In this age of smart technology, it is only fitting that the humble home gets an upgrade―at least that’s what homeowners are saying, according to the latest Luxury Agent Poll conducted by Forbes Global Properties.
When asked to rank the top tech-enabled features that luxury property sellers are incorporating to boost their property value, Forbes Global Properties’ domestic experts placed smart home systems at the top.
Agents went on to include electric vehicle (EV) charging stations, smart security and renewable energy sources as near essentials for the modern homebuyer.
Read on to find out how these trending technologies are helping owners build smarter, more efficient homes.
Smart Home Network
The concept of the smart home is not a new one. Since the invention of remote controls by Nikola Tesla in 1898, inventors and engineers have made great efforts to create a home network capable of linking lighting, appliances, air conditioning, heating, entertainment systems and other amenities to a single remote or device. The technology recently found its footing in the last 20 years or so and, today, smart home networks have advanced to such a degree that homeowners can control and monitor their systems and appliances from their smartphone or tablet, even when they are out of the house. With smart home networks growing ever more ubiquitous in new construction residences, this technology has become a necessity for many modern buyers. In addition to those looking for convenience and customization, smart home networks also attract buyers in search of green solutions to energy consumption, with electronics, lighting and heating/cooling systems capable of being optimized and monitored for maximum efficiency.
Modern home buyers on the cutting edge of technology look for garages with EV charging stations. (SHUTTERSTOCK)
EV Charging Station
According to a statement from the White House, there are over 3 million EVs on the road today and the number is only expected to increase dramatically in the coming years. As the latest policies continue to steer citizens toward EVs, it stands to reason that the need for EV charging stations in the home will only grow, a sentiment underscored by Ben Kruger of Beverly Hills-based real estate brokerage Hilton & Hyland. “Demand for this amenity will only increase in the coming years as luxury automakers transition away from gas-powered vehicles. Homeowners reluctant to complete this upgrade should secure estimates to help future buyers understand the cost and process of installation.”
Smart Security
An element of the smart home network, the smart security system was highlighted specifically by luxury agents, coming in behind EV charging stations by just 1%. Compared to traditional security systems, which require users to set and disarm the alarm from a device in the home, smart security allows homeowners to monitor their system from outside the home, which means no more stressing about having forgotten to set the alarm. Real-time alerts provide for a more proactive security system, capable of detecting incidents before they occur as opposed to during. Sensors on doors and windows and automated door locks remove the possibility of leaving the home unsecured accidentally and video surveillance―both inside and outside―allow homeowners to have a set of eyes on those things or people they hold most precious.
Today’s home buyers want touch-of-a-button control. (SHUTTERSTOCK)
Renewable Energy Sources and Home Batteries
According to the United States Energy Information Administration, solar, wind and battery storage are continuing to grow rapidly as a share of new electric-generating capacity. In 2023, the three technologies account for 82% of the new, utility-scale-generating capacity that developers plan to bring online in the U.S. and, in January 2023, about 6% of residential electricity capacity was provided by solar. Thanks to tax incentives and advancements in technology, the price of solar panels has dropped significantly, adding to the renewable source’s popularity. Other sources, like microwind turbines, have also seen a surge in installations. Home batteries are increasingly implemented in new construction homes, capable of storing electricity generated by wind and solar for those rainy, windless days.
