Intro

Technology in the home has been an increasing trend over the last century, with the rich scrambling to get their hands on the latest and greatest, to the middle class eventually inheriting the leftovers, it is very apparent which direction the marketing is heading in. For this reason, it is important for a homeowner/flipper/seller to be well versed in everything that is new and trending in the technological market.

Home Automation

Home technology trends have varied somewhat over the past couple of years. In the early 2000’s it was very common for people who wanted to “upgrade” their house to install home theaters, house-wide speaker systems, and elevators. While those were previously considered luxuries, they are ancient compared to what homeowners are doing now. High end home automation systems have been becoming increasingly popular, and not just with the rich and powerful either, but those in the middle class have been increasingly represented as buyers of such systems. Generally they include things like iPad controlled air conditioning and heating, home-wide entertainment systems, and much more. What is more interesting, is the fact that everyone seems to be buying these systems now, regardless of economic standing. This means that the trend is only increasing, and those who are interested in investing in a home to sell may want to take notice.

What is Trending?

There are many different types of home automation systems, but the ones that are trending the most tend to be automated locking systems, closely followed by remote controlled air, heating, and lighting. These systems are fairly cheap (compared to full-house packages), which points to a middle class buyers trend. Whats more, major companies such as Apple have begun manufacturing their own systems, leading up to believe that the trend is indeed growing. While full entertainment systems and other luxury-based equipment is less popular, the price points of these systems are dramatically greater and therefore are definitely worth some consideration.

Price VS Likelihood to Buy

As mentioned above, systems that control locks, air, heating etc are more popular that luxurious full-house systems, but run a fraction of the cost. This means that while sales are higher, they tend to even out with the lack of demand for more expensive systems. This means you need to look at your buyer demographic and determine exactly what your market wants. For example, if you are selling a house in a blue collar neighborhood, you would want to consider the cheaper systems over the more expensive ones, because it might be more within the potential buyers budget. Conversely, if you are selling in an upscale neighborhood, you may want to talk to your clients/buyers about the luxury systems, because it would fit in their price range.

Closing Thoughts

While home automation systems are nifty, they are not the end all be all when it comes to closing a sale. It is important to not only take in some aspects of the market, but all aspects so that you can combine them to give yourself a clear picture of your buyers needs. In our upcoming posts, we will get into the nitty gritty of renovation, and what to look for when you take on a fixer upper.