Features, options, and products are proliferating in the smart home space, and experts offer six tips on how and if homeowners can add value to their homes with more tech.
Smart home products can bring down energy costs, offer increased security, help with cooking, cleaning, and more, but to increase a home's value, Redfin experts say to "tread lightly." Agent Paul Reid, based in Boise, Idaho, says, "A homeowner who invests a lot of time and money in smart features likely takes good care of their home, and a well cared-for home is worth more. But smart technology on its own likely won’t increase a home’s value. You can spend a lot on a Nest thermostat, but the investment is unlikely to translate into an increased perceived value in the eye of a future buyer.”
“The biggest bang for your buck is in the new home market. Builders are investing in smart appliances, so be sure to ask for and take advantage of these upgrades,” said Redfin senior economist Taylor Marr. “In new construction listings, the prevalence of the word “smart” has more than doubled since 2010. In 2018, more than 6 percent of new home listings mentioned smart features, compared with 4 percent of homes for sale overall.”