This guest post comes to us from Maricel Tabalba, a freelance contributor for Credit.com who writes about personal finance for millennials. She earned her Bachelor of Arts in English with a minor in Communication from the University of Illinois at Chicago.
From smart thermostats to automated lighting and everything in between, there's no question that innovative, Internet-enabled technology can make a home more fun, convenient and safe. What you may not know, however, is that it also represents a potentially valuable investment.
Setting up a home with automation may seem like a significant up-front cost, but considering about 80 percent of today’s home buyers
prefer to buy a home equipped with smart technology, there's good reason to consider taking the plunge. To learn more, let's dig deeper into what this technology brings to your home and how it can pay off by boosting your property value.
A Smarter, More Convenient Home
One of the most appealing aspects of home automation is its sheer versatility. With so many smart devices available, you can pick and choose individual components to build the total experience
Connect anything from lighting to the temperature and shades, and easily control it all right from a smartphone or tablet. With advanced presets and scheduling, a smart thermostat can slash your heating and cooling bills, saving money every month without sacrificing comfort. You can even invest in some invaluable peace-of-mind with a smart security system, putting everything from door and window locks to doorbells and security cameras right at your fingertips.
Smart home automation could even change the math on your mortgage - potentially giving you greater equity and lowering your loan-to-value (LTV) ratio
. Beyond any other benefits, however, the improvement in convenience and quality of life makes smart home automation a worthwhile consideration for any homeowner.
A Valuable Investment
The diverse perks you can enjoy as the owner of a smart home also make compelling selling points, should you choose to list your home or have its value appraised. Smart thermostats can bring savings of 12 to 15 percent
on heating and cooling costs, and adding a few smart lights can cut costly energy waste even further. Considering more than 80 percent
of home buyers place an emphasis on energy-efficient features, that's great news for your property value. Additionally, with more than three-quarters of people naming security among their top concerns when buying a home, a convenient and powerful smart security system is an excellent way to boost your property value without costing too much out of pocket.
Finally, implementing these high-tech features allows you to appeal to the more than 40 percent
of millennials who desire to own a home equipped with current automation technology. With millennials representing the largest and fastest-growing home buying segment
in the country, it's no wonder more and more homeowners are choosing to make tech-savvy upgrades.
How to Smarten Up Your Home
Before you add any new technology to your home, there are a few factors to consider. As we mentioned above, a smart thermostat is nearly always a good investment thanks to its broad appeal and ability to save money on your monthly utility bills. A smart security system is also a wise and versatile buy, as many smart security systems are also compatible with a wide range of other automation devices, providing a convenient all-in-one network to monitor and control various aspects of your home.
Smart lighting is a great choice as well. The convenience of remotely controlled lighting is obvious, but it offers a chance for some real savings as well. About 11 percent
of the average home's energy use can be attributed to lighting, and a significant portion of this energy is wasted by lights that are left on even when they aren't needed.
With smart lighting from companies like Control4, it’s even possible to have all of the lights in the house programmed to never exceed 80% illumination. You’ll save energy and your eyes will likely not even realize the difference.
Smart home automation is a rapidly growing field, and its appeal is only likely to grow as more people become familiar with its many advantages. If your home isn't already outfitted with smart technologies, investing in a few smart home features is an excellent way to improve your daily life as a homeowner while also enjoying a boost in your property values. Whether you start slow or jump into the deep end, it's hard to go wrong with a smarter, more efficient, more convenient home.
If you're interested in finding out how to get started in your own smart home, simply fill out the form below and we'll be in touch.