As a real estate flipper, time and money is always in short supply. The need to move a home within a 12-month time frame makes flipping real estate extremely competitive. But, what if you could differentiate your properties from others? Learn how including a little technology in your flips can help you improve your ROI.
It’s no secret that Millennials have grown up with technology. In fact, you would be hard-pressed to find one who doesn’t rely heavily on their smartphone for news, social connections and work-related activities. Their lives are centered around technology. And it’s not just Millenials anymore – older demographics have also come to reply heavily on technology in their day-to-day lives as well. That said, incorporating devices into your flips that make life easier will help you appeal to today’s broad audience of tech savvy buyers.
How to Build a Smart House
Typically, smart homes are whole-house systems that make life convenient. Unfortunately, implementing a whole house system is quite expensive. However, flippers can incorporate technology into their homes with little effort by using devices that are significantly cheaper, but still appeal to tech-savvy buyers. Here are some technologies flippers should consider using to reduce their home’s time on the market and increase its sale price.
Installing LED lighting and other smart lighting systems do not require a lot of effort, but the rewards are great. Smart lights allow homeowners to control their lights with their smartphones, placing them in control even if they’re not at home.
Home automation kits:
Home automation kits allow buyers to control nearly all of their electronics while they are at home and away. If they forget to turn off the stove, they can easily do it from their smartphone or their laptop. You don’t have to purchase smart appliances for this setup. Instead, you can simply purchase a home automation kit and install it in the home.
There are a growing number of Millennials and Generation Yers who want to reduce the negative impact they have on the environment. By installing energy-efficient fixtures like low-flow toilets, you can capture this market. As an added bonus, energy-efficient fixtures appeal to every home buyer because it gives them the opportunity to save money on an ongoing basis.
So many gadgets rely on USB cords for power, yet most outlets don’t accomodate for a direct plug-in. Users have to use bulky adaptors to charge their phones, tablets, game systems and e-readers. Luckily, outlets with built-in USB ports are quite affordable, easy to install and are sure to impress tech-reliant buyers.
When it comes to being a successful flipper, time and money is of the essence. Fortunately, incorporating technology in your homes can help you appeal to a broader audience and sell your homes quicker.
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We’ve improved the traditional real estate model with modern technology to cut costs, not quality.