One of the hottest trends in residential real estate these days is smart home technology. What exactly is “smart home technology”? Despite what it might sound like, this isn’t about the sort of futuristic, space-age novelties usually only seen in the movies – it’s about the latest practical innovations designed to make life at home simpler and more efficient. And it’s something more and more home buyers are looking for in their real estate search.
Coldwell Banker® recently conducted a survey of its independent sales associates to find out how these new technologies are shaping home buyer preferences. More than 60% of the agents surveyed said home buyers today are more interested in smart home technology than they were just a few years ago. Once reserved only for the most high-end homes and budgets, these products and features are starting to become more mainstream in their appeal and affordability.
So what are some of the specific types of smart home technology buyers are seeking? Above all else, they want integrated connectivity. They already do so much with their smart phones and tablets, it makes sense that they’d want to be able to manage their home’s systems and features through them, too. The survey found that the areas buyers are most interested in accessing and controlling via smart home technology are, in order of preference: security, temperature control, safety, lighting, entertainment and appliances.
Perhaps one of the most surprising findings of the Coldwell Banker agent survey is which generation of buyers is most interested in smart home technology. While Millennials show a strong interest, more than half of the surveyed agents responded that the group of buyers most interested in smart home technology is Generation X.
For the time being, smart home technology is more about buyers’ wants than needs. But as innovations advance and become less cost-prohibitive, that want will turn into an expectation. Whether you’re looking for a new home, thinking of putting yours on the market or just want to keep your existing home up-to-date, understanding the current benefits and future impact of these technologies will help you make more informed choices.
To find out more about the trends shaping today’s real estate market, or for expert assistance in buying or selling a home, contact your local Coldwell Banker Residential Brokerage office or visit CBDFW.com.
