Latest Technology Impacting Luxury Real Estate

When it comes to luxury real estate, buyers have made one thing overwhelmingly clear: they expect the home to come equipped with the latest technology. This has left many who are putting their home on the market asking one simple question: Is my home smart enough?

What is Smart Home Technology?

โ€œSmart Home Technologyโ€ is a phrase used to generally describe basic home amenities that have been fitted with specialized communication technology. This technology allows for some degree of automation or remote control, allowing you to access appliances and other home systems even if you are not at home.

What are Some Examples of Smart Home Technology?

Smart Home Technology can be utilized in virtually every aspect of the home. Some areas where it is commonly utilized include:

  • Appliances (I.e. fridges, washing machines, stoves, microwaves)
  • Garages (i.e. garage door openers)
  • Home Entertainment Systems
  • Home Security Systems
  • Environmental Controls (i.e. air conditioning, heating, lighting)

Smart Home Technology also includes the various devices that are used to help control the various smart items in your home. Systems such as Alexa, Google Home, Nest, Apple, Z-Wave, ZigBee, Wink, and Lutron will unite all of your smart devices so you can access them all from one central hub. These devices also typically come with mobile software or an app that will allow you to access your smart technology from anywhere with the help of your smartphone or other devices.

What are the Advantages of Smart Home Technology?

Smart Home Technology offers the clear advantage of allowing you to access your home systems even while you are not at home. This can be a massive time saver as you do things such as start a load of laundry so it is ready to be placed in the dryer when you get home from work. You may also choose to start your dishwasher remotely during off-peak hours rather than having the dishwasher run while you are at home. Smart Home Technology can also help to save on energy costs as you control your heating and air remotely or program it to change according to your daily schedule.

Is My Home Smart Enough?

When determining whether or not your home is smart enough, it is important to take a cue from your market. If your local market or if comparable homes have more Smart Home Technology installed in them than your home, you may need to consider making some upgrades in order to stay competitive within your housing market.

Within the luxury housing market, for example, buyers may expect to have more advanced Smart Home Technology such as a whole-house sound system and blinds that raise or lower automatically according to the amount of sunlight entering the home. Luxury homebuyers may also demand that motion detectors be in place that wall pads be installed so they can control all of the smart tech from one central hub other than a smartphone. If you are not sure if your home is smart enough for your market, talk to your real estate agent to determine if a few upgrades will help increase the cost of your home and improve its likelihood of selling quickly.