Buying and Selling Real Estate Blog
Selling Unique BC Properties
Smart Home - Will it help the sale of your home?
Can Smart-Home Products Increase Resale Value?
Smart homes are growing in popularity in Canada. One in six Canadians have embraced the trend and have smart devices in their homes, NPD reports. Although smart technology isn’t cheap, it’s decreasing in price and becoming more easily accessible thanks to products like Nest and Amazon Alexa. If you’re considering embracing smart technology in your home, you’ll also be wondering how much of a good investment it actually is. While it can be difficult to assess the exact return on investment, smart products are known to boost home value, appeal to tech-savvy buyers and result in quicker sales.
The best smart devices for your home
You don’t necessarily have to splash out on large scale amenities like a Control 4, whole-house automated system — although for $15,000, you’re likely to see a return on it. Some pieces of smart technology, however, facilitate quicker sales while being relatively inexpensive. For example, a smart thermostat costs around $200 and appeals to buyers for its money- and time-saving benefits. Smart thermostats allow the homeowner to adjust the temperature remotely, and therefore control the cost, from any location via laptop or smartphone. If you want to immediately impress buyers, consider installing a smart lock or doorbell on your front door. These devices strengthen security and allow entry to the house via a number system or fingerprint ID — which also eliminates the need for keys.
Helpful tips for purchasing smart devices
Stick with popular brands people already know and trust (such as Apple, Google or Samsung) rather than buying from unknown manufacturers. You therefore won’t need to do as much explaining if a buyer is already familiar with a product. It’s good courtesy to pass on the user manuals to help buyers operate devices correctly — especially with connected devices which appear more complex. Be sure to fully reset your devices before you leave your home in order to protect your data and security.
Ultimately, since smart home features are relatively new, many buyers may simply not be familiar with their benefits — let alone how to use them. So, before making a purchase decision, you’ll need to research smart products within your price range, how to use them, and what they can save in terms of money, time, or energy. You’ll then be equipped to talk about smart technology with prospective buyers, sell them on the benefits and ease-of-use, and therefore derive maximum value from your investment.