How Home Automation Can Increase Your Property Value

There are many things that homeowners can do to increase the property value of their homes.

Small changes and repairs can already make an impressive first impression. But a coat of paint and a stunningly staged room will rarely skyrocket the selling price. You will need to do something bigger and better if you want to make a good profit on your property.

Curb appeal will fade as time goes on. Modern homeowners want homes that they can invest in with the future in mind and that reflect their modern lifestyles.

Home automation is not a new concept but it is one that many homeowners overlook when spending money on renovations before a big sale.

Not only does it increase curb appeal and the value of the home but it also shows that the house is kitted out for the future. Technology is not static; new objects are being invented every day. An Internet-of-Things (IoT) enabled home can save on bills and insurance. It is a convenient way to ensure that the home is safe and secure.

Buyers are often willing to pay more for a house if it is automated. 

Here are a few more ways in which home automation can increase your property value.

What is home automation?

The term ‘home automation‘ is an umbrella term that includes a wide range of smart devices that can be installed in your home (for example, smart thermostats, keyless entry systems, and smart appliances).

All home automation products aim to make life easier, save money on utility bills, and create a safe environment for the homeowner.

Smart gadgets ensure that you stay connected even if you are away from your home for prolonged periods. From a single device like a smartphone or a tablet, you are always in control of your home. 

Why does home automation increase property value?

Home automation is not a fleeting trend.

There are already more than 175 million smart homes in the world and according to surveys, 86% of millennials (the very generation currently entering the housing market) would pay extra for a smart home.

This does not mean that the older generations are completely disregarding home automation; many retired folk opt for smart homes because of the safety and security features. The younger generation, on the other hand, prefers customization and convenience. 

Which smart home technology should a homeowner invest in?

Homeowners must do enough research before investing in home automation technology.

It is a long-term investment and it requires a few bucks before it starts paying off. Cheaper products might work for the moment, but you might have to replace them sooner than you think. Homeowners should carefully balance the benefits and costs of smart home technologies before jumping into them. 

The second thing that homeowners should consider is the purpose of technology. This will determine which products you are going to buy. Some people want smart homes because it fits in with their busy lifestyles. Others care more about safety and security. By determining your goal you will minimize the risk of buying something that you don’t need. 

Lastly, homeowners should decide whether they want to invest in a full home automation system, or whether they want to start with only a few smart products. The latter method is the better option if you are unsure about what to invest in. If you want to start small, consider installing products like smart lighting, security systems, keyless entry, and built-in speakers. 

Even the smallest technologies can make a difference in the price of the property!