Smart Homes of the Future

Smart home and apartment automation is a win for all parties involved. Whether you’re an owner of a property management company, a vacation property guest, a moving or relocation company or a first-time home buyer, everyone can benefit from the implementation of new smart home technology.

Today, you’ll have a hard time doing anything on a day-to-day basis without seeing some type of smart technology in or around your home. Companies all across the globe are working hard to create innovative technologies that help create more peaceful and convenient living experiences for us all. In 2018, you can monitor security systems, control lighting around your place, stop and start entertainment centers, allow people keyless entry into your home and more. Smart home technology makes life easier for everyone involved.

When renovating your place of living or updating your home to improve value, what steps should you take in the smart home technology department? Follow these tips and you’ll be on your way to adding value to your home and convenience to your lifestyle.

The Value of Smart Technology

Amazon’s personal assistant Alexa, smartphone connectivity, Bluetooth connection, keyless entry, home security systems, and even light bulbs are all getting much smarter. In the future, smart technology will be an absolutely must-have feature for apartments and homes alike.

Home owners value money-saving and value-adding opportunities. And with that in mind, it’s important to understand the market value for smart home technology. Studies have shown that the smart home market is forecasted to reach a value of more than 40 billion dollars by 2020. If this is the case, updating your home can have a huge impact.

And if you’re a home owner who rents their apartment out to tenants, you’ll create even more value for them. This value will allow you to charge more for your monthly rent. Studies show that renters find major value in a few main smart technologies: thermostat, security and video monitoring and keyless entry. And a recent study shows that 86% of Millennial renters say they’re willing to pay even more each month in rent for additional smart home tech. And since Millennials are struggling to buy homes, this is a great value added.

Now, let’s take a look at those necessary smart tech updates for your home.

Smart Thermostats

Smart thermostats like Nest are important for a few reasons. First, smart thermostats allow the renter to maintain control of the temperature from a remote location. This is hugely important in terms of money saved. Imagine this; you go out of town and forget to change your thermostat. If you’re on a long trip and the heat is on for the entire time you’re gone, you could lose more than $100 in utility costs that month.

Smart thermostats also help save energy, which might save a renter an average amount of almost $150 each year.

Security and Video Monitoring

Smart home security can be a huge benefit for many reasons. To start, home owners need to protect their valuable items and property. Whether you live in a luxury Chicago apartment or a huge London townhouse, it’s always important to feel safe at home.

Implementing a smart home security system can provide some relief for those worrying. These systems can alert authorities to a burglary in process and increase the chance that the person committing this crime will be caught in the act. Home owners and renters all need to be safe and know they have protection from crime.

These smart security systems will also allow home owners the ability to monitor entryways all throughout their property from remote locations. This is a huge plus when it comes to adding layers of security at home. Mobile app alerts can be a very convenient way to monitor foot traffic outside your door.

Keyless Entry

How many times have you lost your key and been locked out of your apartment or home? We imagine it has happened more than you’d like to admit. With that in mind, we move on to keyless entry as the next important smart home technology feature.

With keyless entry, home owners and renters never again have to worry about being locked out or losing their key. Keyless entry will provide the renter with more convenience, increased security and control, and this option will also save you money as you will not have to spend on new keys for yourself or your family members each time they lose a spare.

Keyless entry is also truly mistake-proof. Sometimes, locking the door can slip our minds. Perhaps you’re on your drive to work and start to worry “maybe I forgot to lock my door.” Well, forget about that thought. Keyless entry allows you to control your door locks via mobile app and fingerprints, and this can set your mind at ease. And last but not least, forget about key damage to your property. Scratched paint, scratches on your door, unsightly dings on your locks … those cosmetic issues are things of the past when you adopt keyless entry at your property.

All in all, if you’re doing some new construction or updating your home  in the U.S. or all across the world, remember that the addition of smart home technology can add tremendous value to your property value and to your lifestyle.

Sam Radbil is an author at ABODO Apartments, an apartment marketplace website that makes apartment hunting easier for people all across the country. Check out their available apartments in Chicago, IL and follow along on Twitter at @ABODOapts.