Sellers looking to upgrade their home before putting it on the market may be wise to install smart home technology.
According to a new survey from Coldwell Banker, 54% of survey respondents would choose the home with smart technology when faced with two houses that are exactly the same, and 26% believe the technology is a major selling point.
What Is Smart Home Technology?
It’s a home equipped with lighting, heating, and electronic devices that can be controlled remotely by phone or computer. A smart home must have a reliable internet connection and one of two base “smart” systems:
- Security features that control access via smart locks or monitors the home through, say, networked security cameras
- Smart temperature controls.
Additionally, a property must have two other systems from the following list to qualify as a smart home:
- Appliances (smart refrigerators and smart washer / dryers)
- Entertainment (smart TVs and TV streaming services)
- Heating / Cooling (smart HVAC system, smart fans or vents)
- Lighting (smart light bulbs and lighting systems)
- Outdoors (smart plant sensors and watering systems)
- Safety (smart fire / carbon monoxide detectors and nightlights)
What kind of smart home tech are buyers looking for?
To start, mobile control is a necessity for these tech-focused homeowners, with 62 percent of real estate agents finding buyers were interested in controlling home tech through their smartphones. The interest in mobile control aligns with an August study conducted by Coldwell Banker Real Estate and CNET, which confirms that 76 percent of consumers with smart home products control them from a mobile device.
As more millennials enter the housing market, smart-home technology features will add value to your home and increase the chances of buyers choosing your home instead of your competition.