Smart Home Technology is Taking the Real Estate Market by Storm
By now, you’ve probably heard about – if not seen for yourself – Amazon’s Alexa commercial at this year’s Super Bowl. You might even belong to the 25 percent of people who own some kind of smart home product (like Alexa).
What you might not have heard is that smart home technology is taking the real estate industry by storm. In fact, AI and other smart home technology can actually increase the resale value of most West Michigan homes – an important factor to consider now that more and more Millennials are buying homes and interested in smart, connected devices.
This shift makes sense. Smart home technology can increase energy efficiency, which saves homeowners money on utility bills, while also providing an eco-friendly appeal. Combine money saving with the added convenience of AI 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.
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.
Controlling 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 faster. According to A lot Living, “the [automation systems] that can add the most value 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, more and more home buyers are prioritizing the connectivity and convenience offered by home automation, AI and other smart technology systems. So whether you’re looking to buy your first home or sell one you’ve had for a few years, consider the benefits of a fully-automated home.