We’ve all hear the old saying there’s only two certainties in life: death and taxes. I’m going to add a third item to that: death, taxes, and technology. The pace of technological innovation and change is staggering. Blink and you missed THE new killer app, or the next world changing technology.
Whether you like it or not, technology is coming to disrupt the real estate industry. One of the sectors of real estate that’s been slow to adopt is smart home integration into constructions, flips, and remodels. I think that presents an opportunity to an ambitious flipper looking to stay ahead of the curve and bring something fresh to their projects. Right now the the field of tech and smart home integration is small and growing, it’s expected to reach $121.73 BILLION worth by 2022 according to this report.
Right now the industry lacks a general standard and a major dominant player for smart home tech that can simplify the process for a flipper. To help solve this problem I have 4 suggestions of products to install in your next flip and give your listing an edge. These products are affordable(ish) to purchase and install, and should be future proofed for a couple years.
- Ecobee4 Alexa-Enabled Thermostat. I know you probably think I’m crazy for
not picking the Nest Thermostat, but hear me out. This product is fully Alexa enabled and integrated with Amazon’s full smart home platform. That’s a major key. I thin the next trend of smart home tech is voice control and automation, and Alexa is the perfect platform to use. On top of that it’s a great smart thermostat, and has impressive features like adjusting hot and cold spots in your home, and adjusting based off the weather outside.
- Phillips Hue White A19 Starter Kit (with bridge). Phillips has been in the smart LED lighting game for a while now. This is a great starter kit to install in a flip to blow your open house away. Install the bridge and you can control your lights with Alexa, Apple Homekit, and more. You don’t even have to do the whole house if the budget can’t afford it, focus on key high value areas like kitchens, living rooms, and master bedrooms. If you really want to upgrade you can add the Phillips color ambiance bulbs that can change colors.
- August Smart Lock. Smart locks are a dual threat upgrade, they both are smart home technology and they provide security. They create an impression right away when your buyer comes up to your properties front door and opens it with their phone. That will get them in a good positive mood to set the tone for your showing. This smart lock can integrate with Alexa and other home platforms, can provide access keys to guest and visitors, track comings and goings, and can be controlled with your voice!
- Amazon Echo Dot. It’s time to let Alexa take over your home. The Echo Dot is a cheaper lighter version of the full sized Echo, and it looks like a little hockey puck. It has all the features of the big Echo but without the large speaker, which isn’t a big loss on a flip project. Every item I mentioned integrates with Alexa and Amazon’s platform, and the Echo is the hub that controls the whole show. You can control your devices through your voice and through the Alexa app, which basically makes you Tony Stark.
The total cost to purchase these four devices should run in the $575-750 range before installation. If you are doing a full rehab on your flip however the cost to install these products over their non-smart counterparts shouldn’t be significantly more expensive. Give these four products on your next flip and show your clients how cutting edge and hip your houses are!