A home is considered smart when it’s equipped with technology-based products that help make the home run more efficiently. The products are intended to provide maximum convenience and improve the overall quality of life for the homeowner. Also, when a house is equipped with smart products, it can increase the home value and appeal for some potential buyers. From locking the door with a single tap to turning off lights using voice control, smart technology can save you time and reduce your energy consumption.
There is a growing demand for smart home technology as millennial homebuyers in Florida are looking to purchase a home that is up-to-date and has some technology features. Most people think that smart homes are only limited to the luxury market, which isn’t true. There are smart home applications for all lifestyles and price ranges. We recommend installing easy-to-use, reliable, and recognizable smart products that most people have used already.
Five benefits of making smart technology upgrades to your home
1. Increasing Property Value
According to Florida real estate experts, smart home technology can increase your property’s value by 5%. For example, this translates to $20,000 on a property that is listed at $400,000. Appraisers typically adjust their valuations by comparing technology-enabled homes with similar ones that do not have the same features. Therefore, smart homes are usually valued higher.
2. Selling faster
A staggering fact shows that 81% of homebuyers prefer buying properties with smart devices. For this reason, the leading real estate companies globally have developed “smart home staging kits” to make home sales more appealing. When potential buyers walk through your home, they want to envision their future life and typically upgrade from their current home. Smart homes let them imagine just that, creating a modern and ambient home.
3. Creating a move-in ready home
The modern homebuyer in Florida is looking for a home that is well-equipped to handle their daily needs. Most homebuyers are looking for a property that is ready to be moved into, and by equipping your home with smart devices, you’re responding to what they want. A smart home with features such as climate control, shading, and lighting will help sell itself.
4. Safe and secure
Smart home technology’s surveillance and security features provide peace of mind to homeowners. Property equipped with smart security systems will always have a competitive edge over other homes for sale. With a single clap or touch, you can unlock any door and arm the alarm system. In addition to this, real-time surveillance and updates can be sent to homeowners, making them feel at ease when on vacation or at work.
5. Saving on monthly energy bills
It’s no secret that smart homes can help homebuyers save on their monthly energy bills. On average, homeowners using smart technology save 15% on cooling costs and 10% on heating costs every month. Installing smart home automation that you can control from your phone or tablet for things such as thermostats, light control, and smart shading creates a bundle of cost savings. Therefore, this is an investment that will pay off over time.
If you are preparing your home for sale, you should consider outfitting it with smart technology. Tech products have been shown to increase home values significantly, and as millennial borrowers enter the real estate market, these features will become more important.