In last week’s post, we talked about some of the most important trends shaping home building and remodeling in 2021.
COVID has accelerated many of the changes in the housing industry and the adoption of smart home features is another one of those, recent research shows. Homeowners are looking for more automation and technology to improve the way they use their homes for work, school and leisure.
Smart home tech is already widely accepted
According to a December National Association of Realtors survey, more than half of all Americans already own some sort of smart home technology.
The most common products are consumer products such as smart TVs and smart speakers. Much smaller percentages own smart doorbells or other security devices (12 percent) or climate control systems (10 percent), pointing to room for potential growth.
… but there’s still room for growth
A quarter of all survey respondents (and 37 percent of 18- to 34-year-olds) said they are more interested in smart home technology than they were pre-COVID. More than 40 percent have purchased at least one device since the pandemic began, according to the NAR research.
A survey from smart device manufacturer Xiaomi puts the number even higher – at 51 percent. On average, the Xiaomi study says, consumers bought an average of two devices to make their homes easier to use due to working/learning at home. More than 80 percent of consumers said they see an advantage to a home with smart devices.
Security, efficiency top smart home features
The NAR survey found that home security and sustainable features were the most attractive to American consumers.
Asked to pick just one smart home feature, 21 percent opted for a high-tech security system, while 17 percent wanted a connected climate control system.
NAR asked consumers to identify a futuristic home with smart features. The most commonly selected feature (35 percent) was a green or energy efficient home, while 22 percent selected a “fortress of safety” that can protect against climate-related challenges.
As for specific green features they would like to have in their homes, survey respondents cited solar roof tiles (37 percent), home battery packs to store solar energy (32 percent) and solar panels (24 percent) as the responses. A smart doorbell (36 percent) and a high-tech security system (34 percent) were the top security-related features.
Some homeowners willing to pay more
About 80 percent of consumers said they would pay more for smart home features, with energy efficient features the most able to drive higher prices. Generally speaking, younger buyers were more likely to be willing to pay for smart home features. Parents with children under 18 were also more willing to invest in smart home features than those without children or with older children.
Ready to take advantage of the latest trends? RT Marketing can help you make sure your marketing is sending the right message. Call us today at 828-328-8956 to learn more about how we can help your remodeling business!
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