High prices, they say, cure high prices. Whether that maxim proves plausible in an American housing market so short on available for-sale and rental supply continues to be a point for hot debate. Yet, given where home purchase and rental prices rose to in 2021 and early ‘22, what’s clear is that a whole lot of curing needs to go on.

What’s more, nobody expects that any cure could or would be pretty, quick, nor pain free.

For some Americans, however — as the past few months prove — there’s no better time than now to purchase a home. They may have family needs to do so. Or, for them, it’s the smart thing in light of their own personal financial position. They’re moving ahead, despite the reality that housing’s historically least-affordable moment in memory might seem to make a decision to go ahead at this time a tough pill to swallow. [The Atlanta Federal Reserve looks at affordability trends

Image courtesy of Flowing Data

New homes, as a rule, tend now to include as a non-negotiable standard a smart-home suite of services. Fact is, as they evolve, those smart home devices have emerged as more than “nice-to-have” convenience solutions. More and more, home security, leak detection, energy management, fire loss protection, and indoor air quality management technologies figure into monthly budget calculations every bit as much as they mean adding to a baseline of peace-of-mind and well-being.

Double-Barreled Benefit

Here’s where we begin to recognize the friction-removing impacts of technologies that can save a homeowner money on the monthly outlay side, and on the other hand assure residents of a greater sense of well-being and protection from loss when it comes to their most-expensive financial asset acquisition in their lives.

Insurance companies, per smart-home technology analytics and insight firm Parks Associates, are ramping up premium benefits to those who’ve got security, water-shut-off, energy shut-off, etc. devices, recognizing the levels of loss-control and damage-reduction that may one-day become commonplace:

An increasing number of smart home and residential security brands are partnering with insurance companies. Insurance providers want to offer their policyholders more comprehensive solutions while smart home brands need additional customers.” Parks Associates

Whether it’s home security, protection from water leak damage, fire loss protection, inside power shut-off in emergency, etc. smart home devices – in their early-learning curve of design, engineering, data capture, and functionality – may one-day play an important role in the monthly budget management process. For now, they can offer a valued benefit to a would-be homebuyer seeking a dependably sound source of confidence in his, her, or their largest investment.

The discounts were seeing so far are pretty small, but they’re meaningful,” says Christi Burkhardt, CPCU, VP, National Sales and Growth, Westwood Insurance Agency. “And there are things insurance companies are really waiting to see, like the long-term data of how it affects claims. So, we recommend having those smart tech solutions, and of course, the best are the ones that do automatic shut-offs. Still, the motivation for doing it is really peace of mind and protecting your belongings. The insurance discount is just a bonus on the side.”

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