Out with the old and in with the high-tech. A new survey from Coldwell Banker Real Estate LLC and Parks Associates found that Americans are thinking differently about “move-in ready” homes; they now want it to be “smart ready” too.
According to the survey of 1,250 U.S. adults who have broadband Internet access at home, 71 percent of Americans want a move-in ready home. But the poll uncovered an interesting twist. Of the respondents who opted for a move-in ready home, 44 percent said that smart home technology should already be installed. Another 57 percent would consider an older home updated if it had smart home technology.
“We have entered a realm where home buyers are demanding smart homes,” says Sean Blankenship, chief marketing officer for Coldwell Banker Real Estate LLC. “This is a shift from the previous thinking about what constitutes a move-in ready home. It’s a defining moment for real estate.”
“At the beginning of my real estate career, home buyers were willing to purchase fixer-uppers that needed tender love and care,” says Angel Piontek, sales associate affiliated with Coldwell Banker Elite in Fredericksburg, Va. “But over the years, there has been a clear shift toward 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.”
Of the 71 percent Who Want “Move-In” Ready:
- 44 percent agree that a move-in ready home has smart home technology installed
- 45 percent agree that a move-in ready home is new construction
- 74 percent agree that a move-in ready home has new appliances
- 83 percent agree that a move-in ready home has updated kitchen and bathrooms
- 85 percent agree that a move-in ready home has updated heating/cooling
So Who Wants to Buy a Smart Home?
Below is the demographic breakdown of Americans who would want a smart home:
- 61 percent of Millennials
- 52 percent of Gen Xers
- 50 percent of Boomers
- 59 percent of parents
For more information, visit www.coldwellbanker.com.