In the past, improving a home’s resale value involved kitchen remodeling and painting the interior. Although these upgrades are viable options, integrating smart technology into the home is the latest trend. Learn about the top 5 ways of adding smart technology to a home and how it increases value.
1. Proven Efficiency
Energy efficiency is an attractive element to any household, reportsAmerican Family Insurance. Certainly, buyers want to know that their gas or electric bill won’t skyrocket after the property purchase. This scenario is particularly poignant for families moving into a larger property.
For example, today’s smart thermostats provide data and feedback on everyday use. Many models learn about a household’s energy use over time. As a result, it automatically adjusts for optimal comfort and cost savings.
2. Instant Entertainment
Increase your home’s value with a smart entertainment system. Hiring professionals to install a movie theater in the home is a clever place to start. An installation might include a wall screen, smart TVs, speakers, and other components. Because the components are a permanent part of the household, buyers perceive value. Subsequently, they don’t need to install their entertainment system. The entertainment room is up and running on move-in day.
3. Reduced Insurance Costs
Every homeowner must pay for insurance on the property. However, insurance rates may be lower when the home has security cameras. As a result, the home has increased value based on its lower cost of upkeep.
Ideally, install cameras around the home’s exterior so that you capture every angle on film. You might install a doorbell camera and traditional cameras bolted to the fascia. In addition, consider floodlights across driveways and walkways. By notifying the insurance company of the camera installation, the property has a lower chance of theft or damage. In the end, you’ll have lower insurance rates that are transferable to the next owner.
4. Turnkey Advantage
Nearly 70% of buyers want a turnkey or updated home, reports Fortune. Being a turnkey home requires a few smart upgrades.
Indeed, installing automatic lights and blinds around the home tells buyers that the property is cared for and ready to sell. These elements become star attractions during open houses, too. Because buyers appreciate new upgrades that add to their comfort, any effort to install the items before a sale is worth the investment.
5. Attractive Small Appliances
Undoubtedly, the kitchen continues to be one of the most important rooms of the home. Buyers want updated kitchens for almost every sale. In response, your home value increases with the addition of smart appliances. Upgrade the refrigerator, oven, coffee maker, and other appliances with smart technology.
Currently, these models might offer Bluetooth connectivity, Wi-Fi capabilities, and more. Other kitchen elements, such as the countertops and fixtures, may not be brand-new items. However, the home’s value rises anyway because the smart appliances make a difference.
Installing just a single upgrade to a home can make a difference during an appraisal. Consider your budget, and select a smart device for value enhancement. Prospective buyers will notice the upgrade and bid accordingly.