Canadians would pay for smart home tech: survey

Wednesday, April 20, 2016

A recent survey commissioned by Telus finds that 43 per cent of Canadians would be willing to pay more for a home that features the newest smart home technology. Of those, 51 per cent said they would pay up to $5,000 more, 23 per cent would pay up to $10,000 more and five per cent said they would be willing to pay over $10,000 for that new technology.

Canadians also said they would pay more to stay connected. The survey found that 39 per cent of Canadians would be willing to pay a higher price for a home located in a neighbourhood that is connected to a high-speed, high-capacity fibre optic network. Of those, 41 per cent would pay up to $5,000 more for better connectivity, while 13 per cent would be willing to pay up to $10,000 more. Six per cent of those respondents would be willing to pay over $10,000 more for a home with excellent connectivity.

These findings support previous research conducted by the Fibre to the Home Council Americas, which found that a fibre connection can increase the value of a home by 3.1 per cent. In addition, 35 per cent of respondents valued connectivity over convenience, saying that when purchasing a home, they would prefer to live in a fibre-connected community instead of having a shorter commute to work.

The survey, which was conducted by MARU/VCR&C on behalf of Telus, found that 61 per cent of respondents believe that smart home technology will benefit their lives, although only 34 per cent of respondents currently own a smart home device. However, 63 per cent of people believe that they will own at least one smart home device, such as a thermostat, lighting, appliance or security system, by 2018, with half of those people predicting they will own three devices or more.

“Smart home technology is shifting from early adopters into the mainstream as Canadians begin to realize the tremendous benefits that these devices can bring to them and their families,” said Rob Currie, vice president of mobile devices at Telus, in a press release. “Today, we’re seeing basic functionality like controlling lighting or thermostats from our smartphones, but soon, innovations like biometric security systems, intelligent kitchens and home health solutions will make our lives so much safer, healthier and easier that smart home technology will become integral to our digital lifestyles.”

Other key findings in the survey include that the greatest perceived benefit of smart home devices include saving money and being kinder to the environment (57 per cent) and increased security (44 per cent). This is also key for people that travel frequently, as 56 per cent said they would purchase smart home devices to provide peace of mind while they are away from home.

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