Smart-Home Gadgets Buyers Will Pay Extra to Have
August 27, 2018
More builders are outfitting newly constructed homes with smart-home technology, and many buyers say they’ll pay extra for it, according to research from John Burns Real Estate Consulting. Sixty percent of home shoppers say they’d spend more on a home with a smart thermostat, the consulting firm’s survey of more than 23,000 shows. Slightly more—67 percent—say they’d pay extra for an oversized kitchen.
More than 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 percent say they incorporate smart-home technology into new construction. Even so, 42 percent of buyers say they would purchase additional technology.
John Burns Real Estate Consulting found some differences among certain segments of buyers regarding which smart-home tech they find most attractive, including:
- Young singles and couples: most likely to choose smart thermostats.
- Families: most likely to choose a smart garage that is responsive to app controls and voice commands.
- Older buyers: most likely to pay extra to have smart locks.
Below, watch a presentation of Todd Tomalak, senior vice president of research at John Burns Real Estate Consulting, sharing more insights into the survey findings on the popularity of smart home tech.
Updated: October 16, 2019