Will Home Automation Improve Your Property’s Value?
Spectrum Technology Integrators offers several benefits for new construction and retrofit homes
Acquiring your own high-quality whole-home automation system is a tremendous personal achievement; however, there is a “bigger picture” to consider: Will investing in home automation increase your property value? The answer is YES! When residential network control is integrated correctly (most especially during the initial construction), your home immediately advances to a higher value.
Multiple top-tier real estate agents agree: For the right buyer, responsive control is a huge draw. In certain markets, the addition of “smart” features, like fully-integrated media rooms, are seen as a must-have amongst high-end house hunters. There’s no question about it, once you experience an integrated home, you never want to go back!
By the Numbers
Recently, the Consumer Electronics Association released a study that said 47% of participating homeowners have a programmable and/or “smart” thermostat currently installed in their homes. 31% indicated they own a security product while nearly 1 in 5 have monitored security, 9% own a video surveillance system, and 6% have electronic or programmable door locks. Homeowners are also opting to install entertainment-based home technologies, such as home theater pre-wiring and whole-home structured wiring systems.
“The rise in housing starts in 2013 has contributed to a steady increase in the overall outlook for home technology,” said a senior research analyst for CEA. “Products that can offer energy efficiency are leading the home automation technology market, with the ability to save money serving as a key motivator for purchases.”
The intent is clear, and the market opportunity for energy-efficient products is increasing. A strong majority of responding households (61%) expect to purchase energy-efficient home automation technology in the near future…which means higher expectations for those looking to construct a new home.
Quality is Key
Buyers in this market are fully aware of the available brands. They are looking for names like Crestron, Lutron, Control4 and other top-tiers. High-end brands are more likely to return their investment when it comes time to sell.
It is slightly different at the mid-market level. Having responsive technology in a suburban home is less likely to dramatically increase property values, but they are still excellent for making your home stand out in the market. A fully-realized media room, for example, will give your home significant market appeal and opens the door for you to increase the asking price over comparable properties in the area.
For many situations, a well-outfitted home automation system can actively boost your property values and adds a great amenity to showcase when you are trying to make a sale! When you’re ready to learn more about home technology, or if you have a new home under construction that you want fully automated and prepped for future upgrades, give us a call for the Spectrum Experience. We make it easy.