For New York and Connecticut homeowners, not only do smart home features help make your lives easier and more convenient, but they can also increase your home’s value when it comes to selling. Recently, the Forbes Real Estate Council singled out smart home tech as “one of the most desirable qualities in a home on the market.” Savvy buyers are looking for it during their home buying evaluation and oftentimes are willing to pay more to acquire a property with smart home automation.
Is it Worth the Investment to Work with A Home Automation Company?
Whether you’re considering the return on the investment (ROI) of a kitchen upgrade, bathroom remodel, or smart home automation solutions, you want to yield a greater ROI regardless of how you invest your time and money.
The average cost to automate a house can range significantly depending on which technology enhancements you select. Our best advice is to start the process by talking with a home automation installer as they’ll be able to quickly give you a range of options, as well as estimate costs, so that you can make a more informed decision and calculate potential ROI.
Buyers are increasingly attracted to the convenience, comfort, and efficiency that smart homes offer, and they are willing to pay a premium for these features. If upgraded and marketed correctly, smart home investments can result in buyers spending 3% to 5% more on a property to avoid installing these devices post-purchase.
Features Home Automation Companies Provide
Investing in home automation features can potentially increase the value of your New York or Connecticut home, but the extent of the impact will depend on various factors, including the specific features you install, the overall market demand, and the preferences of potential buyers.
With so many advances in technology, homeowners have a number of home automation devices to select from, but those with the greatest return on investment are most likely those that reduce homeowners’ energy spending and those that provide home security. For example, smart thermostats allow owners to cut back on their heating and cooling usage, shrinking bills by upwards of 30%, per a study from the American Council for an Energy-Efficient Economy, making climate control devices highly appealing to potential buyers.
According to a survey conducted by the National Council for Home Safety and Security, homes with a security system have a higher resale value than those without. In fact, the survey found that homes with security systems sold for an average of 3.5% more than those without.
That said, there are plenty of smart home automation features beyond those energy-saving and security options that could appeal to specific homebuyers. For instance,you can create a dedicated home theater tailored to create a personalized and immersive home theater experience, or have a professional media room installation that includes an integrated control system.
When deciding where to invest in your home, here are additional considerations to discuss with a home automation company so that they can help you select the right technologies:
- Energy Efficiency: Smart home technologies, such as programmable thermostats and smart lighting, can help homeowners reduce energy consumption and lower utility bills. Buyers may be willing to pay more for a home with these features, especially if they see the potential cost savings.
- Convenience: Home automation can make daily life more convenient. Features like remote-controlled door locks, video doorbells, and voice-controlled appliances can be appealing to buyers who value convenience and security.
- Customization: The ability to customize and personalize the home automation system to meet individual preferences can add value. A well-integrated system that is easy to use and adapts to the homeowner’s lifestyle can be a selling point.
- Market Trends: The New York and Connecticut real estate markets and buyer preferences vary by location and time. In some areas, smart home features might be in high demand and add substantial value, while in others, they may not have as much impact.
- Smart Home Installation Quality: The quality of the installation and integration of the home automation features matters. A professionally installed and well-maintained system by a home automation company is more likely to add value than a haphazard DIY installation.
- Documentation and Marketing: When selling your home, it’s essential to highlight the home automation features in your marketing materials. Explain the benefits and potential cost savings to potential buyers.
- Compatibility: Ensure that the smart devices and systems you install are compatible with popular platforms and protocols (e.g., Amazon Alexa, Google Assistant, etc.). Compatibility can make your home more attractive to a broader range of buyers.
Get a Quote from Home Automation Companies Near You
Ultimately, whether investing in home automation features increases the value of your home depends on the local NY or CT real estate market and the preferences of potential buyers. It’s a good idea to start by researching local market trends and consulting with real estate and home automation professionals to make informed decisions about which home automation features to install and how they might impact your home’s value.
By working with a smart home solutions provider, we can help you choose devices from reputable manufacturers, prioritize security features, and understand the privacy implications associated with these technologies.
For over a decade, Lifetronic Systems has been designing and installing custom smart home technology systems for homeowners, builders and businesses throughout Connecticut, New York and beyond. We seamlessly integrate cutting-edge home automation, entertainment, lighting, security, communication and networking systems to enhance the lives of our clients.
