Last Updated on September 9, 2019 by hortonteam
We live in an ever-evolving technological world, and now these technologies are moving from the commercial space and into our homes. Fortunately for you home sellers out there, there are plenty of smart home upgrades that will help home buyers choose your home over another!
Are Smart Home Upgrades Worth Installing?
Many home sellers in Newburgh aren’t sure which items or upgrades to install in order to boost their chances of selling their home and putting the most money in their pockets. Unfortunately, most smart home upgrades won’t drastically increase your home’s value like installing new carpet or a new roof would do. However, these types of upgrades are a great way to boost your home’s attractiveness and saleability without spending too much of your own money. As homes continue to become more modernized, prospective home buyers desire and expect that their next house purchase will include several smart home upgrades that come pre-installed with the home. A major real estate company recently released the results from a 2018 survey detailing the desire for such upgrades. The survey showed that 32% of American homes already have these types of technological upgrades installed, which makes sense with the growing trend of smart technology inclusion at the consumer level. Even more remarkable are the reported percentages of which specific items these surveyed buyers would like to find in their home searches.
What Smart Home Upgrades are Buyers Looking for?
According to the survey mentioned above, there are several smart home upgrades that buyers would like to see in the homes they purchase. The highest scoring device was a smart thermostat, in which 77% of surveyors responded that they would prefer to have one pre-installed in the home. The other two upgrades that eclipsed the 70% mark were smart fire and carbon monoxide detectors, which finished at 75% and 70% respectively. The survey rounded out with smart security cameras (66%), smart locks (63%), and smart lights (63%) all hovering around the 2/3 response rate. If you still aren’t sure about adding smart home upgrades to your house before selling, surely these numbers will make you reconsider. Even though anywhere from 60-70 percent of buyers are looking for these types of technologies, only one in three homes has smart devices pre-installed. If you’re worried about your home taking a while to sell, take advantage of that discrepancy—an updated smart home is sure to attract some buyers!
How Much Do Smart Home Upgrades Cost?
Like we mentioned before, you’ll find that most smart home upgrades are relatively inexpensive when compared to the cost of adding other major updates to your home. For a smart thermostat, the highest desired device on the survey referenced above, you can find high-quality products between $200 and $300 from reputable brands like Nest or Ecobee. When you start looking for some of the other products mentioned, like smart doorbells or smart locks, your options open up a little bit more. There are several prominent brands for these types of devices, and you can expect to pay no more than a few hundred dollars at most. Depending on your selling situation, you may even be able to save additional money. If you aren’t planning on selling for another year or so, investing in a smart thermostat can help lower your monthly utility bill, especially in the hottest and coldest months of the year. The best part about these smart home upgrades is that you can install most if not all of them yourself without the help of a hired professional, and you can probably finish the task in an afternoon.
What Other Smart Devices Can I Install in My Home?
Although you’ve probably heard of some of the most common smart devices you can install in your home, there are plenty on the market you may not be familiar with. Here is a short list of some of the popular smart devices you can find:
- security cameras
- lights (inside and outside)
- smoke detectors
- carbon monoxide detectors
- door locks
- speakers and surround sound systems
Still looking for something to set your house apart from the market? Check out some of these devices that you probably didn’t know existed!
When it comes down to it, the most important factor in selling your home is presenting a product that prospective home buyers want to buy. With smart home technology advancing at an incredible rate and more and more buyers desiring these items in their new homes, this is one set of updates you can’t afford to hold out on!