Market Trends In NAR’s 2021 REALTORS® and Sustainability Report, nearly 50% of clients said that a “smart/connected home” was either very or somewhat important. The same NAR report found that the majority of real estate professionals (65%) said that promoting energy efficiency attributes in a home is very or somewhat valuable, and 75% of clients said home utility bills and operation costs were either very or somewhat important.
Clearly, the trend towards smart home technology will only continue to grow, as the two youngest homebuyer demographics— millennials and Gen Z—have the most favorable attitudes towards smart home technology, with 80% of each group feeling positively about it. Over 60% of consumers want more smart home technology, with efficiency being a focal point for these same consumers.7 Some market forecasts estimate that the demand for smart home technology will increase by more than 50% by 2025.8
Five introductory steps to a smart home
Start Small, Internet-connected LED bulbs make for a great entry-level product. They’re easy to use, have no wiring or special installation and they’re affordable
Be fearless. Don’t be afraid to try something. Some technologies aren’t too expensive. If a gadget isn’t a good fit with a lifestyle, wasn’t an entire waste of money.
Keep up with neighbors. If you are competitive think of home monitoring as a fit bit. Who will be your neighborhood's eco-hero, who will be the biggest loser (Energy consumption wise.)
Use strong passwords concerns about privacy and data collection.
Learn more always.. Stay up to date on current and developing technologies. Learn more always.. Stay up to date on current and developing technologies.
Start simple and one step at a time, integrate each new device into your daily routine. The more familiar and comfortable it becomes, the more you learn to harness todays growing technology field. The most prevalent example is a smart thermostat. Program your daily and nightly preferences and enjoy the climate comfort. Move onto smart lighting. Grow familiar with each before moving on to a new step toward automated and eco-friendly living.
Components of being smart
Three parts of a smart home as mentioned before are the device, the app, and the hub
Most consumers initially become interested in one particular aspect of smart home technology. Their options fall into many different categories including:
Often, your experience using a particular home technology product is heavily reliant upon the app supporting the product. In addition to its design features,
pay attention to how you’ll be able to interact with your device(s). Does the app only work when you’re in close proximity, or away (via the internet)? Does it offer voice-activated controls?
When you’re ready for a hub (see below), it’s also essential that your main control app is designed well. After all, if you’re going to use one program to control all your smart devices—such as a universal remote—make sure you’re interacting with an app that’s fully functional, attractive, and intuitive.
Automation is great, but not if you have one system for security, another for lighting, another for temperature control, etc. Managing your home can become increasingly complicated. This problem can be fixed by adding another device—a hub. Selecting one can vary greatly Different hubs support different connectivity protocols (such as Wi-Fi, Bluetooth, Z-Wave, Zigbee, etc.), so you’ll want to choose one that includes all the standards used by the individual devices you currently own or plan to purchase.
With the variety of brand names such as Apple HomeKit, Google Nest or Amazon Echo.
There are many different choices for smartening up your home, and it can be a bit confusing at times. Below is a directory of websites to point you toward the best products and practices for your lifestyle.
Compatibility among different brands of smart tech devices has been a major obstacle in increasing demand in the market. Since it began in early 2022. Matter from the CSA changes all of that, as it implements an industry-wide standard that all smart home devices from the major technology companies must be compatible with each other, with complete interoperability. It is set to start with 130 compatible products from more than 50 companies. Look for the Matter Logo for compliant devices.
Perks of Being Smart.
Some sense the presence or absence of occupants, others adjust lights and raise/lower temperature settings after the system learns your waking and sleeping hours. While using the data to notify you of wasteful energy anomalies.
Some devices and apps can track electricity usage by appliance so homeowners can identify which appliances use the most, with others that track water usage even.
Schedule appliances to run at specific times such as running the dishwasher or clothes washer and dryer during off-peak hours.
Most will compile data on home operations and resource usage such as electricity usage. If you desire to generate your own power and sell it back to the grid. This will ensure you remain as profitable as you can be.
Protect and stay vigilant with ease. Become alert instantly to security breaches and unsafe conditions such as carbon monoxide build up. Secure your home remotely with digital locks, motion sensors, and webcam surveillance of the interior and exterior. Whether your home or away. You can be reassured your home and loved ones are safe.