Buyers will Pay More for Smart Homes

Buyers will Pay More for Smart Homes

Network connected appliances, lighting, thermostats, TVs, security devices and more have increasingly become the evolution of smart home technology. Homeowners are provided with comfort, safety, accessibility, and energy efficiency in their smart homes.  

The Rise of Smart Home Technology

As time goes by, buyers are becoming more and more aware of the capabilities of smart homes and using technology to conserve energy and make their homes more feasible. So, why is it that buyers are willing to pay more for smart homes? Well, to find out the benefits and future of smart homes keep reading.  

Although smart homes are becoming higher in demand now, it is not a recent concept. Nikola Tesla started the smart home concept in 1898 with the invention or remote controls. It wasn’t until the early 2000s that we saw a rapid increase in the popularity of smart home technology. A variety of technologies arose and were slowly integrated into homes.  

Benefits for Buyers

A series of research projects by Coldwell Banker Real Estate revealed that 71 percent of buyers out of a sample of 1,000 adults prefer a move-in ready house that already has smart products installed. Also, sixty-one percent of millennials favor smart tech homes as well. Buyers are benefiting from both interior and exterior devices such as front door security cameras, smart air filtration vents and a variety of more.  

As for property management companies, like McDougal, having smart home technology can increase the market value of the house. Transitioning to a smart technology installed home improves every aspect of how the house operates with several benefits for buyers.  

Some of the benefits of having smart home technology include an increase in safety, accessibility and additionally, is more cost effective.  

The Future of Smart Homes

The future of technology is here, and elements of smart home benefits are leading buyers to pay more for their homes. Regardless of significant investments with smart home technology, buyers are receiving long term rewards. Safety, accessibility, and energy efficiency are at the control of our fingertips and is just getting started with smart homes.