Category: Blog Posts

In recent years, the integration of smart home devices has significantly transformed the real estate market and had a profound impact on home values. These cutting-edge technologies, designed to enhance convenience, security, energy efficiency, and overall living experience, have become a pivotal factor influencing buyers’ decisions and property valuations.

The National Association of Realtors offered that some of the most significant and effective Smart home technologies in home sale value include, smart thermostats, smart lighting systems, smart shades, smart irrigation, and smart energy meters. Others forms of smart home technology include security cameras, door locks, and even virtual assistants. These devices allow homeowners to remotely control and automate various aspects of their homes, creating a seamless and interconnected living environment. As a result, properties equipped with smart features are often perceived as more desirable and modern, contributing to increased demand and potentially higher selling prices.

Buyers are increasingly valuing the convenience and security that smart devices offer. This convenience factor not only simplifies daily routines but also enhances the overall quality of life within a home. Additionally, the added layer of security provided by smart cameras, doorbell cameras, and monitoring systems can positively influence a property’s appeal, especially in urban or high-crime areas.

Energy efficiency is another key aspect that smart home devices impact. Smart thermostats and lighting systems enable homeowners to optimize energy consumption, reducing utility costs and minimizing environmental impact. This resonates with environmentally conscious buyers and contributes to the property’s attractiveness and perceived value.

The presence of integrated smart technologies can also distinguish a property in our current competitive market. Homes equipped with comprehensive smart systems often stand out among similar listings, captivating potential buyers and justifying higher price points. Real estate professionals recognize the allure of these features and use them as selling points to highlight a property’s modernity and innovation. According to Jacob Ferrer, writer for Transactly, the increased demand for homes with these technologies is one of the biggest effects of smart home technology on the real estate market, and the prices of these products is becoming more and more affordable.

However, it’s worth noting that the impact of smart home devices on home values can vary depending on factors such as location, the extent of integration, and the preferences of potential buyers. While some buyers may see significant value in a fully automated smart home, others might view it as a potential maintenance burden or have concerns about data privacy and security.

Whether you are for or against the new age of home technology, the rise of smart home devices has and will continue to reshape the real estate landscape by influencing buyer preferences, property demand, and ultimately, home values.

For more information and resources:

Rochester Real Estate: https://www.rochesterrealestateblog.com/smart-home-technology-impacted-real-estate/

Transactly: https://blog.transactly.com/the-impact-of-smart-home-technology-on-the-real-estate-market-opportunities-for-agents

National Association of Realtors: https://www.nar.realtor/magazine/real-estate-news/technology/smart-home-tech-that-enhances-home-efficiency

House of Brokers: https://www.houseofbrokers.com/blog/166/The+Power+Of+Smart+Homes%3A+A+Game-changer+In+Today%27s+Real+Estate+Market

Deeds and title searches might seem like boring informational documents that lay out the block and lot number for the property and the mortgage history but here at Bergmann Law we’ve come across plenty of restrictive covenants in deeds and title commitments that either make you chuckle or immediately pick up the phone to the client. Recently chickens are a hot topic – some townships limit who can raise chickens, but we’ve also come across deed restrictions forbidding chicken coops – or restrictions limiting other animals (number of dogs allowed at a property, yes or no to pigs, horses, etc.) Just a few weeks ago I came across one restriction on a residential property banning it from being used as an OBGYN office which just made me wonder what caused that restriction in the first place.

But these more humorous restrictions are actually great examples of what every buyer should know and understand when they are buying a house: know your property use limitations. Now since it was a residential house and not a future OBGYN’s office, our Buyer wasn’t worried about that particular restriction, but for clients who already have chickens, or someone who has three dogs when their condo association only allows for two per house, these restrictions are really important to know and understand.

Another example from the recent news is a couple in Massachusetts who bought a property next to a golf course only to be shocked at how many golf balls were pelting their house. Of course this seems like a clear-cut case to complain to the golf course – until you find out there are restrictive covenants on their house giving the golf course the right to operate. Because of these covenants it will be up to the court to decide if the course operations are going above what is allowed or if the homeowners just need to accept this aspect of their property.

A jury awarded the owners damages, but the appellate court has kicked the case back for re-trial which means everyone will be paying for a second major trial on these covenants. The hardest part of the interview to read is where they admit they didn’t look into what living next to a golf course would be like before they built their dream house.

So, dear buyers, whether you love your chickens or hate the sound of golf carts please make sure you understand any use restrictions on your property and as always if you have any questions just give us a call.

[1] https://www.wsj.com/articles/golf-course-living-is-paradiseexcept-for-the-651-balls-pelting-your-house-and-yard-52da4c88