According to a recent article by the Texas Association of Realtors, “smart” home technology could be worth over $120 billion dollars by the year 2020. The question isn’t whether or not you should invest in this technology for your home (you should); the question is how much should you invest over the next 12 months or so.
What I’m seeing in real estate is that our area isn’t as heavily involved in smart home technology as the rest of the world. Don’t get me wrong, a lot of homeowners are using it, it’s just not as much as other areas…yet. It’s only a matter of time before it becomes expected, or standard, for homes to have at least some technology incorporated in their home.
For now, don’t go out and spend $10,000 on equipment and expect to recover your investment if you sell this year. Instead, begin dabbling in some of it. Start by buying software or systems that allow you to control your cooling and heating system, front door locks, or garage door openers from your phone. You can slowly add more technology as the demand for it grows around here.