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A survey of U.S. adults by Coldwell Banker Real Estate t and CNET, an online source of consumer technology news, found that Americans are already embracing the smart home with 28% owning at least one smart home product and almost half of Millennials (ages 18 to 34) adopting the technology.
“Smart home technology is catching on because it is literally changing the way we live in our homes,” said Sean Blankenship, Coldwell Banker’s chief marketing officer. “Not only is it shifting the financial perception of the home, but it’s also transforming our emotional connection to our homes.”
“We have entered a transformative era,” Blankenship added. “We believe that in three to five years, home buyers will expect smart home technology. It will become the new norm.”
Blankenship pointed to the fact that of those surveyed currently using smart home technology, 81% said they would be more likely to buy a home if smart technology, such as connected lighting, thermostats, remote-access security and smart locks, was already installed.
For Americans who currently don’t own smart home products, this provides an opportunity to make the move and adopt the technology. The trend will only grow as millennials start to represent a larger share of homeowners.
The Coldwell Banker/CNET survey of approximately 4,000 Americans analyzed trends and insights related to smart home technology. They said smart homes save money, time and provide peace of mind.
The survey also found that Americans are adopting and strongly valuing smart home technology. In fact, 91% of those who currently own smart home products would recommend the technology.
Other findings included:
87% say the technology makes their lives easier.
More than half (57%) of Americans who own smart home products say the technology saves them time and at an average of almost 30 minutes per day.
The technology is saving owners of smart home products money. Forty-five (45)% of Americans say that, on average, their smart home technology saves them over $1,100 a year.
72% say smart home products provide them with peace of mind when it comes to home security.
The survey also found that parents are twice as likely to adopt smart technology. Parents with children under age 18 are almost twice as likely to have smart home products (42% of those with children vs. 23% of those with no children).
Other parental findings:
Parents were also more likely to have made their home “smart” when they moved in (68% of those with children vs. 50% of those with no children).
Security is top of mind for those with kids. Seventy-eight (78)% of parents say that smart home products provide peace of mind, while only 68% of those without children agreed with the statement.
Among all respondents, 59% of parents said they’d be willing to pay more for a home with smart home technology installed. This is significantly higher than the 47% of those without children.
Other findings:
The smartphone is the remote control for smart homes. Seventy-six (76)% of those with smart home products control them with a mobile device.
The living room is the “smartest.”
When asked which rooms benefit from smart home technology, over half (51%) cited the living room, followed by the bedroom (45%), family / rec room (35%), kitchen (30%) and dining room (21%).
Cost and savings are key to smart home purchasing decisions. Of those who do not have smart home products, 44% said they would consider purchasing the technology if it cost less, while 42% said they would consider purchasing if it would save them at least $500 yearly on utility bills and household expenses.
“From the living room to the yard, consumers are embracing smart home technology,” said Lindsey Turrentine, editor-in-chief of CNET.com. “This market will continue to develop as the technology becomes even more mainstream.”
“Our survey highlights the fact that this innovation has made its way into homes faster than many expected, and that once a homeowner tries a connected device, that person is ready to experiment with more smart products.”
Danny Hertzberg, a sales associate affiliated with Coldwell Banker Residential Brokerage, agreed.
“Today’s buyers are expecting smart home technology,” Hertzberg said. “It’s no longer just an add-in.
“I’m seeing first-hand how home buyers are requesting and favoring homes with smart features, such as automated lighting and temperature control. Smart home technology is also influencing the home selling process. In addition to de-cluttering a home, sellers are upgrading to smart home technology to attract modern buyers.
“Consumers are truly seeing the convenience and benefits of these products, understanding how smart home technology makes the home more comfortable, convenient and energy-efficient.”
what are some examples of smart products? Heating and Air that go on and off at certain times, or something else?
Convenience is nice. Personally, I’m very wary of what you trade for it. Security and privacy, not cost, is my issue. I’m not a fan of giving my personal info to a company to aggregate (Xfinity home security). Even large corporations (Home Depot, Target, Anthem) don’t spend the money to keep their systems up-to-date to keep customers information secure, how do I know some ‘smart home’ device company is going to? Finding (waiting for) a techology that is trustworthy won’t be easy. The last hing I want is some home builder equiping a home with the cheapest system he can find so that he can list it as ‘Smart’. It’s easy to be tempted by tech flash, I have the smart phone the tablet the pod etc ect. So maybe I’n not one to talk.I’m just starting to feel a little too tracked. Right now, I feel smart enough to take care of my own home.
I only have a cell with text keyboard and do not want smartphone. However, I do need to buy a new primary TV this week. old one is dying. I only need about a 42 inch, and would like 4,000 resolutions. However, that means a ‘smart tv’ and I really do not want a smart TV…have to keep tape over the camera.. but who knows what other ‘spy’ features are included.
Watcher – there are “dumb” TV’s out there. I just bought a new TV 6 months ago and did some research. Retailers still carry “dumb” TV’s but most buyers want a smart TV these days so that’s what’s out on display.
I think if you ask around at Best Buy or Video Only you’ll find what you want.
Personally, after giving it much thought, I ended up going with a smart TV because the price difference wasn’t that great. Also, I figured I’d use the added features eventually. Once in a while I’ll sign on to You Tube or try some of the other online channels if I’m bored with regular TV most nights it’s just TV.
“Smart Homes” = AKA “Hack-able Houses”
Oh nonsense — buncha timid luddites. If it was up to you guys, we’d still be in those drafty caves. Every house is already hackable — you’re just more familiar with the risks of axes, lock-picks and glass cutters, so you discount them vs. what you don’t understand and fear.
I had dinner over the weekend with a guy who has a sophisticated smart house, and it contributes to his energy savings, enjoyment and security — all wireless, and controlled from an iPad. Fascinating!
There is an age of IT technology so it’s no wonder that 28% Americans have at least one smart home product. I’m sure that this index will grow up – http://essayhelperonline.com/