so that your HVAC system operates only when it’s needed.  These smart thermostats can help reduce electric bills, which can be a great perk for a “green” and frugal buyer.  

One of the easiest ways to add smart technology to your home is through lighting.  If most of your home’s lighting is in the ceiling and controlled by a switch on the wall, you can replace standard switches with smart switches and dimmers.  If you primarily use lamps then a smart plug will enable you to turn the lamp on and off — and dim its light bulb — with a smartphone app.  There are even smart bulbs that let you control not only the intensity of the light, but also the color.  

There are also numerous smart appliances on the market like smart refrigerators that self-adjust during peak energy times or alert you when the door is left open.  Smart ovens let you check how much time is left on the cooking timer via your mobile device.  There are even smart laundry machines that will wash clothes at the most cost effective time of day.  Now if only they would load themselves!  Along those same lines of thought, a smart irrigation system can help ensure your lawn and garden get enough moisture to be healthy and vibrant without wasting water. 

Smart technology is convenient

And we can’t forget the benefit of convenience.  Being able to dim the lights when you are ready to watch a movie without ever getting up from the couch or closing the blinds with a voice command or playing your favorite music while you make breakfast.  These are just some of the simple conveniences and interconnected smart home can offer. 

Embracing home technology is a smart move

Investing in something as simple as a smart thermostat, smart doorbell, or security camera can make your home more appealing to potential buyers.  According to a 2017 survey conducted by T3 Sixty, a brokerage consulting firm for residential real estate, 40 percent of Realtors believe smart homes sell faster, regardless of price.  Consumer Reports data from the same year showed that “...smart home features can boost your home’s resale value by up to 5%.”

We think that embracing home technology is a smart move.  If you want to know more about what you can do to increase your sale’s price and help your home sell faster, please reach out.  We’re happy to share our experience and get you started on the path to success.

May 5, 2020