How Smart Home Technology Can Be a Selling Point

Often, we judge a house by it’s good looks.  But, quess what?  Now buyer’s are judging it by its IQ.  Long-buzzed about smart home technology – think thermostats, smart lighting, and appliance controlled security systems are moving into more homes.   Smart home tech can up your coolness factor and make homes easier to operate.  Plus – it may also offer perks when you sell your home one day.  Home shpoppers are increasingly looking beyond that killer kitchen upgrade to a seller’s wi-fi signal and connectivity.  This isn’t just a priority for the techie set.  As smart home technology gets more affordable and easier to use, more people are adding devices.  Half of U.S. consumers owned at least one smart device in 2021, up from 35% in 2020.  That number is expected to grow as homeowners look to save money, feel safer at home, and add convenience.

A Home’s Technology Smarts Matter.  Here comes a potential home buyer.  Motion-activated lighting automatically turns on as they enter.  A smart thermostat adjusts the temperature for ultimate comfort.  The smart robot vacuum is keeping the home tidy.  The window blinds are adjusting based on the sun’s direction and the smart speaker is telling you about the home’s features.  Seriously, wouldn’t you be a little impressed?  Four in 10 Americans have bought a smart home device since the Covid-19 outbreak and are more interested in smart home technology.  How we interact with our homes is becoming different.  At some point, buyers will expect it.  The majority of real estate professionals believe smart home technology can help in marketing a home.  In fact, some professionals are already using smart home features as selling points.

Smart Home Technology Costs and Buyer Preferences.  Consumers between 18 and 34 said they would pay more for homes with home theaters, smart speakers in every room, and connected kitchens.  In the 25 to 54 age group, consumers said they’d pay more for solar roof tiles and home battery packs.  And for those 55 and older, solar roof tiles, smart doorbells, and security systems would be worth extra money.  Fully automating an entire home with higher end systems could cost upward of $15,000.  But an appraiser would factor in such a system at resale.

3 Ways to Avoid Misunderstandings About Smart Home Tech.  1) Find an agent with smart technology expertise.  They can help avoid hiccups in selling a smart home and also tend to be sabby marketers of smart tech.  2)  Identify which of your smart home technology devices or apps are real property versus personal property.  In general, items affixed or hardwired to a house stay – likely your smart thermostat or any switches and mounts.  If you plan to take you Nest thermostat or Ring doorbell, replace it before listing you home.  3) Turn over the virtual keys.  On closing day turning over the passwords in a smart home is like turning over the key to the front door.  For all transferable technology, reset it to factory settings to erase any personal data.  Leave instruction manuals or website links for the new owners to open up new accounts.

For further information about the value of smart tehnology in your home, call Falvey Real Estate Group at 518.452.3912