Typically, when a homeowner invests in upgrades, like new windows or new floors, it is easy enough for them to do some calculations to determine what their ROI would be if they decided to sell. Is the same true, though, in regards to smart home technology updates? Adding additional rooms is sure to add value to a home, but what about adding a smart ceiling fan? If you upgrade a kitchen, and that upgrade includes smart home features, does it add any additional value to the upgrade? Honestly, smart home technology is still too new to really be able to tell if it will provide a pay off during a sale, but it’s worth taking a look at the pros and cons of selling a smart home -enhanced home since this is a technology that is transforming, and will continue to transform, our lives.
Pros of Putting Your Smart House on the Market
The golden egg in real estate is curb appeal, but what if you can have tech appeal? If you have smart home devices already installed, you can have some built-in enhancement for your home’s appeal. It’s too soon to say if that appeal will translate directly into dollar signs, but it can’t hurt to be at the top of a buyer’s list. If you have the coolest house, buyer’s might be quicker to make an offer, or they might even choose your house over another on their list. So, even if you don’t necessarily get more money, you might get your house sold faster, and we all know that is invaluable.
No matter which generation your potential buyers are from, smart home tech could help you. If you are showing to a younger generation they might be very interested and impressed with the upgrades. Since they are a techy generation already, they will likely be expecting technology to be integrated into their home.
If you are showing to an older generation, they might be happy to see that all the grunt work is already done for them. There are a lot of people out there that are interested in smart home technology, but don’t want to put in the work. If it’s already done for them, they might be ready to sign all the paperwork.
Having smart home security cameras, energy monitoring tech, and money-saving devices already installed can definitely work toward increasing the perceived value of your home since they can help make the buyer feel good about their purchase.
Cons of Putting Your Smart House on the Market
Having a house on the market that is smart is also a risk. First, and most obvious, what if your potential buyer just isn’t tech savvy? A smart house will seem complicated and foreign to them, and could be the reason they walk away.
Technology also changes so fast that any big tech purchase becomes a risk. You may upgrade now, but not sell for another three or five years. By then, smart home tech will have advanced so much that you might need to replace everything before you try to sell. If you don’t, then the buyer might add up how much it will cost them to upgrade everything and get scared.
The other risk is that if you use a device or devices that aren’t compatible with the buyer’s a lot of the tech can become obsolete. If a smart house can’t communicate, it can’t operate.