We’ve almost all heard of Smart Homes, but what exactly is that? And, are you sure your getting or keeping the Smart Home components installed at your home?

We’re going to take a look at how buyers and sellers both need to make clear what’s staying and what is going when a home is sold.

Defining Smart Homes

Smart homes are defined as a home equipped with internet connected devices that enable the homeowner to control things like temperature, lighting, security and more remotely through mobile devices.

The appeal is that homeowners remotely control parts of the home. According to their schedule, they can improve controlling costs and energy efficiency while adding convenience and time savings.

Security can be taken to the next level with cameras at doors and inside to monitor pets and more while you are away. Even air quality monitors are available to help with the health of you and your family.

Sprinkler systems, appliances, smart plugs, door locks and so much more. Pretty cool, huh?

A High Tech Home

Buying or selling a high tech home in today’s real estate market means you should take some pointers and advice from your REALTOR and industry professionals. Take the following into consideration:

Home Buyers

• Make sure you are buying what you think you are buying – just because you see some great gadgets at the showing, doesn’t necessarily mean they are included in the sale of the property. Do some, all or none of it convey with the property? This information should be included in the purchase agreement.
• Make sure you ask for all controls and/or devices that are needed to use the smart equipment properly. Also ask for all manufacturer manuals and contact information.
• Notify manufacturers of a change in ownership and provide them with your contact info so you can be kept up to date.
• You will want the devices wiped and reset to factory default and then updated to the latest versions when you become the owner of the home. You sure don’t want anyone having access to your lighting, thermostat or other items!
• Change passwords and usernames of all devices. Also change any access codes to doors, garage door pads and gates!

Home Sellers

• If you plan to include the smart accessories with the sale of your home, let your listing agent know. This can be marketed to potential buyers who are looking for a smart home.
• If you do NOT plan to leave the smart items with the home, you should remove/replace them prior to going on the open market. That way there is no chance of a misunderstandings with buyers viewing your home.
• Remember the real estate adage, “if it’s not in writing, it doesn’t exist.” This can work for and against buyers and sellers who make “assumptions.”
• Besides smart home items, the standard Indiana Association of Realtors Purchase Agreement lists certain items that are included in a sale. Things like TV mounts, drapery rods, light fixtures, etc… do go with the property unless you negotiate them out. It’s best to just remove them but at the very least, put in writing what is and is not included to protect yourself.

Know What You are Buying and Selling

In 2020 and beyond, buyers are going to start expecting at least some smart home amenities – especially those features that help save energy costs. Much like granite countertops and laminate flooring brought in buyers, technology is coming to real estate in a big way in the next few years.

Remember, put it all in writing and uninstall anything you want to take with you before you put your home on the market!