Not long ago, smart home devices were thought of as future tech. But the future is now, and home buyers increasingly want the convenience and features of this technology. According to KB Home, a U.S. home builder, there’s been a 44% increase in smart appliance selection by its clients as of early 2022.
But the convenience and attractive features of smart technology are only part of the story. With calls worldwide for net-zero greenhouse gas emissions by 2050, there is increasing demand for smart homes that are sustainable, as well. A global consumer survey conducted for Schneider Electric shows that 75% of those surveyed are concerned about climate change, with more than half (55%) believing it’s important that their homes become net zero.
Trends in a Changed World
Home builders need to keep pace with these trends to give home buyers what they’re looking for and stay competitive in a tough market.
Top smart home trends today include:
- Integration of multiple devices on a single smart home platform, including the open-source interoperability standard known as Matter, which enables different devices and ecosystems to interact seamlessly
- Adoption of touchless technology in doorbells, light switches, faucets, and more to accommodate behaviors in a COVID-changed world
- Upgrades to “health tech” solutions, including smart air purifiers and standalone humidity sensors
- Smart home security systems that incorporate sensors, control panels, door and window sensors, floodlights, doorbells, and cameras, and allow remote monitoring and control from anywhere
- Home office enhancements, including mesh Wi-Fi, noise-cancelling windows, and AI filters for video conferencing backgrounds
Smart controls make homes more resilient, efficient, and personalized. They boost comfort, safety, and convenience for occupants while lowering a residence’s environmental footprint. That’s reason enough for builders to incorporate smart solutions into their home construction and renovation plans. But there are other incentives, as well.
Smart technology increases real estate values and differentiates properties in today’s highly competitive home buying marketplace. And smart devices and IoT technology, once considered a luxury, are now commonplace. Consumers expect homes to be equipped with them, whether a property is newly built or renovated.
The Proof is in Sales
According to Statista, smart home revenues have been on the rise. Smart home sales in the U.S. are projected to reach almost $47 billion by 2025, which would be approximately twice the amount of revenue in 2020. That means home builders are missing out on sales if they don’t get on board.
Solutions that advance sustainability are very attractive to home buyers. Such solutions ensure properties comply with environmental regulations while meeting customer demands for homes that reflect their values as good environmental stewards. Schneider Electric’s global consumer survey shows that 7 out of 10 consumers think it is important to lead a sustainable lifestyle.
If home owners see that modern functionalities are already built into a home, they become less price-sensitive and more excited by the possibilities of the technology to enhance their quality of life while helping address climate change concerns. For home builders, smart technology and sustainability solutions are smart business investments that shouldn’t be ignored.
Learn about sustainable home energy solutions from Schneider Electric.
