While we may not have flying cars and robot maids quite yet, there’s plenty of impressive smart home technology built to make your life easier. When it comes to buying and selling homes, smart technology is more of a selling point than you might think.
Here’s our quick rundown of the latest updates that you should look for in 2019 and how smart technology might affect your buying process.
Smart Home Technology
According to a survey from CNET and Coldwell Bankers, one in four Americans already have a smart home item in their homes. In fact, almost half of all millennials own smart home technology, and 81% of buyers said that they would be more likely to buy a home if it came with smart technology.
Not only does smart home technology save you money, but it can also make you a decent profit down the road. If you’re looking to buy a smart home or want to equip your house, here are the top products to look for this year.
Surveillance cameras that upload to the cloud, motion activated flood lights, WiFi-enabled door locks—there are tons of ways to make your home more secure with smart technology. This year, the best smart home security systems include SimpliSafe, Ring Vivint Smart Home, and Nest.
If you have an iPhone, you’re probably already familiar with Siri. In the same vein, smart home technology provides an impressive array of virtual assistants that can perform a wide variety of tasks. Check the weather, listen to the news, brew your coffee on a schedule, or even order pizza!
A lot of additional things—like smart home-enabled microwaves, coffee pots, and streaming devices—just require a smart speaker for full compatibility!
Not only are smart lights eco-friendly, but they also save home-owners a decent amount of money each year (the exact amount depends, of course, on how much lighting you have in your home). The bulbs connect to your smart speaks and mobile device, so they’re both voice and phone-activated.
Smart thermostats are a highly reliable way to keep your utility costs down. The systems can often predict when you’ll be home and awake, and adjust temperatures based on those factors. This means oftentimes, the HVAC is off when the smart thermostat knows you won’t be using it. When it comes to smart home features, a thermostat is a top priority.
What Smart Home Tech Means for Buyers
We already know that 4/5 buyers would be more likely to purchase a home with smart technology—and it makes perfect sense why. On average, most smart home users say that the products save them 30 minutes every day and almost $100 every month. So what does that mean for buyers?
Shorter Buying Windows
Well, since this technology is so highly sought-after, homes that have it aren’t going to last on the market for long. Expect more offers and competitive bidding when you buy a home with smart technology.
A More Competitive Market
Additionally, smart home technology tends to attract younger buyers, millennials in particular. With more millennials entering the housing market this year than in the past, the competition for smart homes will be pretty dense.
But in the end, those resale values, time and money savings, and added convenience are well-worth navigating the ups and downs of the market. In the next few years, smart home technology will likely become one of the top priorities for buyers.