Smart home technology (SHT) has the potential to boost your home’s value. Installing the proper devices like smart thermostats, high-tech home security systems and smart lighting can add thousands of pounds to your asking price. In addition, a property fitted with smart home technology can attract more buyers, resulting in a faster sale.
What are the best smart technological solutions that will increase your home’s value? Is now the best time to invest in SHT if you are planning on selling your home? This article answers these crucial questions.
What is Smart Home Technology?
Smart home technology refers to various systems and sensors designed to automate many home features. A smart home system aims to increase convenience, reduce energy bills, and lower carbon emissions. Technology solutions in smart homes could range from smart meters to appliances, security systems and gardening devices.
Why Smart Home Technology Adds Value to Your Home
Many people may be put off by the initial cost of investing in digital technologies. However, various studies show that energy-saving smart devices can increase a property’s value. For example, a report by the Department of Energy and Climate Change found that home values could increase by up to 38 per cent in some parts of the country.
On average, a typical house in the United Kingdom could add £16,000 to its value by making energy-saving improvements. What’s more, the prospect of lower utility bills gives you the edge over similar properties in your area when attracting potential home buyers.
Smart Home Technology that Boosts Your Home’s Value
Here is a short scenario showing the benefits of installing smart devices in a home.
You leave for work, and the smart thermostat automatically adjusts the temperature while you’re away. During the day, an unexpected caller arrives, and you can answer the smart doorbell from your mobile phone. Also, the drip irrigation system kicks at the optimal time to keep your garden looking lush and healthy. Finally, dinner is ready to remove from the preheated oven when you arrive home.
Let’s look at some of the best smart home devices that can cut energy costs, make your life easier and boost your home’s value.
Smart thermostats to slash energy use
Investing in smart technology can improve your energy efficiency rating, boosting the value of your home. As a result, an energy-efficient home is more attractive to prospective buyers, and you can cut your carbon footprint at the same time. For example, smart thermostats can analyse heating systems and adjust the heating schedule to optimise performance.
A study in the U.S. found that smart thermostats could reduce heating bills by up to 30 per cent.
You can boost the value of your home even further by installing energy-saving technology like air source heat pumps, solar panels, or smart storage heaters.
Home security and safety are of paramount importance to potential home buyers. Many smart home technology products allow homeowners to monitor their property when away from home. For example, security cameras with sensors can send notifications and live feeds to your mobile device. This can give you peace of mind when on holiday or at work.
Other types of smart home technology include sensors to detect smoke, carbon monoxide or water leaks. These valuable smart home devices can help prevent significant damage to your home when you are not around.
Smart door locks are another technological solution that makes a homeowner’s life more comfortable. For example, you could access your home using a wireless remote control or smartphone. This system also allows you to lock the house remotely if you forget.
Switching to LED lighting throughout your home can increase its value by cutting energy use. However, installing smart lighting devices can help transform your home. For example, you could change the room’s ambience and mood with a voice command or tap on a mobile device. Or the light can automatically dim at the same time every day to help get kids ready for bedtime.
Smart lighting also helps increase home security, especially during shorter winter days. You can set the system to mimic being at home by turning lights on and off when it starts getting dark outside.
Installing a home hub virtual assistant can set your home apart from the other homes for sale in the local area. The most popular assistants are Amazon Alexa, Google Home, and the Apple HomeKit.
Many buyers are attracted to homes with appliances and security systems connected to virtual assistants. So if you have this installed, it is undoubtedly something to showcase when showing potential buyers.
Selling your Property with Hastings International
At Hastings International, we aim to help you sell your home for the best possible price. Installing smart home technology is just one way to increase its value. However, our team of property experts is on hand to give you the best advice on other ways to maximise the value of your home.
Please contact us today to get a valuation for your property.