Smart Home Technology has been rapidly transitioning from a futuristic luxury to a more mainstream fundamental in the real estate market. Beyond convenience and comfort these innovations are able to provide security, cost savings and are making an impact on the real estate market. With buyers looking for these types of upgrades and sellers increasing attention to them. How is Smart Home Technology shaping real estate trends, enhancing property values and influencing the buying and selling process? Let's get into it! 

A growing trend driven home by primarily the Millenial and Gen Z demographics, due to their prioritization of convenience, energy efficiency and security. The ability to control a home's features through voice activation and smartphone apps is increasingly in demand, for things like lights, thermostats and security systems. It is no secret that smart homes are more energy efficient. Set the thermostat to a specific temperature and never have to worry about the furnace or air conditioner running too long. Appealing to those buyers seeking long term savings and environmental awareness. Smart home appliances are becoming increasingly popular with their offerings of cost savings and environmental awareness. With temperature regulation, water conservation and  automatic power down modes for things like microwaves, dishwashers, and televisions to promote lower energy consumption when not in use. As Smart Homes become the standard buyers are viewing these things as essential rather than optional. Homes with these features are commanding premium prices while in certain markets. 

Not only does a Smart Home appear more beneficial in a buyer's eyes but these upgrades and features can actually increase your home's appraised value. Homes with energy efficient windows and doors or solar panels can opt for added value when getting an appraisal done on your home. While individual devices may not add a whole lot of value to a home due to their mainstream popularity, a more comprehensive smart home system such as integrated lighting, security system and climate control can be seen as a value added feature in the same way that a kitchen or bathroom might be. As Smart Home Technology has evolved so has the real estate marketing to promote it. Showcasing “Smart Home Tours” to demonstrate to prospective buyers how this technology works and the value that it comes with. Smart Home Certifications or Badges are also becoming an asset to helping these homes stand out from the competition. Having these sorts of marketing working for you and your home can help to catch the eye of that tech-savvy buyer that is interested in owning a home that possesses these features. 

Smart Home Technology is no longer a fancy futuristic idea, it is becoming a selling point that increases value in many of the homes that are utilizing this type of advancement. Is it crucial that you as a homeowner run and integrate this technology into your home? No!! But next time you go to upgrade, consider the long term benefits of choosing a Smart Home option even beyond your time living in the home!