The Rise of Smart Home Technology in Real Estate Industry
Everyone should know that smart home tech is rapidly gaining popularity. As such, anyone seriously interested in real estate needs accurate information. We want to help! So, here’s a guide on the rise of smart home technology in real estate industry.
The steady spread of smart home technology in real estate
Smart home technology in real estate industry is, without a doubt, becoming far more prevalent. Party because it is convenient when paired with another helpful tech, such as installing solar panels on your home. The sheer potency of such a combination means you are decreasing your monthly costs and getting an undeniable boost to your home’s functionality. As such, the trend has quickly caught on, and more people are becoming interested in owning a smart home, significantly since solar panels offset the main concern that a smart home may inspire. That being increased power bills that not every household is ready to tackle.
The price increase boost
Currently, smart home technology in real estate immediately boosts the value of any home with it. Anyone in a financial position to do it adds at least a little bit of smart home tech to their home before putting it on the market. It almost always boosts the property’s value enough to justify the investment, especially regarding security features such as smart cameras, alarms, etc. As the storage experts from Verified Movers note, homes with smart air conditioning in dedicated storage rooms, such as pantries, are also top-rated on the market right now. What makes smart home tech even more appealing is that you can have it added to your home and enjoy it for a long while before selling. It’s still new enough that even ‘older’ models of the tech boost property value.
The preferred buyer of your property on sale
Here’s a highly beneficial trait of home technology in real estate industry: it immediately boosts a home’s luxury level. Say that you have a decent property on hand, but it’s not that it stands out on the market. It has no pool, private gym, or large home office. In other words, you can’t market it to the more wealthy buyers. However, so long as you furnish it with smart home tech, it instantly becomes more appealing. From there, if you put in the effort to touch up the property a little, such as giving it a fresh layer of paint, cleaning the exterior, and maybe starting up a perennial garden, you have a true luxury home on your hands. And, even if you don’t learn more about real estate, it should be evident that this changes the preferred buyers significantly.
The impact of smart home tech on waiting time
If this wasn’t enough to convince you that smart home technology in the real estate industry is a significant advantage, consider this. You can make a few other home improvements to your property to ensure it sells quickly as effectively as smart home tech. That is because smart homes are still a true novelty in the market. Those who are currently setting up smart homes are the people who intend to continue living in them. Few go to setting up a comprehensive smart home to put it on the market immediately. As such, even a home that only has some elements of smart home tech has major advantages in the eyes of the buyers. Whereas the average waiting time for a property on your local market might be weeks or months, listing it as a smart home will sell it quickly.
Accessibility and convenience
When talking about smart home technology in real estate industry, we have to mention why it’s so popular in the first place. And simply put, it’s accessibility and convenience! First, the tech, despite being very new, is affordable. Even if you can’t deck out your entire home in it, getting a few crucial pieces of smart home tech is possible. Second, the devices’ functionality truly improves a person’s daily life. For example, you can adjust your AC setting away from home, turning it off to save power until the last moment before you leave work. And you’ll still be able to arrive in a nice warm or pleasantly chilly home by turning it on when you set off. Using the tech during your first day in a new home can even simplify the process of settling in and getting acquainted with it!
From convenience to a requirement
Due to everything we’ve discussed, we can safely conclude that, in the future, smart home technology in real estate industry will not be considered a luxury or convenience. It will become a requirement for anyone who wants to sell their home at a good price. To draw a parallel, we can think about ACs. At first, having an AC in your home was a luxury and a stellar selling point that boosted the property’s value. Nowadays, trying to sell a home in America without an AC already installed, especially in the warmer states, will decrease the value of your home instead! People simply expect it, and while it does not directly increase value anymore, its absence detracts from the property’s appeal instead. So, when looking to renovate your old home for a sale, you’ll be forced to include smart home tech too!
Planning for smart home technology in real estate industry
As is obvious, the rise of smart home technology in real estate industry is not something avoidable. Anyone who wants to get involved in the industry will soon have to get much better acquainted with it. Otherwise, entering the luxury real estate market will not be easy.