17 Apr Does Smart Home Technology Add Value To Your Home?
In today’s fast-moving and technology-dominant age, smart and innovative technology has become increasingly prevalent in the home. We’re not just talking about voice-controlled speakers and smart thermostats, we’re talking about a large-scale trend in the market that is transforming the ways in which we live and interact with our living spaces.
The Growing Interest in Smart Home Automation
Smart home technology offers us plenty of convenience and security benefits, not to mention it has been shown to reduce carbon emissions. From high-tech automated home security systems to a string of connected devices that lower your window blinds and dim your lights when the sun goes in, this smart home tech is a convenience boost for us, but also a big talking point amongst visitors and even prospective house buyers.
You may be wondering whether investing in smart home technology adds value to your property, and you’ll be pleased to know that it can. So what are the best smart home tech solutions to invest in if you’re planning on selling your home in the near future? This article will explore those in detail and their impact on property value.
How Does Smart Home Technology Increase Your Home Value?
The upfront costs of investing in digital home automation technology might put some people off. However, smart devices – particularly those that work to conserve more energy within the property – can increase the value of a property.
Back in 2013, the Department of Energy and Climate Change found that home values could increase by approximately 38% in some parts of the UK. By making energy-saving adjustments (i.e. improving EPC ratings), it could add approximately £16,000 to a home’s property value. Many smart home tech is designed to improve these EPC ratings, making it an attractive prospect for homeowners, despite the sky-high energy prices currently.
Although, while the idea of lower energy bills might seem some way off at the time of this article’s writing, once the market stabilises, such an investment could pay off in a big way.
It’s difficult to give exact percentages and figures of how much a home automation system can increase a property’s value, as the asking price is driven by a plethora of other factors.
In addition to the long-term energy-saving benefits your home could receive, it’s worth knowing that smart home functionality is in high demand. Of course, this doesn’t mean that you should buy any and every smart home device on the market. You should take the time to consider how smart technology can make your life easier while you live there, or, if you plan to let your property to tenants, how you can make a healthy return on your investment in rent recuperation.
In essence, it’s worth considering different types of home smart tech which could be an asset and essential feature of your property.
Types of Smart Home Technology to Consider
- Smart thermostats allow remote scheduling and control of your heating system, enabling you to optimise your energy use throughout each day, while maintaining optimal comfort in the home.
- Smart lighting allows you to automate light switches turning on, off, or dimming based on natural light levels, enhancing the ambience of rooms to suit certain times of the day.
- Cameras and security systems can be operated remotely via a central device and integrated with other features like video doorbells, smart locks and motion sensors. These IoT (Internet of Things) devices feed off a secure WiFi network, which, if kept secure and uncompromised with built-in detection and response capabilities, will enhance the security of your property.
- Voice-activated assistants and hubs like Google Home or Amazon Echo provide you with the option to control various other smart devices (such as smart audio systems, televisions and home entertainment devices) via your voice, offering additional convenience.
- Smart appliances ranging from fridge-freezers and ovens to washing machines can be controlled and monitored remotely for added convenience.
- Smart blinds and curtains can be controlled automatically to conceal windows and create more privacy in the home and save you manual effort in doing so.
- Smart energy monitors can analyse your energy usage and make suggestions on how to conserve more energy, thus lowering your energy bills and carbon footprint.
Remember, this list serves as a starting point, and the specific choices should align with individual preferences, budget, and compatibility considerations.
What Will Home Buyers Look for in a Smart Home?
It’s all well and good to understand how smart tech can provide short-term property value boosts, but ultimately, a prospective buyer might want to see evidence that your investment is worth the extra asking price.
It’s worth reinforcing the following long-term advantages that a home buyer will experience after they take the plunge and make a smart-tech-enabled home their own.
Enhanced Comfort and Convenience
Smart home devices make life easier and make day-to-day living more enjoyable and convenient. Whatever that may look like, whether it’s creating an ambient and picturesque home entertainment experience or giving homeowners flexibility and control of their appliances and energy usage when they’re not at home, smart home tech is there to suit your lifestyle. UK home buyers can rest assured that smart home technology provides plenty of additional comfort and peace of mind, particularly if they’re tech-savvy.
Energy-Efficiency
It’s clear to see the energy-saving benefits that can come as a result of integrating smart monitors, thermostats, lighting controls and so on, together. Automating your heating, cooling and usage based on occupancy and budget will allow you to maintain greater control over your energy usage and, in turn, reduce your energy bills. If you’re conscious of your carbon footprint, rising energy prices and protecting the environment, this technology can be an appealing factor for UK home buyers seeking an eco-friendly and cost-effective lifestyle.
Improved Security
Many people look for ways in which their homes can be made more secure and safe. Luckily, new security devices are making the rounds which can significantly enhance your home’s protection, from smoke detectors and door locks to video doorbells and smart surveillance systems. With customisable alerts and notifications sent to you on request or when something anomalous is detected, it’ll allow you greater visibility of your home when you’re not there, and reduce the risks of damage, theft, or accidents.
Future proofing
Technology is continuing to advance at a rapid pace, and the demand for smart home devices is not slowing down anytime soon. Given the market looks poised to stay with this trend, integrating smart home tech into your property can help future proof it, and make it more attractive to other potential buyers down the line. You can position your property as one to watch should it go on the market again soon. Of course, it’s worth noting that some devices may soon become obsolete and fall by the wayside to make room for new, more innovative models, so it’s worth choosing wisely.
As you can see, smart home technology can add value to your home in many ways. As well as gaining a potentially higher asking price, you can position your smart home to be secure, eco-friendly and future proofed for years to come on the housing market, which, as we know, experiences turbulence and fluctuations regularly. However, by embracing technology, you can create a modern and desirable space that appeals to any UK home buyer looking for that blend of comfort and technological convenience.
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