Merit Real Estate

3 Reasons A Smart Home Is Valuable

Smart home technology

Many homeowners don’t understand the immense value of smart home technology. Imagine this: you’re heading home from grocery shopping during the hottest part of the day in the hottest part of the summer. You open your trunk, load your arms with bags, and lumber into your home. Others might expect a toasty home— you’ve been gone for several hours and there’s a heatwave outside— but your house is cool. That’s because not only are you smart, but so is your house.

Smart Home

Smart home automation allows you to control devices, appliances, and security in your house from anywhere in the world. Using an app on your smartphone or tablet, you can manage major appliances that control temperature, lights, and alarms such as security, smoke, or carbon monoxide. You can even control your television, refrigerator, coffee pot, Crock-Pot, front doorbell, washing machine, dryer, and more. Smart home technology enables you to live more comfortably now, while also proving to be a smart investment even after you leave your home.

You can increase the resale value of your home by up to 5 percent with smart home devices, according to several major realtor resources. That means that although the average sale price in Redondo Beach is about $1.2M (through 2020), a smart home could go for even more! And while you don’t have to be a tech genius to install many automation products, you should hire an electrician to make sure it’s done right (electricians typically charge $40 – $100 an hour).

With its ease of installation— not to mention how convenient it is to use— making your home smarter could give you a competitive edge when it comes time to put your home on the market. Here are three reasons why a smart home is a smart sell.

The Value of Smart Home Tech to Millennial Home Buyers

The Internet of Things is a big deal to millennials. They have grown up accustomed to the convenience of being connected and will look for that in a home. Only recently have millennials become major players in the housing market. In fact, millennials are now responsible for nearly 40 percent of home buyers. They are a generation that likes to stay flexible and mobile, so homeownership wasn’t much of a priority— until now. A smart home is appealing to them because it’s not about a house; it’s about a lifestyle. With AI (artificial intelligence) in their homes, millennials can enjoy the music playlist from their phone on speakers in their bedroom, have their emails read aloud to them while they make coffee in the morning, and watch their pets home alone during the day on their phones.

A Smart Home is More Energy Efficiency

Perhaps one of the most influential selling points of a smart home is its energy efficiency. There are many reasons people strive to be mindful of their environmental impact. Millennials are concerned about the environment and sustainability. Because home automation allows you to control and conserve energy, it’s a big win for folks who care deeply about their carbon footprints. Other people mostly enjoy the major cut in utility bills that smart homeowners often see. Whether saving you money or saving the environment, a smart home’s energy-saving reputation will bring buyers to your door.

Smart Homes have an Edge in the Market

Whether it’s a buyer’s market or a seller’s, you are going to have stiff competition in the housing market. From similar homes in your neighborhood to newly-gentrified communities catching all the attention, you will need to find ways to make your home stand out on the market— and smart homes can do just that. A smart home gives you a competitive edge in two ways: piquing curiosity and attracting buyers from all walks of life. A rising professional may be drawn to the ability to turn on the lights at home while working late at the office. A smart security system could appeal to newlyweds looking to start a family. An older, retired couple might be curious to see how they can control the temperature from anywhere they have cell service.

Selling a Smart Home

Upgrading your house to a smart home can happen overnight or over time. That’s the beauty of this technology— you have control from start to finish. Whether you want to appeal to a new generation of buyers or slash your utility bills, a smart home can be a smart choice for those looking to sell now or years down the road. Check out the top home technology for 2021!