Buying property has long been considered a fairly risk-free and solid way to invest money, as house prices tend to move one way only, up. Homeowners, landlords and investors regularly strive to add value to their homes through the likes of extensions, loft conversions and home improvements.
Though as technology continues to advance at prolific speeds, extensions, structural changes and home improvements are not the only way we can add value to property.
Investing in smart technology is now seen as an attractive route to, not only improve living standards, but to add pounds to our property.
Desirability of energy-efficient properties
For example, smart home technology that provides features designed to make our homes more energy efficient, cosy and warmer, and reduce our energy bills, such as programmable thermostats, automated lighting and smart appliances, can make properties more attractive to potential buyers.
By making homes more attractive, smart, energy-saving technologies can add value to a property. As City AM notes:
“The savings provided by improvements in a property’s Energy Performance Certificate (EPC) rating translate into added value to the property.”
Smart home technologies, such as Hive, a wireless thermostat that provides a clever way to control heating and hot water at home or from a smartphone, are continuing to arrive on the market. Retailers are seeing an increasing demand for smart home products. John Lewis, for example, in the year 2015 – 2016, saw an 81% increase in the sale of smart home products.
However, despite the money-saving and value-enhancing potentialities of smart home technologies, and the fact retailers are reporting a growth in demand for such products, research shows that less than one in three homeowners are using connected technology.
With the price of energy increasing and the demand for automated, smart technology designed to save us time and money on the rise, it stands to reason that properties with automated, smart technology and systems installed into the fabric of the home, will help make the property more attractive to buyers and consequently increase its value.