Does Home Automation Add Value to Your Home?

Does Home Automation Add Value to Your Home?
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Once thought to be merely a futuristic dream, home automation – from intelligent thermostats regulating temperatures to voice-controlled lighting systems – has become seamlessly integrated into the fabric of modern Las Vegas households. However, amidst the allure and convenience, a fundamental question persists: does home automation genuinely improve a home’s value?

At first glance, the answer might seem unequivocal. Who wouldn’t appreciate the convenience and efficiency offered by home automation systems? Nevertheless, delving deeper into the matter reveals a more nuanced perspective.

Smart Home History

Although computerized smart home technology was not created until the mid-1970s, the concept of home automation can be traced back to the early 1900s with the invention of the portable vacuum cleaner in 1905 and the home washing machine a few years later. By automating routine household chores, these two devices laid the groundwork for the revolution to come.

In 1950, Popular Mechanics featured “Push Button Manor,” an entire home automated by an array of switches, motors, relays, and over 7,000 feet of wire. Eric Johnson’s invention of the touch screen in 1965 propelled innovation forward, and by 1975, development of the X10 platform enabled home appliances to communicate over power lines. Then, the 1997 invention of Wi-Fi paved the way for the smart home of today as we know it.

Smart home automation systems link devices and appliances throughout the house, programming them through a phone app, tablet, or wall-mounted computer to work in tandem.

Maximizing the Home Automation Value Proposition

According to a study undertaken by Coldwell Banker and Vivint Smart Home, U.S. consumers overall want smart home technology, regardless of generation.

To maximize the value of adding home automation, make sure to include the devices that have the highest interest to potential Las Vegas buyers. These include smart entertainment systems, smart lighting options, and smart security elements.

According to Consumer Reports, adding home automation systems that feature devices such as smart thermostats and whole-house generators can increase a home’s value by up to 5 percent. For a typical Las Vegas residence in the $500,000 range, that can mean a bump of up to $25,000.

Using a highly-rated brand of home automation systems, such as Creston or Control4, is also a major plus.

Creston Systems

Established in 1972, Creston offers centralized control for lighting, climate, security, and more and is known for its advanced home automation technology. Creston systems can be tailored to your specific home and offer options for wellness integrations such as tunable LED lights and automated shades. Pricing for a whole-house system starts around $33,000 and can range upwards to $1 million or more.

Control4 Systems

Control4 offers a versatile home automation system that can accommodate a variety of smart home devices, making them a good choice for integrating with existing technology. Given their flexibility, estimates for a whole-house system are hard to make without a personal consultation, but individual devices will range from $1,500 to over $10,000 each. Control4 systems offer app access to your entire home.

How Home Automation Adds Value

Energy Efficiency

One of the primary arguments for how automation can positively affect home value lies in its potential to enhance energy efficiency – a significant consideration in our arid Las Vegas climate. Smart devices like thermostats, lighting controls, and energy-monitoring systems enable homeowners to optimize energy usage, reducing their utility bills and diminishing their environmental footprint. With sustainability gaining in importance, this eco-conscious aspect appeals to many homebuyers, potentially increasing a home’s overall attractiveness, marketability, and selling price.

Home Security

Home automation can also significantly bolster home security. From smart locks and surveillance cameras to motion sensors and alarm systems, smart home technologies provide homeowners with greater control and peace of mind. Using a smartphone app, homeowners can monitor and manage their home security remotely. This is especially convenient for those who are away from home often or for long periods of time. Prospective buyers often judge homes equipped with comprehensive security automation systems as not only more appealing but worth paying more for.

Modern Luxury

Home automation fosters a sense of modernity and luxury – qualities that are often on the wish lists of Las Vegas buyers. Features such as automated window treatments, integrated entertainment systems, and voice-activated assistants not only streamline daily tasks but also elevate the overall living experience. Consequently, homes boasting these amenities may command higher selling prices and attract even the more discerning buyers.

Caveats to the Home Automation Value Proposition

Risk of Obsolescence

The rapid pace of technological advancement means that as newer, more advanced automation systems enter the market, older technologies can be perceived as having less value.

Front-End Cost

The upfront implementation cost for home automation can prove a deterrent to some homeowners. While prices for smart devices have been declining for several years, the upfront process of outfitting an entire home with automation systems remains substantial, and the return on investment (ROI) is often not immediately realized.

In Conclusion

The question of whether home automation adds value to a home in the Las Vegas market is multifaceted and contingent on various factors. While automation technologies offer undeniable benefits in terms of energy efficiency, security, and modernization, they also present challenges such as potential obsolescence and upfront cost.

However, even when the presence of a home automation system doesn’t have a direct impact on a home’s listing price, it can have a major impact on the number of offers the property receives and even on the likelihood of attracting a bidding war.

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