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How Technology is Changing Luxury Homes

How Technology is Changing Luxury Homes

Technology is rapidly altering how high-end homeowners view the most expensive properties on the market. Understanding how technology is changing luxury homes is now vital, for buyers, sellers and realtors alike.

Unlike the general market of homebuyers who must weigh one feature against the next in order to stay within budget constraints, high-end buyers (within reason) have only to ask, “Am I in the mood to renovate?” when determining whether to install the hottest technological trend.

As a result, the wow factor for such improvements is short lived. New tech moves from upgrade to standard feature in the blink of an eye.

Keeping Up is No Longer Optional

A new reality where fresh home technology hits the market at blazing speeds means updates must maintain a similar pace. Unlike style and décor that have the potential to be timeless, technology goes obsolete—and homes featuring obsolete installations are naturally less desirable.

Furthermore, luxury homeowners are in constant contact with emerging advancements. It’s only natural that they’d like to experience the same amenities they find in 5-star hotels and opulent office buildings in the comfort of their own homes.

The New Reality

The point here is not to paint a picture where luxury homeowners face an impossible uphill battle against technology. “Quickly” in terms of real estate simply means years instead of decades.

Whereas new marble countertops will retain their luster indefinitely, a state-of-the-art home theater will not. Technology begins to lose its allure as soon as it’s removed from the box. This isn’t a fact to fear but a reminder to keep a watchful eye on the tech in your home and to stay ahead of the game if you plan to list your luxury home within the coming year.

Technology is changing luxury homes by forcing owners to contemplate the concept of “up-to-date” on a different level. Upgrades that are selling points in the sub-$1M market switch roles on the higher end, swinging from appealing extras to potential black marks if they are missing.