By now, you’ve probably heard about – if not own for yourself – Amazon’s Alexa. You might even belong to the 25 percent of people who own some other kind of smart home product.
What you might not have heard is that smart home technology is making its mark on the real estate industry. In fact, artificial intelligence (like Alexa) and other smart home technology can actually increase the resale value of most homes – an important factor to consider now that more Millennials are buying homes and interested in these connected devices.
This shift comes as no surprise. Smart home technology can increase energy efficiency, which saves homeowners money on utility bills, while also providing an eco-friendly appeal. Combine this with the added convenience of technology controlling your thermostat and connecting all of your media, to the safety and security of keyless entry, video doorbells and 24/7 monitoring, and it’s no wonder why so many homeowners are investing in this tech to improve their homes and lives.
Houzz also reported an increase in the importance of smart technology integration among home buyers, especially first-time buyers, in their 2017 Houzz and Home renovation overview. This increase came along with an increase in “green” energy and material trends, as well as improving the functionality of a home and alleviating health concerns, which can also all be addressed with the right smart tech.
Having control over every aspect of their home is so important to some home buyers that integrating these systems can not only increase the overall market value of your home by 3-7 percent, but also help you sell it sooner. According to A Lot Living, the automation systems that can add the most value to your home “include whole house lighting control, automated door locks, temperature control that works from a phone, and security cameras, as well as home alarm systems.”
At a time when people are busy and constantly connected, home buyers are prioritizing the connectivity and convenience offered by home automation and other smart technology systems. So whether you’re looking to buy your first home or sell one you’ve had for a years, consider the benefits of a fully-automated home.