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Is It Worth Investing in Smart Home Technologies?

By Allison Halliday | September 9, 2017

This is the question posed in an article in Journalnow.com especially as more traditional home improvements such as remodeling kitchens and bathrooms often give good returns when it comes to selling.

Nowadays interest in smart home technologies is increasing with retailers offering digital devices that can control just about everything from a home security to its lighting and entertainment and its heating and cooling systems. However, these devices aren’t necessarily cheap and homeowners need to consider if spending money on smart home technologies is worth the potential returns.

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The article suggests considering the pros and cons of each device to decide if it’s worth the outlay. Devices such as programmable thermostats have become immensely popular and while initially expensive, these types of devices can save money in the longer term, helping to reduce utility bills. Smart lighting offers similar savings, turning off lights automatically when a room isn’t in use and allowing users to control lights remotely via smart phones. Everybody wants their home to feel safe and secure and this is where smart devices can win, providing live video feeds and sending alerts to smart phones or computers, and allowing users to unlock and lock doors remotely.

There’s no definitive proof that having a smart home increases the sale price but it may make your property more attractive than others in the same area. Apparently smart homes tend to spend less time on the market and millennials are the biggest adopters of this technology. Over the next few years, they will expect to see smart technology as standard instead of it being viewed as a perk.

While those of the pros of having smart home technologies, one major con is that smart devices can be complex to use, often requiring a separate application for each device. For the less technologically minded, persuading these devices to work together can be awkward at best. The programs used to operate these devices also tend to become obsolete quickly and upgrades may be costly. Security is another big problem since most smart devices need an Internet connection although these risks can be greatly reduced by following proper security practices.

Allison Halliday is a Realty Biz News contributing writer. She handles International Real Estate and is a seasoned blogger.
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