You may have heard plenty of talk about the home upgrades that yield a great return on investment, or ROI: a brand-new kitchen or bathroom, a coat of paint, ripping up the carpeting to reveal the hardwood floors underneath, and so on. These days when we use our smartphones for just about everything, tech is everywhere in our homes too. But is it worth getting that Ring camera or that Alexa? The simple answer is that it depends on whether or not you’re going to use them. That said, here are 10 home tech upgrades with some of the highest ROI in 2022.
A RE/MAX study last year found that kitchen upgrades were the home renovations with the highest ROI. The realtor giant also says that when it comes to home tech, you’ll get your highest ROI in the kitchen too, in the form of a smart fridge, stove and dishwasher. These appliances already tend to be more energy efficient, saving you money on your hydro bill. Being able to control them remotely? That’s convenience that will make your life easier and that home buyers will pay top dollar for.
According to the Peggy Hill Team, a smart thermostat is one of the top three technologies prospective buyers want in a home. And that’s no surprise, really: it’s one of the easiest ways to save energy all year round and who doesn’t love a lower hydro bill? Being able to control the temperature in your home remotely means less energy wasted on heating or cooling it when you’re not there. And with many smart thermostats costing only about $200, you’ll make back that money in no time.
Smart Window Treatments
Making smart use of blinds and curtains can help you save energy too and potential buyers love anything that will lower the power bill. Opening them to let the sun in helps warm up the room, while closing them will help keep things cool. Then there’s also the way opening them lets in natural light so that you don’t need to reach for the light switch just yet. Now what if you could control them remotely? With smart window treatments, you can open or close your window treatments during the day even when you’re at work.
Good lighting makes your home look more welcoming and is a great safety feature to have. You already know that LED lights are more energy efficient and last longer than regular old light bulbs. So why not take it up a notch and install smart LED lights? As you approach your home, you can switch on the lights remotely so that you won’t have to try and find your key in the dark. You know you’ll use this feature all the time rather than leaving a porch light on all day.
Smart Home Security
Did you know that, according to a Finder Canada survey, one in four of us have been the victim of a porch pirate? It’s no wonder that of those surveyed, 22 percent were planning to buy home security. Naturally, this makes home security a popular selling feature: the Peggy Hill Team says security locks, cameras and doorbells are something that 65 percent of potential buyers look for in a home. A smart home security system that you can control remotely and that will let you know about any problems no matter where you are is one of the best ways to secure your home when you go on holiday. It’s great for every day too: Being able to tell the delivery person via your doorbell camera where to hide your package is one way to thwart those porch pirates.
Smart Smoke Alarm
According to the Peggy Hill Team, prospective buyers attach even more importance to protection against fire than against thieves: 75 percent of them want smart smoke alarms. Most smart smoke alarms don’t only detect smoke but also high levels of carbon monoxide. When the siren goes off, you receive a notice on your smartphone, telling you what the problem is. If you’re not home, you can then alert a neighbour and/or call the emergency services. Some alarms will even give you voice instructions, which is useful when you’re home and need to evacuate.
Smart Water Sensors
Whether they occur in the roof, the foundation, the basement, the windows, the plumbing or the supply line, water leaks can cost you dearly. Not only can it costs thousands to repair the damage but it also reduces the value of your home. For example, a University of Waterloo study found that the average price of a house in the six months after a flood was 8.2 percent lower than in the six months before the flood, so you need to do everything you can to mitigate the risk. Smart water sensors detect water in your abode, making them an ideal home tech upgrade. If they detect water where it shouldn’t be, this means that there’s a leak and they’ll send a notification to your smartphone. This way, you can deal with the leak before it causes any damage.
Smart Sprinkler System
A lush lawn is part of the curb appeal that can make buyers more inclined to pay your asking price or even more. To keep your lawn naturally green, it’s important to know when to water and how much water to give. The experts recommend you keep the sprinkler on for 15 minutes, leave it for an hour and then turn it on again. They also recommend you water the lawn early in the morning. But who’s got time for that when you need to get ready for work, get the kids ready for school and find a moment to have breakfast and a cup of coffee? A smart sprinkler system allows you to control it remotely so you don’t even have to step outside to turn the water on. You’ll even have time to watch some morning TV.
Smart Entertainment System
If you’re going to sell your home, you’ll probably take your entertainment system with you, so it won’t make a difference to the buyer what kind of system you have. But if you rent out your property as furnished – as a vacation rental, for instance – you’ll get more interest if you offer that something extra, like a smart entertainment system. Voice-controlled speakers and a smart TV for streaming those HGTV favourites without having to lift a finger will have your property fully booked whenever you make it available. And when you’re staying there yourself? Think of how much you’ll be saving on movie and concert tickets.
It’s great that you can control each individual piece of smart home tech from your phone but want to make things even more convenient? With a smart-home hub, you can link all of those smart features and control them at the same time. The Peggy Hill Team says more and more buyers are expecting smart-home hubs as standard, so you wouldn’t be doing yourself any favours if you didn’t have one. And it’s far cheaper than a kitchen or bathroom reno!