With the increasing popularity of voice activated personal assistance devices such as the Amazon Echo or Google Home, many more homeowners are installing smart features. In addition to offering various conveniences throughout the home, these devices can also aid in saving money while also keeping the home more secure & energy efficient. Items such as thermostats, lighting, and even appliances can now be connected to these smart devices.
In the real estate market, more and more home buyers are looking for smart home features and in some cases there is even a certain level of expectation. In South Florida, many home buyers want to know if a home has these technological advances just as much as whether the home has storm protection.
What makes a home a “smart home”?
Technically, a property is “smart” if it has an internet connection and at least 3 “smart” items. Given the fact that this is a very low bar, it is estimated that 33% of U.S. homes are considered smart by these standards. For starters, the home will need to have a strong & reliable WIFI network. Since any smart devices will rely on WIFI, it is critical for homeowners to invest in the property equipment to ensure WIFI coverage throughout the property. Keep in mind, since smart security cameras located outdoors will also need a signal, you must ensure that your network covers the exterior of the property as well.
How popular are smart homes?
As stated above, approximately 33% of U.S. homes qualify to be called smart homes today. This number is expected to grow to 54% by 2023. As for the breakdown by demographics, they are as follows:
- Baby boomers: 26%
- Generation X: 49%
- Millennials: 77%
Homeowners should consider implementing smart home technologies in their properties. In addition to adding many conveniences, these capabilities are also important for resale value. Moving forward, these features will become more and more expected from home buyers and could potentially be a deciding factor in moving forward with purchasing your property or not. With more sophisticated home automation systems such as Control4, Crestron, & Savant, the possibilities are truly endless.
At Live South Florida Realty, Inc. we have assisted many clients with their real estate needs. Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. Live South Florida Realty, Inc., has been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!