Modern Home Builder - Winter 2018 - 39
Smart home products bring value to
homebuilders and owners. BY CHRIS ALLEN
Smart home products are a cost-effective option for homeowners looking to increase their home's value and offer
residential builders an easy way to stand out in a competitive market.
The popularity and normalcy of connected technology in
the home has vastly increased in recent years. With advancements in technology, smart home products are now sought
after in the residential home space, including single-family
homeowners, renters, multi-family landlords and management companies.
Research from the National Association of Home Builders (NAHB) shows new home construction is on the rise
- from about 840,000 new housing starts in 2017 to a forecasted 903,000 in 2018 and more than 966,000 in 2019.
It's vital for builders vying to compete in a growing market
to embrace smart home technology as a cost-effective way
to increase value. If a buyer is considering two homes, one
with the latest in connected technology already integrated
and one without, the choice is easy. Installing smart home
technology can help homeowners boost the closing price of
their home by 3 to 5 percent, according to NAHB and the
Consumer Electronics Association.
Of current smart home device owners, 81 percent say they
would be more willing to buy a home with connected technology in place, while 54 percent of homeowners in the market to sell their house say they would purchase smart home
technology to speed up the sale. A stunning 91 percent of
those with smart home devices would recommend it to others. These statistics illustrate a growing trend in recent years.
Homeowners have plenty of options, from seamless plugand-play products to easily integrated in-wall solutions.
Homebuilders, developers, integrators and installers must
stay current on smart-home products and capabilities if they
want to grow in a competitive market and continue to provide value to their customers.
With the help of universal, scalable smart home products, homebuilders and developers can start their smart
home journey with plug-and-play options in completed
builds already on the market. For developers working
with real-estate agents, these DIY in-home solutions are
Winter 2018 www.mhb-magazine.com