Around the world, the demand for smart homes generates more than $79 billion worth of revenue every single year.
On top of that, the smart home market is growing at an incredible rate of more than 25% every year. Experts expect that this will continue at least until 2027 when the market will be worth more than $313 billion!
Considering how fast the smart home technology market is growing, you would expect it to provide impressive benefits. This is true, but most people do not even think through all of the different benefits that smart home tech can provide.
Most people focus on the convenience of smart home tech, but getting a smart home is also the perfect way to increase the value of your property. So what is so great about smart home technology, and how can it contribute to higher home values?
Read on to learn all about the biggest reasons smart home tech can increase the value of your home!
What Is Smart Home Technology?
Smart home technology refers to a number of different devices. However, what they all share in common is that they help automate processes around your home or allow you to control them more easily.
For example, smart lights turn off and on when you want them to. Some smart home technology allows you to use voice activation to activate speakers, security systems, and more.
Why Is a Smart Home Worth More?
There are a couple of reasons that houses with smart home technology are worth more. The first is that smart home technology helps lower expenses. We will discuss some of these specific ways it can do this below.
However, the essential point is that homes that automatically help keep expenses low are worth more to home buyers. That is true no matter how much they enjoy the convenience of smart home technology.
However many people are also attracted to the idea of moving into a home that takes care of so many processes for them. So what are some examples of smart home technology that can increase the value of your home?
Smart Home Thermostats Lower Expenses
Smart home thermostats allow you to program your HVAC system. There are an incredible number of applications of this essential technology.
For example, you can sit down and figure out which rooms in your home you do not use at night. Then, you can program a smart thermostat not to heat up or cool down those rooms at night time.
That means that your HVAC system will use less total energy to keep your home at a comfortable temperature. As valuable as that is in general, it is even more attractive today because so many people are struggling with increasing energy prices.
This kind of programming will also mean that your HVAC system has less total work to do. That will allow it to take more frequent breaks. In the long run, that will help extend its lifespan and prevent maintenance issues that require expensive repairs.
You can also program your thermostat not to heat or cool certain rooms that no one uses during the day. All of this can help you cut your own costs while also decreasing your energy consumption.
That will decrease your carbon footprint as well. It will also help ameliorate the energy crisis so many countries are facing.
Improve Security With a Smart Doorbell
Smart doorbells are often motion activated. They can detect when people or animals are in front of your home and start recording them. Some smart doorbells can even be programmed to follow moving objects.
You can also combine your smart doorbell with an app on your phone so that you can see through the camera whenever you want. You can find smart doorbells that let you speak to people in front of them even when you are away from home.
All of this can help you record any would-be criminals. At the same time, most criminals will avoid getting too close to homes with apparent recording devices like smart doorbells. This improves security for your home, which also increases its value.
Enjoy a Home Upgrade With Smart Lights
You can also cut costs by programming smart lights to turn off when nobody needs them. You can even program them to be motion sensitive so that they turn themselves off when no one is in the room.
Another great application of smart lights is having them turn on gradually in the morning. This can imitate a sunrise and help your body acclimate to the new day.
Invest in Smart Speakers
You can use your voice to activate smart speakers and play music anywhere in your home at any time. You can also program them to play automatic tracks at certain times of day when you want.
For example, you can have your speakers wake you up in the morning with gentle music.
Enjoy the Convenience of Virtual Assistants
Virtual assistants allow you to give instructions to your smart home technology. They can also perform tasks like ordering food or products online.
If you are showing your home to potential buyers, showing off everything you can do with your virtual assistant can be the perfect way to show how much value smart home technology can add.
Enjoy a Higher Property Value With Smart Home Technology
Smart home technology is a great way to enjoy your home today and get a higher price for it when the day comes to sell it. Learning more about smart home technology can help you appreciate why people value it so much when they are looking for a home to buy. In the meanwhile, you can enjoy cost savings and convenience with smart home technology.
To learn more about all of the benefits you can enjoy with smart home tech, reach out and get in touch with us here at any time!