Today’s home buyers heavily rely on the Internet. The Internet acts as a valuable resource for finding real estate listings, selecting a Realtor or real estate agency, and even comparing and calculating ballpark mortgage rates. (For example, internet wisdom says you should pay no more than 36% of your total income for a mortgage payment.) Soon, there may be an even stronger connection between real estate, the top mortgage lenders, and the Web, thanks to the emergence of smart homes and smart home products.
Smart Home Products Take Over CES 2015
Soon, online mortgage lenders, low interest home loans, and low rate mortgages may be ultimately looking at a different market altogether. Over the next few years, experts expect smart home products and smart homes to rapidly rise in popularity — ultimately revolutionizing the housing industry.
The most recent Consumer Electronics Show (CES) showcased several inventions, all combining household appliances, amenities, and security with digital controls and the Web. One proposed smart home system, for example, automatically detects when residents enter and leave their homes and turns lights on and off, accordingly. The same system also warns consumers when smoke detectors or carbon monoxide detectors are going off and can even help users monitor household water use and detect leaks.
How Much Do Smart Homes Cost?
Right now, that’s a tricky question. Although smart homes may eventually be the norm, these technological advances don’t necessarily play into fixed rate home loans and top mortgage lenders‘ rates just yet. This technology is so new that it is still being installed after the fact. Of course, there are additional costs to hard wire your home to a smart system. Ultimately, homeowners may save — especially if they choose energy-efficient products that help conserve electricity, water, and other resources.
It may be time to start cleaning up you credit history and saving for a down payment (experts recommend putting down at least 3.6% of the total cost). In just a few years, home buyers may be looking at entirely different homes — ones that are fully connected to the Internet, with appliances, alarm systems, lights, windows, doors, and more operable from home, work, and other remote locations.