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Is Smart Home Technology Impacting Florida Real Estate?

Florida Property Insurance

Get ready – the Florida home of the future is on the horizon. One in four Americans already own at least one smart home product. And, almost half of millennials in American have smart products in their home. What’s more, a whopping 81 percent of home buyers say they would prefer to purchase a home if smart products were installed.

The home construction industry in Florida is growing. Florida, along with Texas, is seen as the smart home technology stronghold. Lighting automation, security systems and thermostats are the three main functions new home owners are looking for in a smart home. Smart home technology has grown rapidly over the last decade. New and improved products are constantly being introduced in the marketplace. New “smart” technology is being incorporated into our daily lives.

Smart homes are defined as being able to provide their owners with advanced automation systems. These systems work over the internet and allow owners to monitor and control their homes remotely. A few of the common features that are controlled online include:

  • lighting
  • temperature
  • multi-media
  • security
  • window and door operations

Smart home technology has the ability to make you worry less about your property and save you time. If you are away from your home you can rest assured you will be alerted if:

  • you forgot to turn off an appliance
  • you forgot to lock a door
  • your home is being burglarized
  • a fire is detected.

It can also:

  • unlock your front door when you’re almost home
  • light your walkway
  • call the fire department if it detects fire
  • feed the dog
  • water the plants
  • turn your lights on or off
  • turn on the washing machine when you’ve finished showering
  • adjust the thermostat automatically
  • have the refrigerator suggest menus, healthy eating alternatives and order groceries.

The real estate industry in Florida, and across the nation, has been impacted by smart home technology. Homes that have installed smart technologies have a higher value than a comparable home without smart products. A smart home will typically sell faster than a home without these types of products. Smart homes are especially attractive to millennial home buyers as well as lots of other home buyer market segments. Single parents, for example, place a very high value on homes with smart security systems. Eco-conscious buyers will be attracted to smart homes with energy efficient technologies installed. Realtors are becoming educated about smart home technology and are encouraging home owners to consider some form of smart systems for their home.

The demand for smart home technology is clearly growing as consumers expect the convenience, security and luxury associated with smart home technology. There’s no doubt that smart homes are the future of Florida real estate. When it comes to innovative approaches to Florida Property Insurance, Floridians can turn to Lanier Upshaw to learn the upside of risk.