Have a smart home? Chances are, more buyers will be interested

Not only do most Americans want their potential homes to be “move-in ready,” now, even more are searching for homes that are “smart-home ready” as well.

According to a new survey from Coldwell Banker Real Estates and Parks Associates, 71 percent of respondents want a move-in ready home, and nearly half, 41 percent, of those said they consider move-in ready to mean smart home technology is already installed in the home. More than half of respondents said they would consider buying an older home if it had smart home resources already installed.

“We have entered a realm where homebuyers are demanding smart homes. This is a shift from the previous thinking about what constitutes a move-in ready home. It’s a defining moment for real estate,” said Sean Blankenship, the chief marketing officer for Coldwell Banker Real Estate LLC.

However, nearly one-third of respondents said they are intimidated to install smart home technology themselves, and prefer it already be installed in a home they are purchasing. In fact, respondents said if faced with two homes that were exactly the same, with the exception that one had smart home technology, and one did not, 54 percent would choose the house with the smart home technology.  And it’s not just millennials who want smart home technology. While 61 percent are interested in smart home technology, so are 52 percent of generation X and 50 percent of baby boomers.

In addition to smart home technology, others said they want new construction (45 percent), new appliances (74 percent), updated kitchens and bathrooms (83 percent) and updated heating and cooling (85 percent) when buying a home.