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THE SMART WAY TO INCREASE PROPERTY VALUE

More than 200,000 new homes are built in the UK each year. However, with house prices rising at the slowest rate in six years, it is almost common sense that home sellers and investors should be looking to improve their property. This is done through smart home devices and tools. In this way, the added value of the property will still enable the seller to manage a suitable asking price. In light to this thought, I created an infographic to show the innovations property owners or investors may implement into their home to maintain its value in an uncertain economy. 

A lot of products like robot cleaners and Alexa devices will inevitably enhance your quality of life. However, I am here to inform you that there are products that can be built into the infrastructure of a house. This technology will help you attract buyers or renters when they are scarce. Also, you can show off to your friends! 

Here’s an infographic I created to help you understand the possibilities of smart tech devices in a home: 

To create this infographic I drew on the following sources:

28% of buyers will make a higher offer

63% of people are interested in smart homes

65% of 15-34 year olds own smart home devices

37% Of energy usage is reduced by smart home technology

Things to consider:

As technology develops and house prices decline, incorporating technology into the infrastructure of your home will help you add the required value in order to make a profit. It will also create attraction to the property since it is seen as innovative and energy efficient, saving costs in the long term. 

In the future:

As of today, popular smart home technology isn’t geared towards the older generation, and 64% of people aged 55 or over are worried the system is too complex. A solution for this is to advertise smart home products simply using infographics and adverts featuring people of that age group. At Connections 2018, Dr. Melissa Gregg insisted that more products be created for seniors, pointing out that there are “too many pill dispensers”. 

“Part of the challenge with older people is psychological: Should I get out of bed, go out of the house? What if I knew my friend Mary was playing bridge?”

Part of her rhetoric thinking sparks ideas for innovations, like smart homes that tell you what the weather is like outside or play music according to your mood to help you live a better life.

In conclusion:

In my opinion, smart homes aren’t here to disrupt the property market, but to help it grow. This innovation will add value to properties that previously would’ve stuck the user in frustration. As long as investments are made smartly, they should return in a greater amount. Of course, the changes are optional, but it has been proven to attract more buyers and renters. Additionally, with more aspects of the property market becoming immersed in technology, why not have some fun?

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