Will home automation add to the value of your home?
In our last blog on why you may not want to do home automation as a DIY project, we stated that correctly done, these technologies can add value to your home. This bold statement got some feedback from prospective customers. How they ask, will home automation add value to your home, and how much?
In this blog, we will explore both if it adds value and try and quantify how much.
A Smart Home sells faster.
A 2018 Coldwell Banker smart-home survey showed that most potential homebuyers want smart-home tech included in the deal: 77 percent want smart thermostats, 75 percent want smart smoke detectors, 66 percent want smart home security cameras, and 63 percent want smart locks, to name a few.
A Smart Home is safer.
In nearly all homes BRAVAS works on, we have a conversation about using technology to make a home safer. According to the smart lock provider, KwickSet, nearly 8 out of 10 consumers cite security as the biggest motivation when they buy a home. While the idea of security devices and cameras that can detect or monitor for break-ins is not new, there are many other home and life-safety issues to consider. Safe smart homes can also see danger like smoke, fire, carbon monoxide, moisture levels, radon, and so much more.
A Smart Home uses less energy.
Google says that their smart thermostat, NEST, has saved consumers on average 10% to 12% on heating and 15% on cooling. They report that based on typical energy costs, that translates to an average savings of $131 to $145 a year, which would mean this smart device (which costs $249) can pay for itself in less than two years. If you combine a smart thermostat with lighting and shade controls, this can be boosted even higher. A REDFIN blog lays out more ways to use technology to save utility costs.
A Smart Homes show better.
When you are looking to sell your home, a well-designed Smart Home seems easy and convenient to use. The prospective homeowner will see how to access all their home systems, including heating and cooling systems, intercoms, music, and multimedia devices throughout the home. During showings, you can demonstrate that you can watch a video or listen to audio in any room; video intercoms make it easy to communicate with others in the family or visitors at the door. All of these and smarter home technologies streamline everyday tasks into a single simple control system. All the investments already complete, and a home ready to move into.
A Smart Home sells for more.
The hardest question to answer is how much value this technology will add. The most often- cited answer to this says that according to consumer reports, smart home features can boost your home's resale value by up to 5%. That 5% matches how much BRAVAS typically suggests homeowners spend on a basic home setup. Of course, if you do more, like add a home cinema, you can add more to the value of the home. Here are six pieces of technology that can quickly give you that bump.
A Smart Home is the future.
At BRAVAS, we believe Smart Homes are inevitable. Whether it is for security, safety, comfort, or convenience, no home of any size will be without smart home technologies in coming years. Not having this technology will make a home both harder to live in and harder to sell. Of course, having a poor design or implemented systems will be no better than having no system at all. That's why BRAVAS is here to help.