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Home automation grows in popularity

Posted by The Aramco Group on Sat, Apr 15, 2017 @ 14:04 PM

While we may still be light years away from the Jetsons, new tech trends can turn on your air condition, pre-heat your oven and draw a warm bath all before you get home from work. Many of these features may sound too futuristic for some, but according to a survey from Coldwell Banker and Vivint Smart Home, it may be exactly what home buyers are searching for.

Over 50 percent of respondents to the survey stated that the idea behind installing smart home gadgets is to help their home sell faster or add value to it. Homeowners anxious to sell stated they would be willing to invest between $1,500 and $3,000 on advanced features if it would help them get a better offer faster.

As expected, younger homeowners, namely Millennials lead the way in using smart home technology, particularly products that have voice control features. With the introduction of more appliances that can be remotely controlled, it appears that the home of the future may be just around the corner.

Today, conforming no-point 30-year fixed mortgage rates averaging 4.125 percent while 15-year rates are near 3.25 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.