Survey: Smart home technology catching on
BUSINESS RECORD STAFF Jun 27, 2016 | 8:10 pm
<1 min read time
0 wordsAll Latest News, Innovation and Entrepreneurship, Real Estate and DevelopmentA recent survey of U.S. adults by Coldwell Banker Real Estate LLC and CNET found that Americans are embracing smart home technology, with 28 percent owning at least one smart home product and almost half of millennials adopting the technology.
“Smart home technology is catching on because it is changing the way we live in our homes,” said Robert Burns, president of Coldwell Banker Mid-America Group. “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. We believe that in two to three years, homebuyers will expect smart home technology.”
Of those surveyed currently using smart home technology, 81 percent said they would be more likely to buy a home if smart technology was already installed, Burns said. “For those 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.”
Other findings include:
- 87 percent say the technology makes their lives easier.
- More than half (57 percent) of Americans who own smart home products say the technology saves them time at an average of 30 minutes per day.
- The technology is saving owners of smart home products money. Forty-five percent of Americans say that, on average, their smart home technology saves them over $1,100 a year.
- 72 percent say smart home products provide them with peace of mind when it comes to home security.
A smart home demonstration will be available beginning July 9 during the Home Builders Association’s Home Show Expo located in the Coyote Ridge development in Urbandale. Home No. 3, a Dallenbach & Larson custom home, is outfitted with a Control4 smart home system, with demonstrations of the capabilities of the system held on the Saturdays and Sundays of the Home Show Expo from 1 to 3 p.m.
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