Experts estimate the smart home industry will be worth $20 billion by the end of 2020. With the explosive growth of smart home technology and the rapid-fire pace consumers are adopting it, it’s obvious that its presence (or lack thereof) will affect a home’s value. Smart home tech provides a low-cost way to increase the value of your home without dropping thousands of dollars on a new bathroom or a kitchen renovation. This article will explore the best tech to add to your home to make it appealing to buyers.
1. Smart Security
Home security is an ever-pressing concern, but the monthly cost of full-fledged systems can be a hindrance when it comes to selling a home. Lower-cost options like the Canary Home Security system provide a way for homeowners to have instant access to their homes from their smartphones while still providing an affordable third-party monitoring service. Prices for these systems vary, and the buyer would have to pay the monthly bill–but even the presence of security cameras makes your home more appealing.
2. Smart Lighting
The right ambiance can set the mood for an entire home, and smart lighting makes it easier than ever to do just that. Philips Hue and Lifx make it easy to install smart lighting throughout your home; just screw in a new bulb, set up the app on your phone, and you’re good to go. In addition, lighting makes up around 12 percent of a home’s annual energy cost. Smart LED lights reduce that by a significant amount and last for years. Basic smart lighting kits begin at $120.
3. Smart Door Locks
Smart locks give you the ability to lock and unlock the door from your phone, even if you are miles away. This is great for those times when you need to let the babysitter in, but you don’t want to give them their own key. Smart locks also keep a log of who enters and exits the home and the times of entry and use a process called geofencing to unlock the door for you as you approach. Smart locks start at around $250.
4. Smart Thermostats
If lighting makes up 12 percent of a home’s energy bill, heating and cooling make up another 40 percent. A smart thermostat is more than programmable temperature control–it actually learns your family’s habits and adjusts the temperature automatically. Smart thermostats also take in weather information from the internet and use it to keep your home at a consistent temperature without taxing the HVAC system. Smart thermostats run an average of $250 for the initial purchase, but save around $173 per year.
5. Smart Smoke Detectors
Few things in life are as annoying as the chirp of a smoke detector with a low battery. Smart detectors circumvent this problem by sending a push notification to your phone when the battery gets low, rather than chirping at 3 AM. In addition, these detectors send push notifications out when they are triggered, and some can even contact the local fire department for you. Smart smoke detectors start are $99.
All of the devices listed above add great value to your home without making a huge dent in your wallet themselves. For less than $1,000, you could smarten your home and increase your asking price by several thousand dollars. It all lies in the presentation. Just tell buyers how this technology will make their lives easier.