Four Reasons Why Home Tech Increases Your Property Value

Home tech

Smart homes are a million dollar industry. Home tech is as important as newly painted walls and a kitchen remodel.

First-time buyers, millennials, and even some baby boomers prioritize smart home technology. As you prepare to sell your home, consider what kind of tech could increase the value of your home.

From lighting, solar panels, to thermostats, there are plenty of ways to take your home to the next level. Here is why you should make the installation.

1. Makes Your Home Unique

How many homes in your neighborhood have the same floor plan? Cookie-cutter homes are common in subdivisions and smaller neighborhoods– but you can set your home apart.

If a person looks at a few homes in your area you can give them something to remember with smart home technology. If your home has an edge like that you will sell your home faster and have the leverage to get the price you want.

2. Real Property vs. Personal Property

Know the difference between real property and personal property when you decide to use smart technology to increase your home’s value.

Real property is something that your home needs to function. An example of this for home tech would be smart appliances, a Nest, a lighting system, or home security. If you install this type of extensive technology or spend over $10,000 you will automatically increase the value of your home.

For personal property, like Alexa, Google Home, or a smart TV– you will sell your home faster but they will not increase the value of your home.

When you sell, it is important to make sure the realtor knows which technology you take with you and what you leave behind. Also be sure they can explain the technology to the buyers– give as many details as you can.

3. Energy Efficiency

You will save hundreds to thousands of dollars a year with energy efficient smart technology. Using smart thermostats, appliances, light schedules, and more you will reduce your electric bill.

Solar panels are another form of home tech that will not only increase your smart home resale value but over time it will pay for itself.

4. Home-Tech is Safer

Safety and convenience. That is what you offer home buyers when you install home tech.

Your homeowner’s insurance will go down when you get a smart security system. You will also be able to access your home’s system from wherever you are, which is very convenient!

It is this feeling of security and safety that will appeal to home buyers and mortgage companies.

Living a Smart Lifestyle

Are you ready to live a smart lifestyle? Prepare a budget for how much you will spend on home tech renovations. Once you have a budget you can begin deciding what type of technology you want.

Take the next step and get a free consultation from Hive!