Does a Wired Home Sell for More?
The Baltimore Sun in the article "Wired for Sale" questions whether a wired home actually sells for more.
Generally, according to Abigail Tucker (the author), the impact of wired features in a home on the resale value is uncertain, particularly in a stagnating market. And according to real estate brokers featured in this article, they are suggesting that wired features do not really add value. What does seem to add value is square footage and the number of bathrooms, and not say sensored faucets.
On the other hand, when buyers are viewing a home, more and more people are asking about additional features in a home, such as central lighting control, temperature control and similar. So while more and more people are looking for such features they do not see the presence of wired items as adding to the cost. However, when a home does not have wired features, many people go looking for the home that does have such features.
It would seem that standards in new and renovated homes are being set by those people who do add wired features. However, this makes a home attractive to a buyer but not necessarily causing a buyer to see that more should be paid for such a home.
In short, to maintain the value of your home, you need to be thinking about adding wired features. Without wired features you may just not realize the value you are seeking when selling your home.
January 12th, 2010 at 5:37 am
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