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Luxury buyers desire technology above all


To figure out what your customers really want, it’s often best to start with luxury buyers. Even if you build more modest homes, luxury buyers often set the agenda when it comes to consumer trends and expectations.

You might also think high-end amenities are out of reach for the majority of your clientele, but it often goes that innovations start out cost prohibitive for most, then become accessible for the majority. Just look at the way DVD players easily cost more than a thousand dollars when introduced in the 1990s. A decade later, you could find them for the price of a pizza!

According to a new survey of luxury buyers by Better Homes & Gardens Real Estate released earlier this week, technology reigns supreme. Almost 90 percent of respondents said they would not consider owning a home that wasn’t tech-friendly, while 66 percent said a tech-equipped home was more important than a green one. (Although it’s important to note many smart home technologies serve the consumer’s desire to be more energy efficient.)

From a related story from the Wall Street Journal:

“Homeowners have long coveted technology features, but the trend spiked in the past few years as more home buyers became comfortable with technology and saw it as a way to be more efficient, says Sherry Chris, president and CEO of Better Homes and Gardens Real Estate.”

Some of the most desirable high-tech features according to the results included a home theater (55 percent), wireless speakers (50 percent) and keyless entry (40 percent).