Simple Upgrades for a Smart Home
There are options galore to create a ‘smart home’. From the simplest of changes such as an energy-intelligent thermostat to fully automated features connected to voice technologies (e.g. “Alexa”). On the surface, a $1,000 to add smart home technology sounds like splurge spending. How many of us want to spend a $1,000 on some technology that we may never use but hope it will help increase the value of our home?
Upgrades can Create Increased Value when Selling a Home
Consumer Reports did a ‘smart home’ study demonstrates that investing in smart home capabilities does create increased value when selling a home. The article favors simple devices such as thermostats and smoke detectors. But, it also points out that features such as the video doorbell create buyer appeal. In our business, as real estate investors renovating homes, we always update smoke detectors. Mainly because we’re required to make this change to support local code compliance. But anyone using a non-conventional loan to purchase a home will want to know that the house is been maintained for safety. Smoke detectors are a simple change that gives a buyer a sense of confidence about the home. The article has a good number of updates to consider and, as the title says, they can be done for $1,000 or less.
But Consider the Sizzle Feature
The concept of a smart home was initially thought to be a fad. But, there are updates that make sense if you are planning to sell your home. Buyers are looking for design concepts that make the home attractive. On top of this, once they look past the countertops and the floor styles, buyers want to see features that differentiate the house. Simple additions such as a video doorbell were once thought to be a ‘sizzle’ feature but are becoming an expectation. Especially in upper-end homes. Integrated systems such as a tablet in the kitchen that is connected to the home audio, doorbell and security system all lend to differentiating the house. So, if you’re thinking about spending a few dollars more – consider the updates that end up working together. Not just one big ‘wow, that’s cool’ feature.