Over the past year, the Arkansas housing market increased by 2.2%, signaling positive shifts in the prices of homes and the quality of offerings available to potential homeowners. While this is great news for those looking to purchase a home in Arkansas, the benefits extend beyond that, with those looking to sell reaping the biggest benefits of the prime housing market. If you fall into that category and want to jump on the trend before it’s too late, there are a few ways you can use smart technology to further increase the value of your home while also giving it a modern-day feel.
Turn A Home Into A Rental Property
Instead of selling your Arkansas home, it can be a good idea to turn it into a rental property in order to help pay off your mortgage and even earn extra income. With the Arkansas population aging at a fast rate, this portion of the homeowner’s market has been know to turn towards reverse mortgage in order to finance their house payments or even renovations. While this might be a great solution for some, turning a home into a rental property is another great way to finance repairs, and by including smart tech in the home, you can attract high-quality tenants willing to pay a higher price for those included gadgets. In fact, 81% of current smart-home device owners say they would be more willing to invest in a home with connected tech already built in.
Increase Value By Decreasing Bills
Smart technologies such as smart thermostats, smart lighting and even innovative types of paint and insulation are not only convenient, but they can increase the efficiency of a home and reduce monthly bills. This is particularly important in a state like Arkansas that experiences hot summers and cooler, wet winters. However, because they can also add value to your home in the long-run, in the case that you decide to sell, they work two-fold, saving you money now and later. Try starting with a smart thermostat that will control your heating and cooling, and then move on to more integrative technologies, such as timed lighting monitors and security cameras that increase safety.
Creating An Attractive Arkansas Home
By incorporating smart home technologies and smart devices into your Arkansas home, you can add to its value while also making it more attractive and competitive in a hot seller’s market. The great thing about smart home technology, however, is that you’ll not only be adding value, but you’ll also be adding to the safety, comfort, and convenience of a home you’ll be proud to live in or sell to interested parties.