Is Your Home Smart Enough To Attract a Buyer?
It’s no secret that more buyers are on the prowl for turnkey homes in today’s market. Ongoing research shows that 71 percent of buyers, in fact, are looking for move in ready conditions, and are more willing to put in offers on homes that require less work or updating. The term “updated”, however, is starting to become subjective, but while any two buyers may have different “update lists”—a list of items that they believe will need to be done once they move in, and thus subtracted from their offer price, at cost and convenience—there are ways to hit those marketing buzzwords and appeal to more buyers if your putting your home on the market.
One of these ways? Making your home smarter. Of those buyers looking for turn-key homes, 57 percent of those buyers said they would consider a home “updated”—and thus more appealing—if they have smart-home technologies and features already in place. Fifty-four percent said that if given two otherwise identical homes to place offers on, one with smart-home technology, the other without, they’d buy the smart home, and they’re willing to pay more for it.
Previously, interest in smart-home technology was primarily found in the more expensive segments in the market. Now, it’s seemingly at every price point, in both new construction and renovations, old homes and new homes.
But what makes a home “smart”? According to CNET, a smart home is a home that is equipped with network-connect products (WiFi, Bluetooth or similar protocols) for controlling, automating and optimizing functions such as temperature, lighting, security, safety or entertainment, either remotely by a phone, tablet, computer or other operating system.
In order to be categorized as a smart home, the property must have a smart security feature that either controls access or monitors the property, or a smart temperature feature, controlled over a reliable internet connection. It must also include at least two additional features below:
lighting (smart light bulbs and lighting systems)
safety (smart fire/carbon monoxide detectors and nightlights)
entertainment (smart TVs)
appliances (smart refrigerators, washers/dryers)
heating/cooling (smart HVAC, fans or vents)
outdoor (smart plant sensors, watering systems)
security (smart locks, smart alarm systems or cameras)
temperature (smart thermostats)
We’ve rounded up a few useful and appealing smart systems to help bring up your home’s IQ, whether you’re getting ready to put your home on the market or not.
Nest Home Thermostat- Nest learns what temperature you like and builds a schedule around yours. It can turn itself down when nobody is home to help you save energy. New features monitor your heating and cooling systems, sending notifications to your phone if it looks like your furnace is acting up or if it’s so cold you’re pipes might burst.
August Smart Lock – The August Smart Lock turns your phone into a key, locking and unlocking your door through the systems connectivity. While you’ll need to make sure it configures with your current deadbolt system, and shell out $199, a smart lock could be an attractive feature to any home.
SkyBell HD Wi-Fi Video Doorbell System – This smart video doorbell lets you see, hear and talk to the visitor at your door, whether you’re home or not. SkyBell sends your alerts, snaps photos and records video.
Samsung Family Hub Refrigerator – This connected fridge lets you view notes, schedules, order groceries, play music and even watch video. The cameras inside will take photos of the refrigerators contents and e-mail them to you when you’re at the grocery store – in case you were wondering if you were out of ice cream.