In a buyer’s market, sellers have to put in extra effort to make their homes stand out from the pack. If you lack the budget or time it takes to complete a full kitchen reno, upgrading your home to “smart” status can help increase your return on investment.
According to a survey by The Washington Post, 65 percent of homebuyers are willing to shell out more for a home equipped with smart technology. How much more depends on the type of equipment installed, but a joint study by The National Association of Home Builders (NAHB) and the Consumer Electronics Association (CEA) found that overall, smart home technology can increase the final sale price of a home by 3 to 5 percent. If your home is worth $500,000 that equates to $15,000 — no insignificant chunk of change!
Coldwell Banker Real Estate LLC recently polled over 3,000 people to pinpoint the most popular smart home features potential buyers would prefer to have pre-installed. Keep scrolling to find out if your home is smart enough.
1. 77 percent would want smart thermostats pre-installed
How often have you forgotten to turn up the thermostat before leaving for work or wished you could come home to a perfectly temperate condo instead of an oven? Many entry-level smart thermostats are priced under $200 and can save you nearly as much on heating and cooling costs every year. It’s an affordable home tech upgrade with big payoff.
2. 75 percent would want smart fire detectors pre-installed
A smart fire detector doesn’t just sound an alarm, it alerts your smartphone. This piece of technology is particularly helpful for those who own a vacation home or travel for work. Many models feature voice alerts that will tell you what the threat is, where it’s located and how you should proceed.
3. 70 percent would want smart carbon monoxide detectors pre-installed
Thankfully, you may not have to purchase separate fire and carbon monoxide detectors as many models include both features. Carbon monoxide is known as the “silent killer” because the gas is odorless, colorless and tasteless. Although this piece of smart home tech won’t save you any money on your utility bills, it could save your life.
4. 66 percent would want a smart camera pre-installed
Have you ever wondered what your dog does all day while you’re at work? Buy yourself a smart camera to find out! Joking aside, smart cameras provide indoor and outdoor surveillance to keep you and your loved ones safe. For home resale purposes, a smart doorbell camera or outdoor security system would likely be the most worthwhile investment.
5. 63 percent would want a smart lock pre-installed
Smart locks make keys obsolete, allowing you to unlock the front door for the dog walker, housekeeper or a family member directly from your smartphone. You’ll never have to worry about whether or not you remembered to lock the front door — an app will alert you if you have.
6. 63 percent would want a smart lighting system pre-installed
Smart lighting runs the gamut from color-changing LED bulbs to whole-home automation systems. Most smart bulbs and switches can be controlled through voice commands when synced with Amazon Echo or Google Home. It’s not exactly cheap to outfit your entire home with smart lighting (CNET spent just under $2,000 automating each light in their 2016 Smart Home), but the feature would certainly entice tech-savvy buyers.