We all know the Internet isn’t going
anywhere. And while many people find being connected through a variety of
devices appealing, we have yet to see the monetary value a souped-up smart home
can bring sellers. The industry for smart homes is reported to reach $71
billion by 2018, driven mostly by entertainment systems, although smart
appliances will pay a big role too.
What exactly is a smart home? Well, like
the smart phones that seem to do just about everything, smart homes are in the
same vein. A smart home is defined as a one that’s equipped with lighting,
heating, and electronic devices that can all be controlled remotely by phone or
The industry has grown so fast; however,
that it’s hard to quantify exactly how much this kind of technology plays a
part in the real estate market. Homebuyers who find such technology important
are more likely to have enough cash to install their own devices. The relative
newness of this wired-home world means appraisers don’t have much to go on when
determining connectivity’s added value.
Since the particular sector of homes is so
new, industry experts tend to believe that while connectivity can add to the
desirability of a home for some prospective buyers – making it a good marketing
tool – it remains an uncertain investment that may be hard to quantify until
there’s more data. Real estate agents caution buyers to consider connectivity’s
practical value, and not actual cost. In other words, what features will you
really use, and do you care about tweeting from your fridge? If your home is wired up for connectivity,
the key is to make sure the technology is easy to use. Especially if you
consider yourself tech-savvy – what may be push-button easy to you may end up
being a nightmare for a buyer who’s not as connected.
Author:Ken Blevins Phone: 720-255-7242 Dated: July 21st 2014 Views: 920 About Ken: Ken Blevins, Chief Executive Officer of Metrowest Real Estate Services, is a veteran in mortgage and...
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