Smart home technology and smart home security systems have become increasingly popular in recent years as homeowners and renters look for ways to improve their living spaces. One question that often arises is whether investing in these technologies can increase the value of a property. This article will examine this question in-depth and provide data-backed insights on the topic.
Perceived Value: Smart Home Technology a Must-Have for Home Buyers and Renters
According to a report by SafeWise, a home security and safety advocacy website, 63% of home buyers in the United States say that a home equipped with smart home technology is a must-have feature when purchasing a home. Additionally, 44% of renters said they would pay more to live in a property with smart home features. These numbers suggest that having smart home technology can increase the perceived value of a property and make it more attractive to potential buyers or renters.
Increase in Value: Smart Home Technology Can Increase a Property's Value by up to 5%
Another report by Alarms.org found that smart home technology can increase a property's value by up to 5%. This translates to an increase in value of around $15,000 for a $300,000 property. The report also found that properties equipped with smart home technology tend to sell faster than those without, indicating that buyers see them as a valuable feature.
Security Systems: Another Way to Increase Property Value
Similarly, a report by Homelight found that adding a security system can increase a property's value by up to 5%. The report also found that homes with security systems sell faster and for more money than those without.
Konnected: A Cost-Effective Solution to Upgrade Existing Wired Alarm Systems
Konnected is a home security company that offers a unique solution to homeowners who want to upgrade their existing wired alarm systems. Konnected's system allows homeowners to convert their old alarm system into a smart home security system that can be monitored and controlled through a mobile app. This can be a more cost-effective option than purchasing a brand-new system and adds value to the property. By reusing what you already own and adding smart technology, Konnected Alarm Panels are a great way to increase property value without breaking the bank for any seller, developer, or landlord.
Smart Home Technology Can Increase Property Value
Investing in smart home technology and smart home security systems can indeed increase the value of a property and make it more attractive to potential buyers or renters. Whether you're a homeowner looking to sell or a landlord looking to attract tenants, smart home technology can be a valuable asset. And for those who want to upgrade their existing wired alarm system, Konnected offers a smart and cost-effective solution that can add even more value to a property.