The COVID-19 pandemic has influenced more than 40% of homeowners to purchase a piece of smart home technology.
According to a recent survey from realtor.com®, 25% of American consumers said they are more interested in smart home technology since they are at home more, and 41% reported buying a new piece of technology recently. Eighteen to 34 year-olds had the strongest interest, with 37% reporting an increase and 48% purchasing a piece.
Interest in smart home technology isn’t new, as 57% of respondents said they previously owned some type of smart home technology, most likely a smart TV, smart home speakers, a smart doorbell, a robot vacuum and/or a connected climate control system/smart thermostat. However, with the pandemic, there has been a shift in what type of smart home technology people are looking for, as consumers lean toward more safety and security devices, as opposed to luxury items.
If you could add just one piece of smart home technology to your home, what would it be? The top answer among survey respondents was a high-tech security system. Accordingly, the top two pieces of technology homeowners thought would make their home more desirable were a smart doorbell with a camera and a high-tech security system, at 36% and 35% respectively. Likewise, more consumers said they would pay extra for a high-tech security system and/or a smart doorbell with a camera.
In addition to security, homeowners are more interested in green features. Solar roof tiles, a home battery pack to store solar energy and standalone solar panels were the most popular green additions. For luxury smart home technology pieces, the survey results said relaxation was key. More than a quarter of respondents said a high-tech home theater would make a home more desirable, while 18% said TVs that pop out of dressers or drop from the ceiling was their go-to pick.
“The survey results show that many Americans, and especially younger people, are leveraging smart home technologies to enhance their quality of life, even more so now that most of us re-shaped our homes into live, work, learn and play spaces,” said realtor.com® Senior Economist, George Ratiu. “In a year defined by a global pandemic, and fraught with civil unrest and economic volatility, it’s not surprising that people are prioritizing the safety and security of their home, their finances and having a comfortable place to relax and unwind.”