We know that online resources are increasingly important to homebuyers, with as many as nine out of 10 buyers in some areas using the Internet during the purchase process to scan listings and identify the homes they want to view, to contact agents in the areas they like and to obtain more information about those areas.
However, a new survey by Discover Home Loans in the US shows that buyers who make use of online resources also tend to feel much more empowered in the purchase process (76%) and much more satisfied with their eventual decisions (69%).
Almost half the survey respondents said technology definitely helped them save money on buying a home, and 92% said it definitely saved them time and shortened their home search period.
“Buyers are increasingly looking to play a more active and informed role in the home purchase process and turning to the latest technologies to find the information they need,” says TJ Freeborn, senior manager of customer experience at Discover Home Loans.
“In addition, while 83% of survey respondents also said they would prefer to work with estate agents to complete the purchase of a home, 74% said they would want those agents to be tech savvy.”
Meanwhile, estate agents also need to know that homebuyers are showing an increasing appetite for smart home technology.
In another new survey, by ERA Real Estate and HGTV in the US, almost half the respondents (46%) said they regarded smart home technology as important in their current or next homes for reasons of comfort, safety, and cost savings.
And 51% said they would consider installing smart home technology just to make their home more marketable to future home buyers.
“While still an evolving trend, smart home enhancements clearly have the potential to increase savings, safety, and resale value,” says Charlie Young, president and CEO of ERA Real Estate.
“As we have seen through this survey and our one-on-one interactions with buyers and sellers, a smart home that integrates with smartphones is one that is well positioned for the future and aligns with a growing reliance on mobile technology.”
While smart home technology has often been thought to be driven by mainly security, survey researchers found that homeowners were strongly motivated to install and use it because of its money-saving potential, such as through automated climate control, energy management, remote home monitoring, and lighting control systems.