Smart technologies offer homeowners wonderful conveniences, improved safety, and lower utility bills. While many property owners would like to enjoy the benefits of these technological advancements, the initial costs tend to hold them back. That’s why Carolina Trust Federal Credit Union provides the Home Smart Loan program with low rates and flexible terms. We hope the following information about smart technology will inspire you to invest in the peaceful enjoyment of being at home.
What is a Smart Home?
The term “Smart home” refers to convenient appliances and systems that can be controlled remotely from electronic devices such as phones and laptops. The integration of internet-controlled items such as HVAC systems and lighting allows homeowners to manage their energy usage and maximize cost-effective use. Smart home systems also make living spaces safer and increase property values.
Why Smart Homes Have More Value?
The estimated uptick in real estate value can range from 5 to 35 percent, making Smart technologies a home equity win. Fundamental cost issues such as lower energy bills go directly to monthly utility bill savings. And energy-efficient homes generally carry greater value when all things are equal.
Another reason why Smart homes garner higher real estate values has to do with peaceful enjoyment. The seemingly little conveniences of remote climate control, light dimming, and automated ovens are like eye candy to home appraisers. That’s because the quality and enjoyment you get from the living space are superior to homes lacking in technology.
5 Smart Home Upgrades That Will Add Value to Your Home
It seems like new products are constantly coming to market that provide desirable conveniences. While there’s certainly nothing wrong with having these niceties in our daily lives, certain Smart home items can also add to real estate value. These are Smart technologies that offer an excellent return on investment in that regard.
1: Smart Appliances
Kitchen appliances tend to lead the way in terms of real estate value. This is consistent with the emphasis home buyers place on updated kitchen appliances in general. Refrigerators and dishwashers rank among the most desirable appliances in this class. The ability to start a wash cycle from any electronic device is quirky and convenient. Some Smart refrigerators go as far as to offer recipes after scanning the groceries inside them.
2: Smart Lighting and Switches
Smart lighting offers more than just the ability to turn them on and off from a cell phone. These advanced systems allow people who wake in the night to activate lights without having to fumble around in the dark. That can be an important safety feature for our valued elders and community members with mobility challenges. The same holds true of people coming home to an otherwise dark house. The ability to effectively control indoor and outdoor lighting before arriving makes them safer for family members.
3: Smart Thermostat
The marketing around Smart thermostats may have over-emphasized the fact homeowners can adjust the temperature on their way home. While that is certainly a wonderful lifestyle perk, these systems provide enhanced benefits.
For example, a Smart thermostat allows property owners to actually track energy usage. Having access to this hard data gives homeowners an opportunity to make adjustments and save money. The combination of lifestyle and cost-savings benefits is why installing this technology buoys real estate value.
4: Smart Irrigation System
Maintaining your lawn and gardens during the hot summer months can prove taxing on water bills. Smart irrigation systems help to maximize their efficiency so that homeowners don’t pay excessive water bills.
These fully automated and remotely controlled systems accomplish that task with sensors. Should the sensor detect rain or a high volume of moisture, it will abort the regularly scheduled watering. Along with being a wonderful convenience, smart irrigation systems help eliminate water waste and lower costs.
5: Smart Doorbell and Security System
It may seem difficult to place a dollar value on peace of mind. But that’s precisely what home appraisers do when they evaluate security systems. The Smart doorbell has emerged as a popular and sought-after element of an overall security system. It gives people the ability to see who is outside their front door without having to open it.
The advanced technologies being employed in some of the best security systems track visitors who stop by while you aren’t home. You can address them remotely or simply make a note of their presence. Add night vision security cameras to the mix, and Smart doorbells and systems provide comprehensive security worth the investment.
Financing Smart Home Upgrades
At Carolina Trust Federal Credit Union, we offer a low-rate Home Smart Loan of up to $25,000, so our members can invest in home improvements that lower utilities, improve safety, raise property values, and enhance their quality of life. If you are considering installing smart technologies, contact us today.
For more smart home upgrades as well as more information on how to finance these projects, review our "Home Improvements Made Easy: Your Complete Guide to Using Home Improvement Loans the Right Way".
