How Electric Vehicles are Impacting the Real Estate Industry

By Courtney Christensen on October, 30 2020
Back to main Blog
Courtney Christensen

Whenever there is an advance in technology that changes the way we live and work, the real estate industry is always affected. It's commonplace now to find eco-friendly appliances in every home. Internet hookups can be located in more than one room of the house. So when electric vehicle sales started to skyrocket, the housing market needed to make some changes.

Owning an electric vehicle still isn't the "norm," but it's not rare, either. Likely, electric cars will eventually drop in price and become available to the masses. When that happens, real estate better be ready for it. Why? Because most people prefer to charge their cars at home. Having to drive to a charge station is impractical – you wouldn't travel to another location to charge your phone, would you? Having a charge station for an electric car in a home will become a necessity for reselling that home in the future.

When home shoppers look at buying a home, they often have a wish list. Some items on the list are "must-haves," while some are just extras. If you own or plan to own an electric vehicle, a charge station in your garage is not going to be an "extra." It's a must. Real estate agents should advise their home sellers to add this feature into their home before selling it to appeal to more people.

So, too, should owners of vacation properties like Airbnb consider adding in a charge station. In the not-so-distant future, it will be an expected feature of any vacation rental, particularly if the vacationers are planning to do a lot of traveling in the area.

Are you planning on building a new home soon? Have a charge station added. You may not need it now, and maybe you won't ever need it, but if you want to resell your home in the future, it will create an advantage for you.

In conclusion, electric vehicles are becoming more popular than ever before. With it comes the need to charge these cars at home. If you want your home to stay ahead of the real estate game, be sure to add on this feature before you sell it!