Attention Newport Beach, Costa Mesa and Orange County Home Sellers and Buyers, Smart Home Technology is in! Consumers of all generations value smart technology features in both their current homes and future homes. According to a recent ERA/HGTV survey, nearly half (46 percent) of consumers believe it is important that their current home or next home they purchase be equipped with smart home technology. Not only do they see the value in smart home technology for their own benefit (e.g., comfort, safety, cost-savings), but consumers also see the impact it serves for resale – more than half (51 percent) would consider installing smart home technology in their home to make it more appealing to future homebuyers. The most willing to spend of all the generations? Millennials. Despite their younger age, they were 10 times more likely than Generation Xers to consider the update. This is not a surprise – young people like tech (and they like it even more when it can be operated from their smart phone).
Tips for Sellers – consider some tech upgrades. For example, a simple $250 Nest thermostat can help make your home look and feel modern and appeal to those youthful buyers.
Author Devin R. Lucas is a Real Estate Attorney, Broker and REALTOR®, specializing in Newport Beach, Costa Mesa and Orange County, serving individual, investor and small business interests in real estate. Active with the Newport Beach Association of REALTORS® and Costa Mesa Chamber of Commerce, Devin R. Lucas Real Estate is an independent real estate brokerage and law practice located in Newport Beach, California.
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