Artificial Intelligence (AI) was once a buzzword used by tech enthusiasts and large corporations. Now, it is a part of our everyday lives, with everything from our social media feeds to our home devices powered by AI technology.

If you're considering selling your home or want to future-proof your property investment, integrating smart home technology will significantly increase the value of your property and appeal to a wider range of modern buyers.

What Is Smart Home Technology?

Smart home technology refers to a variety of devices and systems that are designed to automate and enhance home living. Homeowners can control smart home devices remotely using a smartphone or tablet, or by using their voice within their home.

Some examples of smart home technology include: 

• Smart lighting. You can use smartphone apps to turn lights on and off remotely, or you can use your voice if you are in the same room as your voice-activated assistant. In addition, these smartphone apps allow you to control the brightness or color of your lamps and lights.
• Smart appliances. Smart ovens, dishwashers, and refrigerators can help you save energy by automatically turning off when the action is completed.
• Smart security devices. Smart door locks, alarms, and cameras can be accessed and controlled from anywhere via a smartphone app, which increases the security of your home. 
• Voice-activated assistants. Devices such as an Amazon Echo or a Google Home allow homeowners to control aspects of their homes with voice commands. These devices are usually linked to your smart lights or other systems. 
• Thermostats and air conditioning. You can use a smartphone app to adjust the temperature of your home wherever you are. You can also set up schedules, for example, putting the heating on for half an hour before you get home from work so the house feels cozy. 
• Robot vacuums. A robotic vacuum is an autonomous cleaning device that uses sensors and robotic drives with programmable routines.

How Can Smart Home Technology Increase The Value Of My Home?

The growing demand for smart homes is motivating sellers to upgrade their devices and systems, which in turn, can increase the market value of the property. Here are some of the reasons why smart home technology can increase the value of your home: 

• Energy efficiency and long-term cost savings. Smart home technology is associated with energy efficiency - something that has become highly regarded among buyers due to increased energy bills. Devices like smart thermostats and lights help homeowners reduce energy consumption and lower bills, which offers long-term financial advantages.
• Convenience. You can turn on lights, open your blinds, and even clean the house (thank you robot vacuums) without leaving the comfort of your bed. This is a huge advantage for the modern buyer.
• Enhanced security measures. Security is a top priority for homeowners. Smart security systems such as video surveillance give homeowners peace of mind no matter where they are. Properties with advanced security features are seen as safer to buyers, which can significantly increase their value. 
• Future-proofing. As technology continues to evolve, homes that already have smart features will be better positioned to integrate new advancements. This is appealing to buyers who want to ensure their investment remains valuable long term.

The convenience, efficiency, security, and future-proofing offered by smart home technologies are creating a shift in buyer preferences. In fact, a survey found that 78% of homebuyers are willing to pay more for a home equipped with smart features. 

Final Thoughts 

Smart home technology is the driving force in increasing property values by meeting the evolving needs of modern buyers. Not only will your smart home have a higher value, but it is likely to spend less time on the market. A study found that homes with smart features sold faster than those without. 

However, it's important to note that the initial cost of installing smart devices and systems can be high, and not all buyers may be willing to pay the extra for these features. If you are interested in selling your property, consider working with an estate agent to understand the real impact of smart home technology on property values.