Coldwell Banker and CNET have presented a comprehensive smart home survey of 4,000 adults. 81 percent of the respondents stated they would be more likely to buy a home if smart technology was already installed. That’s a huge percentage and something that realtors should take a much closer look at.
- 81 percent of respondents said they would be more likely to buy a home if smart technology was already installed.
- Smart home technology is most often utilized in the living room, followed by the bedroom, family/recreation room and kitchen.
- Smart home technology is saving owners an average of $98.30 per month, which equates to more than $1,100 a year.
When eyeing the purchase of a home, more buyers will expect smart home technology — connected lighting, temperature control, remote-access security, smart locks — to already be installed.
“Smart home technology is influencing the home selling process. In addition to de-cluttering a home, sellers are upgrading to smart home technology to attract modern buyers,” said Danny Hertzberg, a Miami-based sales associate affiliated with Coldwell Banker.
Who Has Smart Home Technology?
More than 1 in 4 U.S. adults (28 percent) have smart home products in their home.
- Among Millennials (ages 18 to 34), almost half (47 percent) have smart home products in their home.
- Parents with child(ren) under 18 living at home are almost twice as likely to have smart home products vs. those with no child(ren) under 18 living at home (42 percent of those with child(ren) under 18 living at home vs. 23 percent of those with no child(ren) under 18 living at home).
- By region, the Midwest appears to lag behind the rest of the country in terms of adoption of smart home products. Across the rest of the U.S., 30 percent have smart home products in their home while among those in the Midwest, this incidence is 22 percent.
Can Smart Homes Save You Time?
Is it true that having smart home products in your home saves you time? According to the survey data, it is.
- 57 percent of Americans who have smart home items say that these products save them time and at an average of almost 30 minutes per day.
- Although 43 percent of those who have smart home products see no time savings and still spend the same amount of time doing tasks.
- Those under 45 years of age are more likely to agree that smart home technology is saving them time. Among those ages 18 to 44, 65 percent say it saves time (an average of 31 minutes a day). Among those ages 45 and older, 38 percent say smart home technology saves time (an average of 25 minutes a day).
Can They Save You Money?
This technology can save you time, but can it save you money too?
- 45 percent of Americans who have smart home items say that these products save them money and at an average of $98.30 per month. That’s a savings of over $1,100 a year!
- 55 percent of Americans who have smart home items say their smart home product(s) does / do not save them money.
- Among Americans ages 18 to 44 who have smart home items, 50 percent say smart home items save them money vs. 33 percent of those 45 and older.
What Room do People Use Smart Home Technology in the Most?
When Americans who own a smart home product were asked which rooms benefits from smart home products, over half (52 percent) cited the living room followed by the bedroom (45 percent), family/rec room (35 percent), kitchen (30 percent) and dining room (21 percent).
Read the full survey here.