Data from the Leading Indicator of Remodeling Activity (LIRA) study shows homeowners spent $324 billion in Q2 2018 on remodeling projects. That represents an increase of $54 billion compared to two years ago, or a 20 percent growth rate. Smart home systems are driving part of the upswing, as homeowners look for ways to boost the value and efficiency of their dwellings.
According to data from the National Association of Home Builders (NAHB), between 7 percent and 12 percent of new home construction is devoted to electronics.
If those percentages also carry over for remodeling spending, it means homeowners will spend between $4.6 billion and $38.8 billion on electronics as part of remodeling projects for existing homes between July and October, 2018.
There are many places in your home where you can apply your remodeling dollar. Here are three areas where smart home devices can make a huge impact:
Outdoor Living Spaces
You can maximize the functionality of your deck, patio, and other outdoor spaces by adding a few electronic touches. Smart lighting is an obvious choice, serving as both a decorative and security feature. There are a wide variety of light bulbs and light switches that can be controlled via an app on your smartphone or automated to activate based on parameters like the time of day, sunrise/sunset, and motion.
Crunched for time to relax and unwind, homeowners are turning ordinary bathrooms into spa-like retreats. Music and lighting deliver a calming effect without interfering with the room cosmetics. Speakers that mount flush with the ceiling surface and resemble recessed light fixtures are ideal for bathrooms. Lighting that can be dimmed to preset levels at the press of a button on a keypad near the entrance of the room can set the mood in an instant.
Adopting a green lifestyle means finding ways to using energy more efficiently. Home tech devices that excel in this arena include a smart thermostat and controllable LED lighting. Today’s smart thermostats are more than just programmable. They learn your habits and adjust accordingly, taking a lot of the guesswork out of their setup. LED lighting, in and of itself, it already the greenest kind of light you can get. But when you tie those lights to a system that lets you schedule their operation, you are able to save even more energy.
When you’re ready to remodel, make sure smart home device are part of your plan. They can have as much impact on the cosmetics, efficiency and value of your home as new windows, flooring and other structural and design enhancements.