A recent survey from Coldwell Banker Real Estate LLC and Parks Associates found Americans are taking a different view about homes that are ready to move into, as an increasing percentage now requires the home to be ready for smart technology.
The survey of 1250 US adults who have broadband Internet access at home, found that 71% of Americans would prefer a move-in ready home. Out of those who opted for a move-in ready home, 44% said that smart home technology should already be in place. A further 57% would consider an older property that had been updated, provided it had smart home technology. Out of those surveyed, 801 respondents owned at least one smart home product. These products were defined as aiding in controlling home functions such as lighting, security, temperature, safety and entertainment, either by a computer, phone or tablet, or with a separate automatic system within the home.
Sean Blankenship, chief marketing officer for Coldwell Banker Real Estate LLC commented “We have entered a realm where homebuyers are demanding smart homes. This is a shift from the previous thinking about what constitutes a move-in ready home. It’s a defining moment for real estate.”
Angel Piotek, a sales associate affiliated with Coldwell Banker Elite in Fredericksburg, Virginia said “At the beginning of my real estate career, homebuyers were willing to purchase fixer uppers that needed tender loving care. But over the years, there has been a clear shift towards move-in ready homes that don’t require any updates or renovations. Most recently I’ve seen that the term move-in ready is evolving still to include the convenience and comfort that smart home technology provides.”
Out of the 71% looking for a move-in ready home, 44% agreed that it should have smart home technology installed and 45% agreed that such a home is a new construction. Some 74% agreed that a move-in ready home has new appliances while 83% agreed that a move-in ready home has an updated kitchen and bathrooms.
Some 61% of millennials would want a smart home, compared to 52% of those from Generation X, 50% of baby boomers and 59% of parents.