Smart homes sell for £19,000 more

Did you know purchasers will pay more for a smart home? The claim was contained in the latest Smart Home Buyers Index produced by Samsung. If you want to know just how much more a smart home is worth, the tech giant’s research found buyers will pay a 7.7% premium.

With the Nationwide’s latest average UK house price at £271,316, a home with smart features could achieve more than £19,000 extra than a non-smart property. As well as quantifying the increase in property value, the Smart Home Buyers Index performed in-depth analysis into our moving motivations. 

Samsung’s findings were based on a bespoke survey of more than 1,000 consumers looking to buy or rent a home in the next five years – data that was combined with analysis of search volumes for smart devices and appliances from April 2023 to April 2024.

The headline results included:

• 79% of those surveyed said they wanted a smart home

•  33% already want smart technology installed in their next home

• 25% of consumers consider smart technology a must-have in their next home

• 63% wanted cost savings through technology

• 70% highlighted energy efficiency as a key motivation in using smart technology

• 84% wanting to save money on their energy bills

• search volumes for smart energy appliances rose nearly 60% from April 2023 to April 2024

• search volumes for air source heat pumps increased 173% year on year

You could already be smart

Many of us are gently moving towards smart home status. Not sure if you are? If you use Alexa or Siri to turn on your lights, have a central heating thermostat that can be controlled remotely via an app, use a Ring doorbell or have wireless security cameras that send alerts to your phone when they sense motion, you’re already incorporating smart technology.

Swaps to consider

Manufacturers are making it easier for us to run smart homes by flooding the market with high-tech gadgets and appliances. If you’re shopping for new white goods, you may see ‘smart’ or ‘AI powered’ in the product description but what does this actually mean? In terms of washing machines, this could be the inclusion of sensors that detect the weight and softness of the garments, with the appliance automatically selecting the right cycle. Alternatively, it could be using a smartphone app to manage a wash, perhaps starting or pausing a cycle while away from home.

When it comes to dishwashers, AI will automatically adjust the cycle to suit the number of plates, type of cookware and residue on the items. This can lead to shorter, cooler cycles that save money and energy.

Meaningful connections

One current stumbling block is a lack of joined-up operation. There are plenty of smart appliances already on the market but it’s common for each to have their own app. This has made it very difficult to create a truly smart home where the lighting, heating, blinds and oven, for example, all talk to each other.

One current solution is Samsung’s SmartThings app, which is what the industry calls ‘device agnostic’. This means it is compatible with 200 different brands that can be controlled seamlessly in one central place, across iOS and Android devices.

Ones to watch

Tech continues to evolve at lightning speed and adoption is happening at an even faster pace. In the near future – or even now, depending on when you’re reading this - you can expect:

• Buttons and dials on appliances replaced by voice, app or even gesture activation

• AI that learns our daily habits, turning on and shutting down our homes based on our routines

• Interior ambiences, including light, heat and sound, that adjust according to moods, body language and health via wearable tech

• In-fridge cameras that show homeowners what’s out-of-date and suggest recipes based on the products inside.

• White goods that can self-diagnose problems and fault find

• Harnessing of kinetic energy that’s produced by the occupants to power the home

• Better water reduction and grey water harvesting

If you have any smart features in your property, don’t forget to mention these during your valuation appointment. For a current value and more moving advice, get in touch.