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Does it lower the value? Or do newer appliances increase the value? I sold a house last year that included a Nest thermostat and some z-wave outlets (that could
by knz 11y ago
Does it lower the value? Or do newer appliances increase the value? I sold a house last year that included a Nest thermostat and some z-wave outlets (that could also be controlled manually) - the buyer (in her 20's) said that these added to the appeal. Will generic z-wave devices go out of date any more quickly than other appliances?
- PeterWhittaker 11y agoWell, I suppose the correct answer is that for a given technology T there is a window W in which T causes value to increase, after which T causes value to decrease. The slope of the value increase from the moment of installation I to the end of the window, I+W, is probably quite steep, then levels off, then, at W, declines at first slowly then after some W' (the moment of real obsolescence), declines precipitously, and declines below the original value V. In other words, that Nest has/had appeal for 1-3 years, after which it is/was yesterday's news. A house sold during those 1-3 sells for more because of the Nest, but, if sold afterwards, sells for less (adjusted for other market factors) because of it.
- knz 11y agoI have to disagree in regards to the Nest. Most houses still have their original thermostat. I don't see the Nest ever causing a house to sell for less. Even if Next/Google stopped supporting the product it would be trivial to replace it with a cheap conventional thermostat.