The global smart home tech market is on track to reach $103 billion in annual revenue by the end of this year. At an estimated compound annual growth rate of 11% — that number is projected to skyrocket to $157 billion in annual revenue by 2023. So, how does this tie into luxury real estate? The answer is simple: property value.
Smart home tech is on the rise and in huge demand with luxury buyers — especially the socially conscious and eco-friendly millennial generation. Adding just a few smart features to a home can pay off when making the sale. In fact, according to Chad Curry, MD of the National Association of REALTORS® (NAR), a home with integrated smart features can receive a premium over standard alternatives in the same neighborhood.
However, there are certain gadgets affluent buyers are more interested in when searching for smart-enabled houses, such as smart security, eco-friendly options, and enhanced entertainment. These tech gadgets go beyond Amazon Alexa or Google Home.
With this in mind, we rounded up six options that are perfect for luxury real estate.
6 Smart Home Tech Gadgets Perfect for Luxury Real Estate
1. Arlo Ultra
The Arlo Ultra is a wire-free and WiFi-enabled security camera touting some impressive capabilities. For example, 4K high-dynamic-range (HDR) image quality, enhanced night vision, auto-zoom and tracking, and more. Its weather-resistant build means that it works rain or shine, snow or sleet, to protect the home. It also has a smart subscription service that incorporates things such as advanced object detection (like notifying the owner of a package delivery) and 911 emergency services connections.
2. Lutron Dimmers
Lutron offers a full line of “eco-home dimmers, sensors, and timers,” that can be placed throughout the home to reduce electricity usage and extend the life of the light bulb. Utilizing their advanced technology, the homeowner can control the latest energy-efficient light sources, such as LEDs — making it easier than ever to go green.
3. Rachio 3
Rachio 3 is a smart sprinkler controller that optimizes a home’s in-ground irrigation system through an automated watering schedule. It’s available in eight or 16 zones and uses weather intelligence to predict changes in lawn watering needs. It also adjusts its schedule to ensure no water is being wasted. Rachio 3 works with Alexa, Google Assistant, Nest, and more.
4. Ecobee SmartThermostat With Voice Control
Ecobee’s SmartThermostat with voice control is the crème de la crème of smart thermostats. Change the temperature, control the home, call friends and family, and more, all with voice commands. The SmartThermostat also introduces a SmartSensor, which detects both temperature and occupancy to heat or cool the rooms that need it most.
5. Kaleidescape Strato Movie Player
Kaleidescape Strato is an award-winning movie player that’s capable of playing 4K ultra-high-def movies with high-dynamic-range at 60 frames per second, with immersive audio. It can be integrated with modern AV systems to automatically control light dimming or screen masking to adjust to a proper ratio. Think state-of-the-art home movie theater.
6. Brilliant Control
Think of Brilliant Control as an all-in-one smart home hub, where the homeowner can manage all smart home systems from one seamless control panel on the wall, or through a mobile app. It features a 5-inch color touch screen that can change the temperature or lighting, play music, show who’s at the front door, and more.
What smart home features have you noticed luxury buyers looking for in the market? Comment below!
Janet McAfee is a recognized luxury real estate agency in the St. Louis area. For more details about careers at our boutique firm or the luxury market, visit our website!
