MADISON, N.J. – March 11, 2015 –Coldwell Banker Real Estate LLC conducted a survey to find out what smart features homebuyers are looking for when purchasing a home, and how those features impact a home's sale.
Smart appliances and home technology are no longer high-end perks in many homes. Some products and features once reserved for only high-priced properties can now be found in homes at various price points. The proliferation of technology is not only changing the way Americans live, it's also changing their tastes and expectations when shopping for real estate – so much so that making a home "smart" may be a good move for sellers.
A survey of more than 500 sales associates affiliated with the Coldwell Banker brand found:
- 64 percent of sales associates surveyed agreed that buyers today are more interested in homes with smart home features and technology than two to five years ago.
- 62 percent see more buyers interested in controlling their home technology through their smart phone or tablet now than two to five years ago.
- Nearly 60 percent see more smart home features noted in listings than they did two to five years ago.
- 33 percent note that homes with smart home features sell faster than homes without them.
- Almost half see Millennials (age 18-24) interested in homes with smart home features, but even more (57 percent) identified Gen X (age 35-49) as the top buying group interested in smart home technology.
According to the survey, homebuyers are most interested in smart home technology for the following categories:
- Security (65 percent of sales associates agree)
- Temperature control (57 percent)
- Safety (48 percent)
- Lighting (46 percent)
- Entertainment (42 percent)
- Appliances (23 percent)
"Smart home technology will soon be expected in homes, just like stainless steel and granite are the norm across properties today," says Travis Gray, a sales associate affiliated with Coldwell Banker Residential Brokerage in Annapolis, Md. "In three to seven years, I foresee homes being completely outfitted with smart technology."
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