Homeowners can boost the value of their properties by up to five percent by adding smart home features, according to a recent article at realtor.com. For a $300,000 home, that can add around $15,000 to its value - no small change.
Realtor.com reports that home appraisers are now beginning to factor in smart home features into their valuations, which means buyers and sellers alike should take note.
There are several reasons why smart home features can bump up a home's value. For one thing, they're a lot more secure. A recent survey by August Home, a maker of smart door locks, found that 63 percent of consumers buy smart home devices with security in mind. There are dozens of smart home tools on the market that aim to improve home security, including smart door locks, cameras that detect break-ins, and safety devices that can detect carbon monoxide, smoke, fire and moisture. Meanwhile smart locks allow homeowners to lock or unlock their properties from anywhere.
Another benefit of smart homes is they can save homeowners money. For example, the Nest smart thermostat can help to save around 10 to 12 percent on heating costs, and up to 15 percent on cooling costs. That works out at around $145 a year. Meanwhile smart dishwashers, lighting and water-efficient laundry machines can help to create even more savings.
Smart homes can also help relieve homeowners' stress and save them time. Smart homes promise to make homeowners’ lives easier. You can operate or monitor a home’s systems and appliances via your smartphone or even through voice-assistance devices, like Amazon Echo or Google Home.
They’re easy to use. Many smart-home devices operate wirelessly and often can be controlled by your smartphone or tablet. You don’t have to be tech-savvy to install or operate them.