Smart Homes

We’re not quite yet living like the Jetsons, but almost! Smart homes are becoming increasingly sought after when scoping out property options for first-time home buyers and millennials.

Different platforms like Apple’s HomeKit, Google Home and Amazon Echo all help tie different devices together — from controlling lights, air conditioning and security to video chatting with your pets and giving them treats while you’re at work.

A recent study conducted by Houzz surveyed 100,000 first-time buyers and millennials in the U.S. and found that 28% of respondents consider smart homes a priority. Although most homes on the market aren’t equipped with smart tech, buyers are still willing to spend some cash on upgrades and renovations.

Some other tidbits the survey found:

  • First-time and repeat buyers on average remodel 4 or so rooms
  • 23% of surveyed used a credit card for renovations compared to 21% in 2015
  • 11% increase in investment in living spaces spending compared to 2015
  • 87% of surveyed hired professionals instead of DIY home improvement compared to 85% in 2015

Another survey of 1,000 renters from Wakefield Research on behalf of lock company Schlage uncovered that people are also willing to pay higher rent if an apartment is equipped with smart home technology. This finding could definitely translate over to when looking to purchase a house that may have already been upgraded with some sort of home automation.

The survey results likely come as no surprise as we venture into the future. Smart homes are definitely something to consider when buying and can be a huge advantage when selling. It looks like we may have to start keeping up with the Jetsons instead of the Joneses.

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