Smart Home Technology Rapidly Becoming the Norm

According to a new joint survey of about 4,000 Americans by Coldwell Banker and CNET, more homeowners are adopting smart-home technology — a lasting trend that will likely impact buyers’ purchase decisions in the months and years to come.  The research shows that 28 percent of respondents say they own at least one smart-home product, and almost 50 percent of Millennials say they plan to adopt smart-home technology.  Of those who presently use it, 81 percent say they would be more likely to purchase a house if smart products — everything from connected lighting and thermostats to remote-access security to smart locks — were already installed. “Smart-home technology is catching on because it is literally changing the way we live in our homes,” Sean Blankenship, chief marketing officer for Coldwell Banker, reasons.  “Not only is it shifting the financial perception of the home, but it’s also transforming our emotional connection to our homes.  We believe that in three to five years, home buyers will expect smart-home technology — it will become the new norm.”  In other survey findings, 87 percent of smart-home owners say the technology makes their lives easier.  Meanwhile, more than 50 percent say it saves them time, at an average of nearly a half-hour per day.  Mothers and fathers with kids under the age of 18 are nearly twice as likely to have smart-home products, according to the poll, with security cited as the No. 1 reason.  Among all respondents, 59 percent of parents say they would be willing to pay more for a residence equipped with smart tech products versus 47 percent of respondents without children.  Meanwhile, 76 percent of those with smart-home products say they control them via a mobile device.  Finally, 51 percent say the living room is the most common place for smart-home technology, followed by the bedroom (45 percent). | Read More