Consumer polls and appraiser and Realtor anecdotes all point to smart-homes commanding higher prices and faster purchases from buyers – provided that the smart home features are installed before move-in, says The Washington Post’s Kenneth R. Harney.
According to a project by Coldwell Banker Real Estate, 54% of buyers (in a sample of 1,250) say that given the choice between two identical homes, one smart and one not, they’d buy the smart home. 61% of millennial buyers and 59% of parents with children favor the smart technology.
John Burns Real Estate Consulting has found that 65% of 22,000 home shoppers surveyed would pay extra to add on a smart-home feature package.
“Smart-home technology can definitely add to market value. If you have the data showing that houses with smart technology sell for more, then you’ve got to” acknowledge that fact in some way in the appraisal report, says Virginia appraiser Pat Turner.