Smart Home Features That Add Value
Smart home technology is a growing trend, with nearly half of American households now implementing at least one form of the technology. As Realtor.com outlines, these products can make our homes a better place, saving us “money, time, headaches, and other hassles.” Below I’ve re-capped their top five reasons to “go smart.”
Safety
Safety and security are the number one driver of smart home technology decisions, with 63% of consumers calling with their largest motivation to purchase a smart home device. Realtor.com outlines cameras as the most common feature, but there are many other technologies that can detect an array of threats: “smoke, fire, carbon monoxide, moisture levels (important if you’re concerned about leaks or flooding), radon, and so much more.” There are also locks that can be installed and operated with a smart phone both while at home and away.
Money
Of course, smart home features such as thermostats and energy efficient appliances can dramatically reduce your utility bills. According to a study conducted by Nest, their smart thermostat saved an average of 10 to 12 percent on heating and 15 percent on cooling per year, a figure that means the device pays itself off in as little as two years. Smart lighting, dishwashers, laundry machines and other appliances are also available, however they have a greater impact on your wallet in the short term and can take many years before paying themselves off in utility savings.
Relaxation
Wi-Fi enabled smart speakers can make everything about our daily lives easier, from asking about the weather, to setting timers. These can also be transitioned into smart home hubs. As Realtor.com puts it, you can enable “various smart gadgets to speak to one another (i.e., your smart alarm clock can wake you up and turn on your smart coffee maker, while your smart fridge can sense you’re out of eggs and add that to your grocery list).”
Installation
Just the thought of installing a smart home device can sound daunting, however many of today’s products are simple to start up and offer videos and other materials to support you throughout the install.
Sellability
Consumer Reports says that smart home features can boost the resale value of a home by as much as five percent, which equates to an additional $15,000 on a $300,000 property. Appraisers are increasingly incorporating smart home technology into their valuations, as well. Not sure which device to choose? Cornerstone Home Lending says the following items are near certain to increase your home’s resale value (by as much as 11 percent):
Smart Appliances
Smart Home Security Camera
Smart Hub
Smart Lighting
Smart Locks
Smart Shades
Smart Smoke Detectors
Smart Speakers
Smart Sprinklers
Smart Thermostats
Smart Voice Control
If you’re looking for more cutting-edge design and the latest products, take a look at the top 25 gadgets from CES 2019: