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Key considerations to keep in mind when selling or buying a smart home

BY Allconnect | Wed Apr 22, 2015
Key considerations to keep in mind when selling or buying a smart home

Homeowners, builders and designers have all begun to take the Internet of Things a bit more seriously. That’s because the technology is evolving and catching on with more potential homebuyers. As a result, the appeal of smart home functionality is quickly becoming a key factor in negotiating the sale of a home.

Those moving into a new home may find it well worth the extra investment to enjoy an automated experience from the very beginning. Likewise, those selling a fully automated house can leverage their home’s futuristic improvements as one of many reasons to bump up the asking price. Keep these thoughts in mind whether you are a home buyer evaluating smart homes for purchase or an experienced do-it-yourselfer considering ways to get the most value for your IoT-enhanced property.

“There is a significant push for automated features among home buyers.”

Smart home sellers enjoy a growing niche of buyers
Each new year brings with it more refined smart home technology and, subsequently, more homeowners willing to invest in the automated experience. According to the Houston Business Journal, this trend is so pervasive that many home builders have already begun adapting the designs of their model homes to account for families making greater use of smart household technology in the near future.

Likewise, the a recent survey of real estate experts performed by Coldwell Banker noted that there is a significant push for automated features among customers. A third of real estate agents emphasized that smart homes get sold more quickly than their less technologically capable counterparts.

This trend represents an opportunity for homeowners to begin making their home as appealing as possible for resale. Focusing home improvement efforts on automated solutions not only simplifies the home’s operations but also helps to make the interior more attractive to a prospective buyer. Working around this trend is also smart because, if the trend continues, homes without automation could eventually become harder to sell.

Highlight your investments when showing the home
There are two important factors to keep in mind when showing off your home to a new buyer. First and foremost, recognize the value of all the work you put into turning your home into an automated paradise. Don’t forget to demonstrate to potential buyers how your home’s automated technology functions. Seeing the convenience of your IoT-capable household in action may be enough to make a family comfortable enough to purchase your smart home.

Be sure to take note of which pieces of automated technology you showed off to new potential buyers. A new family will feel miffed if IoT gear showcased during the visit is missing when they move into your old home. You’ll need to make sure home buyers to ensure they get a fair look at what they’re buying when they tour your automated home. Some pieces of automated technology, such as wireless plugs, are easy to replace or remove during a home visit. For instance, you may want to consider packing away an expensive smart home hub devices before visitors arrive if you’d like to keep the technology for deployment in your next home.

Home automation changes the game for buyers and sellers alike.Home automation changes the game for buyers and sellers alike.

Buying smart lets you avoid the legwork
The advantages of a smart home, including the ability to network multiple devices in your house via your high speed Internet connection, has lead many families to put in the DIY work necessary to automate their household. Homebuyers intrigued by this technology trend but less interested in the installation process have an opportunity to have their Internet of Things-capable cake and eat it too by shopping around for a home that’s already automation-ready.

An important thing to keep in mind when employing this strategy is stay flexible about your expectations. You likely won’t find your exact specifications as the home’s previous owner automated the home to meet their tastes. Purchasing a home with existing IoT installations, however, will save save you hours of work and allow you to enjoy a highly efficient, intelligent household.

When viewing a smart home there are a few pieces of basic IoT technology that you can expect to see installed frequently. According to CBS News, automated thermostats and smart locks, for example, are among the most popular examples of of Internet of Things gear integrated into the household – the ability to control these items through a smartphone app makes home security and temperature monitoring more accessible than ever before. You should also keep your eye out for smart kitchen appliances. The many conveniences delivered by these high-end pieces of technology are well worth the investment.

Don’t forget to ask about security
As always, it’s important to do your due diligence as a consumer when shopping around for a smart home. Be sure to discuss important issues like security features and system efficiency with the home’s current owners before signing a lease. Because home automation makes use of devices that access the Internet through the router provided by your cable provider, securing IoT devices against intrusion is just as important as protecting your home PC or smartphone. Make sure to ask about firewalls or encryption strategies to keep the network secure.

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