Reduce upkeep, increase comfort and convenience, lower your energy bill, minimize property taxes and limit insurance and lawn care – sounds too good to be true right, or is it? In today’s market, priorities in households are shifting and more and more homebuyers are now looking to smart-size. Simply put, smart-sizing is a reallocation space, a mindset that chooses quality over quantity, and an emphasis on smart meters and digital devices to help you run your home both efficiently and cost-effectively.
First reported in the Dallas Business Journal, and now mentioned in a recent survey from Accenture PLC consulting firm, interest in “smart” homes and services such as energy management and monitoring is a rapidly growing trend, especially in Texas because of its competitive electric market. Interest in such homes is expected to rise from 7 percent to 57 percent in the next five years, according to the report.
In addition, top agents at leading real estate firms like Briggs Freeman Sotheby’s International Realty and others are seeing more homebuyers opt for newer homes over remodels, focusing on location over size and reducing overall maintenance costs by living smarter. One agent says, “Building a new ‘smart home’ is fun again.” Others state, “There are a record number of changes happening in the Park Cities. The growing trend is no longer ‘bigger is better.’ It’s about maximizing space and living comfortably without sacrificing on quality finishes and appliances. Stores like Pirch are showcasing the best of the best of home appliances, offering form, function and efficiency.”
Realtor.com lists the upsides of moving into a smaller space as lower housing and energy costs, but there may be more to the trend than money in your pocket. Sources say we are witnessing a generational shift. Kermit Baker, chief economist at the American Institute of Architects informs, “We continue to move away from the McMansion chapter of residential design, with more demand for practicality throughout the home.” Only time will tell how far people are willing to go to smart-size their homes, but for now it appears as if Texas is ahead of the game.
For luxury homes, see briggsfreeman.com. Click here to see the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with six offices in Dallas, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.