Does “Smart” Really Matter?
Posted On: Apr 12, 2017
Today, a homeowner can control pretty much anything from a smartphone. Whether it’s the lights, TV, HVAC, surveillance system, or even the oven, technology has made it possible for a homeowner to control virtually everything from a smartphone. But the real question is: will a home that is equipped to handle all those capabilities be appraised higher than one that’s solid, but low-tech?
Consider the technology
The majority of remote-controlled features in a home are not built into the home’s electrical system. Most often a seller will pack up these “personal possessions” and relocate them to their new home. Features, such as an advanced security system that is hardwired, may increase value slightly and help attract buyers.
Is the home tech-ready?
A home may be stripped of the smart systems, but may still be tech-ready. This means that certain design features in a home will make it easier for a new owner to install a smart system of their own. This may influence the appraised value slightly and definitely serve as motivation to certain tech-savvy buyers.
The cycle of technology
Doesn’t it seem that as soon as you purchase the latest iPhone, a newer version is released? The same proves true with smart home systems. Technology brands are constantly evolving and modifying their systems to try and stay ahead of the curve. Home buyers and inspectors are likely to pay little attention to the amount of money it cost a buyer to install a system when they know they will need to upgrade a system to keep up with new changes.
Even if homes are not tech-ready, it is amazing what you can now do with a simple iPad or smartphone. Ten years ago, homes equipped with intercom systems were cool, but now with smartphones in almost every pocket, this technology is almost useless. Kitchens with built-in touch screen computers used to be a luxury feature, but now it is an unnecessary use of space when you consider the capabilities and flexibility of a tablet.
The general consensus of most inspectors is that smart features influence seller motivation more than affect the actual monetary value of a home. Although a seller may not see a dramatic increase in their home value after installing fancy bells and whistles, it may dramatically affect the time their home will sit on the market.