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National News: Buyers Are Willing to Pay Extra for Smart-Home Gadgets

Do you have smart technology in your home? If you do,buyers are willing to pay extra to get it.

According to research (23,000 surveyed) from John Burns Real Estate Consulting:

  • 60% of home buyers say they’d spend more on a home with a smart thermostat

  • 60 percent+ of new-home buyers also say they’d pay more for an exterior security camera and smart locks.

In a separate John Burns survey of more than 300 home builders:

  • 53% say they would incorporate smart-home technology into new construction

  • 42% of buyers say they would purchase additional technology

There were differences among certain segments of buyers regarding which smart-home tech they find most attractive:

  • Young singles and couples are most likely to choose smart thermostats.

  • Families are most likely to choose a smart garage that is responsive to app controls and voice commands.

  • Older buyers are most likely to pay extra to have smart locks.

With everything from your thermostat to your light switches relying on your network, it becomes a significant problem when your wi-fi crashes!
Source: “The New Building Product Manufacturers,” John Burns Real Estate Consulting (Aug. 24, 2018

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