06 Jun ROI and Sensible Upgrades: Smart Home Automation Tips

by Natalie Jones

Realtors often advise their clients to avoid making major home renovations and instead concentrate their efforts on small, affordable, cosmetic upgrades that make a positive initial impression on buyers. It’s considered a better use of one’s money because a costly structural improvement may not earn the anticipated return on investment (ROI).

According to a recent survey conducted by a national brokerage consulting company, there’s another way to make impactful improvements without risking coming up short when your home sells. Forty percent of realtors polled said they find that houses featuring smart technology sell at a faster pace and are particularly effective at helping sellers earn their asking price. Consider these smart-home features if you’re looking for improvements that entice buyers.

Smart hub

A smart hub is the nerve center of the home, controlling lights, locks, appliances, thermostats and more. It’s just the kind of improvement designed to attract young homebuyers. And at 36 percent, millennials comprise the largest group of homebuyers, according to the National Association of Realtors. As a generation accustomed to living with technology, millennials find such technological conveniences and efficiency to be quite appealing and preferable to homes that lack such technology. And if you’re on the fence about adding smart tech to your home, consider this: According to HomeAdvisor, smart homes tend to sell for 5 percent more than homes that don’t incorporate any technology.

Electrician

If you choose to incorporate automation technology, seek an electrician who has experience working with smart home automation features. Some lesser aspects of installation can be done DIY (i.e. LED light bulbs), but when it comes to networking an entire system, it’s best to leave it to the professionals, who can handle it efficiently and affordably.

Smart appliances

Smart appliances increase average ROI by more than 10 percent over homes with standard appliances and yield major energy savings. A smart refrigerator, for example, maintains precise temperatures in both the refrigerator and freezer components, while touchscreen controls operate water and ice dispensers (many are also compatible with Amazon Alexa).

Shades

One of the great advantages of integrating smart technology into your home is that it can be done affordably, and one component at a time. Homeowners can save considerably on energy costs with smart shades, which may be operated with Android and Apple devices. And at under $200, it’s an intelligent and cost-efficient addition to any home.

Lighting

Automated lighting is an increasingly popular feature among homeowners these days because they have a high rate of ROI. Buyers like smart lighting because it can save as much as 75 percent over standard lighting (thanks to smart LED bulbs), and because of the ease and convenience with which they can control lighting throughout the home. The energy savings and reduced utility costs are major selling points for prospective buyers.

Smart security

With smart locks, which can be controlled with Bluetooth or WiFi technology, there’s no need to worry about forgetting or losing your house key. It’s also a timesaving technology because locks can be programmed to unlock on arrival and can be programmed to admit specific individuals who need access, such as family members or maintenance workers, meaning no one needs to be home to let them in.

Smart home technology offers a happy medium between impactful home upgrades and simple improvements. Smart home features can significantly increase ROI and appeal to younger buyers who have come to expect the convenience and “cool factor” of technology in many aspects of daily life.

Image courtesy of Pixabay