Smart home: any type of residence that implements technological devices that allow homeowners to control appliances or devices remotely via smartphone/internet connection.
The advantages of smart homes far outweigh any other option—integrated automation of your home provides more security, flexibility, convenience, and functionality. Smart home features connected technology that can seamlessly be controlled by a touch from your smartphone. In modern-day society, the internet can be used to automate various home features including but not limited to:
In such a tech-centered society, people are moving away from traditional home amenities and are for an upgrade. A survey done by Coldwell Banker & T3 Sixty shows that 82% of real estate agents believe that smart home tech facilitates a home sale. This survey also revealed that 78.8% of agents and brokers believe that buyers are open to paying more for smart homes. Smart homes are embraced by buyers, sellers, and brokers as advanced technology can push a home’s value and lead to quicker closing.
Investors are taking advantage of smart home technology because they see how valuable it is in attracting renters/buyers. The global home market is estimated to advance at a compound annual growth rate of 21% from 2019-2025. This forecast shows that smart properties are not a fad in the market, rather, they are the beginning of standard expectations.
Although newer technology is generally adopted by younger generations, older groups are not shying away from this trend. Just like Millennials and Gen Z, older demographics of homeowners and buyers are embracing smart home products. The intuitive setup of most devices allows anyone with a smartphone to take advantage of the convenience and connectivity it offers.
Smart devices may require homeowners to spend more, but the return on investment makes it well worth it. Smart tech will save you time, money, and energy. Smart thermostats and their ability to adjust temperature settings can slash utility bills by 23% annually. Smart devices are generally easy to install compared to traditional gear, saving homeowners on installation costs. Some insurance firms even offer discounts on homeowner insurance to those who utilize qualifying smart home devices.
Not only does smart home tech make life exponentially more convenient, but it also has the power to improve health. Advanced air and water filtration vents are rising to be one of the most popular smart home devices. This type of technology is cost-effective, purifies, and even notifies smartphones about your home’s air/water quality.
Last but not least, the most popular benefit of a smart home is family safety. Most homeowners will list security as their number one priority, and smart devices provide the perfect solution. The available smart security technology seems endless. Smart home devices protect your home and belongings against fire, water, and smoke damage. Certain video monitoring devices also use motion detection to keep an eye on who enters and leaves your property. Most importantly, there are a variety of smart locks that use advanced technology to keep your home safe. Even just having one smart home device can exponentially make your home much more secure.
