From speakers to refrigerators, smart home technology is becoming more and more common in the products we use. But when preparing to sell your home, which upgrades will get the most bang for your buck? This week’s Angie’s List Report helps us find out what changes are worth the investment.
In competitive housing markets, sellers are looking for any way to get an edge. Smart home technology could be just the thing to set your home apart, because today’s buyers are looking for automation and ease in their next purchase.
Angie Hicks, Co-Founder of Angie’s List, confirms that smart home updates will benefit sellers. “Although still new, early data indicates an immediate return on investment for sellers who are investing in tech-forward updates.”
How much return? A full smart home makeover might improve the home’s value by as much as 5%, according to Dan DiClerico, Home Expert and Smart Home Strategist.
“You might have to spend around $1500 on a full smart home makeover, including installation. But on a $250,000 home, the return on investment could be up around $13,000,” said DiClerico.
That $1500 price-tag would include smart locks, lighting controls, thermostat, cameras and a smoke alarm. If you want to start smaller than that, keep it simple and begin at the front of your home.
“I always tell people to start at the front door with a smart door lock. It will make that first smart impression with perspective buyers. It will also make things easier for your agent since they won’t have to worry about keys and lockboxes when showing your home,” advises DiClerico.
While this technology is often marketed as do-it-yourself friendly, it can get complicated, depending on the scale of your upgrade. Consider bringing in help with the installation to make sure it’s done right. A qualified professional can also assist with software installation and protection against hacking.
Check out more information on home improvement ROI: