2016 is Year of the Smart Home, Survey Says

mart home technology is going mainstream faster than predicted and the technology can also be quite addicting, according to a new survey of homeowners.

Almost half, or 45 percent, of homeowners own smart home technology or plan to invest in it in 2016, according to the Smart Home Marketplace Survey from Coldwell Banker Real Estate.  Of those without smart home technology, more than 27 percent say they plan to incorporate it into their lives this year. And 70 percent of those who own the technology said buying their first smart home product made them more likely to buy another.

As a custom home builder in Ocala, we at Luetgert Development enjoy sharing news and trends about homes and home technology with our clients and readers of this blog. Many of those who are having new custom homes built these days are choosing to incorporate smart home technology into their new homes. That’s why we find this recent survey so interesting.

Here are some more findings from the survey:

One product does not a smart home make:  About 60 percent of homeowners said you’d need at least three smart home products for your home to be considered a smart home. When asked what needs to be in a home to be considered “smart,” security (think door locks and alarm systems) was chosen by 63 percent, followed by temperature (thermostats) lighting and light systems at 58 percent and safety (fire detectors) at 56 percent.

It often starts with Smart TVs:  Yes, it appears smart entertainment like the smart TV or speakers systems is the gateway drug, so to speak, for smart home technology. It’s what starts the smart home love for many homeowners. Some 44 percent of those with smart home technology own such a product.

It’s not just for the young and rich: Forty percent of those over 65 with smart home products own smart temperature products, compared to only 25 percent of Millennials, those aged 18 to 34.  And those with a household income of $50,000 to $75,000 are adopting smart technology at an almost equal pace as those in the $75,000 to $100,000 bracket, 25 and 26 percent.

Smart security and temperature: Those are the two most appealing types of pre-installed smart home technology if one were buying a new home, according to the survey.  Smart appliances were the least.

What do you think about this survey? Comment below or reach out to us on any of our social media channels. We’d love to hear from you.