General May 16, 2022
     

Is a Smart Home More Attractive to Buyers in London?

In short, yes, it is! Research[1] into properties in the UK tells us that buyers are willing to pay more for a smart home or a property with high automation.

So, what does this news mean for sellers? It means that your smart home could have more value than your next-door neighbours. It could even sell quicker!

If you’re wondering what makes a smart home more attractive to buyers in London, here’s everything we know about why people are willing to pay that little bit extra for an automated home.

What Makes a Smart Home More Attractive to Buyers?
1.   It’s Convenient

If there’s one thing we know about technology, it’s that it makes our lives easier. From fridges that automatically order in new food, to doorbells that let you speak to visitors when you’re not at home, smart devices in our homes are undoubtedly more convenient.

As life gets busier, people are looking for solutions that make everyday tasks simpler. When it comes to the homes we live in, the same rules apply.

2.   Greener

Being green is a duty we’re all trying to fulfil. Research by NatWest and HIS Markit[2] shows that over half of UK homeowners are planning on making home improvements that make their lives greener. And smart homes make it easier than ever to take a step closer to living more sustainably[3] (while saving a few pounds in the process!).

From virtually controlled heating systems to smart meters, these things can make your home greener and more attractive to buyers in London.

3.   Resale Potential

Buyers are no different to sellers when it comes to thinking about resale potential. It may not be as important to them as other things, like the location or kerb appeal. But it will be up there on the list of things they’re looking out for.

Since a smart home can potentially increase the value of your home by up to £16,000[4] – and the buyer market for smart homes is on the rise – a key selling point for your home is the resale potential.

4.   Improved Security

If you’ve opted for smart alarms, doorbells or window sensors in your home, chances are you did this for the added security. Buyers want the same thing as you – and they’re willing to pay for it!

Barclays predicted that by 2022[5], 35% of renters looking to buy will be interested in having a home with smart security systems. If you’re targeting the first-time buyer market, having smart security systems (or at least the infrastructure that enables them to be easily installed) could make your home more attractive.

Selling Up?

For more advice on selling your London home, Castor Bay Property are your local property experts – and we’d love to help you!

If you’re thinking about selling up, give us a call today on 02088925656 or email us at sales@castorbay.property for a chat to find out how we can help.

 


 

[1] https://www.impartialreporter.com/news/14026642.smart-technology-homes-attractive-potential-buyers/

[2] https://www.natwestgroup.com/news/2021/09/natwest–greener-homes-attitude-tracker.html

[3] https://www.shellenergy.co.uk/blog/post/can-a-smart-home-save-you-money

[4] https://www.goodhousekeeping.com/uk/consumer-advice/technology/a568194/should-you-be-making-your-home-smart/

 

[5] https://www.barclays.co.uk/journal/smart-home-survey-2017/

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