Ever since the subprime mortgage crisis in the United States kicked off the global financial crisis in 2008, house prices have been struggling. Admittedly, if you live in a luxurious penthouse apartment in central London, Paris, New York, or Tokyo, you probably won't worry, but for people who live in normal suburban homes in middle-of-the-road cities. There's still a lot to worry about.
Of course, you can find plenty of advice online on how to maximize the value of your home; put some paint on it and tidy up the garden to start. However, UK research by Barclays Mortgages found that 28 per cent of people would be willing to pay more than £3,000 more for a home that came equipped with smart technology.
So in this article we take a look at the smart technology you should install that will allow you to add those extra few thousand dollars to your selling price.
A well-maintained garden can make a big difference in the “curb appeal” of your property. Unfortunately, not everyone has green fingers, and even the cleanest street garden can quickly start to resemble an overgrown forest if not cared for properly.
Smart Water Sprinklers 5 Smart Devices to Help Manage Your Garden 5 Smart Devices to Help Manage Your Garden Turns out, a smart garden is entirely possible, thanks to the devices we're going to be looking at today. Therefore, Read More can make your property more attractive to gardeners, as well as save the prospective buyer a great deal of money on their water bill.
Research by Rachio (a sprinkler manufacturer) says that installing their sprinklers will save 30 percent of outdoor water use, with some users reporting savings of over 65 percent.
That's a massive selling point.
Another money saving addition to your property is smart lighting.
Energy Star states that lighting accounts for about 60 percent of your annual electricity bill, about $264 in an average American home. Estimates suggest that an effective smart lighting system, which can brighten and dim lights according to conditions, can save up to 60 percent on lighting costs.
There are also the added security benefits, as a prospective buyer can control the lighting when they are away from home to make it look like someone is in.
Solar America estimates that installing solar panels can save homeowners more than $1,500 per year on their utility bills, while the US Department of Energy found that adding solar panels could add up to $15,000 to the value of a home. your home.
It's a similar story in the UK, where government analysis showed that adding solar panels to a home would add an average of £16,000 to value, and up to £25,000 in the North East.
Of course, there are many more advantages to adding solar panels to your property. Check out our article on the topic 6 Advantages of Solar Panels You Probably Haven't Considered 6 Advantages of Solar Panels You Probably Haven't Considered Solar power is becoming more common Among middle class consumers, more and more people are taking notice of the advantages of solar panels. Read more !
The aforementioned Barclays survey specifically named smart thermostats as one of the biggest selling points for prospective buyers, and it's not hard to see why.
They take the guesswork out of trying to figure out the optimal time to turn your central heating on/off and determining what temperature to set it to by automating everything.
Arguably the most popular smart thermostat Looking to buy a smart thermostat? 5 nest alternatives looking to buy a smart thermostat? 5 Nest Alternatives When it comes to controlling the temperature in your home, the Nest Smart Thermostat is king, but there are plenty of options out there. Here are 5 to consider if you're looking to buy. Read More The initial system will set you back a not insignificant $250, but thereafter your projected annual savings on your heating bill is $173.
All homes should have smoke detectors installed, but let's be honest, they can be annoying. If you burn their toast or leave dinner in the oven for too long, they can quickly start crying, leading many owners to disable them altogether.
Unfortunately, that's one of the worst things you can do:A 2014 CBS news report claimed that two-thirds of all home fire deaths occurred in residences where smoke detectors were missing or had been disabled. .
Disabling it could also invalidate your home insurance. Insurance companies will typically reduce your premiums by about 5 percent if you have a smoke detector installed, so if your property burns down and they can prove your detector didn't work, they won't pay.
Smart smoke detectors eliminate all of these problems. Its ability to monitor smoke levels. 6 Smart Indoor Air Quality Monitors You Should Buy for Your Home. 6 Smart Indoor Air Quality Monitors You Should Buy for Your Home. The quality of the air we breathe is very important for our health and quality of life. Six smart air quality monitors help ensure the air in your home is as safe as possible. Read More
As with any form of selling, it's important to know your market. Note that the much-discussed millennial generation is beginning to enter the housing market en masse for the first time, with the oldest members of the generation now turning 30.
This is the first generation that has grown up with computers and the Internet in their homes. They are used to interacting with technology in every facet of their lives and despise more analog devices. Smart home technology is a great way to make your home more attractive to this generation.
On the other hand, it could potentially make it less appealing to older, more tech-averse generations. The aforementioned Barclays survey also found that 58 percent of people said smart home networks could allow burglars to find where no one is in the house.
As long as you take the proper security measures 5 Security Concerns To Consider When Building Your Smart Home 5 Security Concerns To Consider When Building Your Smart Home Many people try to connect as many aspects of their lives to the web, but many people have expressed genuine concerns about how safe these automated living spaces are. Read More
Have you installed any technology that you hope will allow you to increase the value of your property? Maybe you have some other killer tips for your fellow readers?
Whatever your situation, we'd love to hear it. You can let us know your thoughts and feedback in the comments section below.
