Smart home technology is rapidly emerging as one of the top priorities for millennials when purchasing a new home. Millennials’ hyper-connectedness to technology has changed how they think about home ownership and their expectations for their future homes.
They Want to Save Energy
Millennials are a generation that is very interested in sustainability and green living. As a result, people are more inclined to purchase houses with amenities that promote an eco-friendly lifestyle and energy-saving technologies. Smart home technology is an excellent way for homeowners to save energy, reduce their utility costs, and improve the quality of their lives. They can use it to remotely control their heating and cooling systems, lighting, and small home appliances. It’s also a great way to keep tabs on their kids, elderly parents, and pets when they are away from home. It allows people to monitor their homes from anywhere using an app or mobile device. Several reputable home builders said Americans are primarily optimistic about innovative home technology. The convenience of the products topped their list of reasons for wanting to adopt them, followed by safety and security.
They Want to Save Money
Millennials have been known to be environmentally conscious, and smart homes are an easy way for them to save energy. They also want to control their home security systems, heating and cooling, lighting, and appliances from a single app. This makes them more likely to pay extra for a home with these features. They can deduct some of these expenses from their mortgage and get a tax rebate when they purchase a smart home.
However, many millennials were initially wary of owning smart devices and have taken time to become comfortable with them. They have been influenced by the current world events that have shaped people’s lives and are looking for ways to improve their safety, security, and comfort with smart technology.
They Want to Save Time
Homeowners can use smart devices to control lighting and appliances to automate their security systems. Many smart devices are also designed to reduce power consumption, helping homeowners save money on their energy bills and help protect the environment. Smart technology’s convenience and savings are why many people buy these devices. And millennials are especially attracted to new tech. A recent survey found that most US consumers have at least one smart device in their home, including thermostats, doorbells, lights, and more. And nearly half of those surveyed said they had plans to purchase more smart devices. Despite many Americans’ initial skepticism about owning a smart device, most say they like it now and would recommend it to their friends or family. Millennials have more positive sentiment than any other generation, with 86% saying they would pay more for a home that has smart tech.
They Want to Have Control
As millennials enter the home-buying age and gain purchasing power, they look for homes with smart technology. These homes let them remotely control heating and cooling, lights, and many small home appliances.
One reason why many millennials are buying smart homes is that they want to save energy and money. They’re also aware of the environmental impact of their habits and are willing to change them to help protect the environment.