Who is Buying Smart Homes and Why?
Change is constant and that holds true for the housing market as well. Home buyers' demands change with current trends, and technology has been making huge leaps in the past 20 years. According to a survey of almost 22,000 home shoppers by John Burns Real Estate Consulting, home buyers rank smart technology as a high priority when searching for a home, and are also willing to pay thousands of extra dollars for it. Millennials are the most tech-savvy generation and now also make up a large portion of the home buying population. That means understanding their wants and needs are very important, but they are not the only ones with interest in smart homes.
Millennials account for 34% of home buyers with more and more reaching the average home buying age. This makes them the generation to keep an eye on because an outstanding 47% already have smart products in their homes. Not only are they already testing out the tech smart homes have to offer but they love it. In fact, 91% recommend it and would like to buy more. Home automation has never been easier and that’s why the convenience and savings are luring in more than just Millennials in the search for the perfect dream home.
Being able to do things easier is also resonating with the Baby Boomer generation. Voice automation in smart voice technology has really changed the game with the luxury of doing tasks without lifting a finger. Alexa and Google Home’s AI assistants have helped many people get into smart products by having everything in their house connected over a wireless network. This feature of being able to control devices without a small smartphone screen or remote creates endless possibilities for the future. You can control things such as TV’s, Netflix, the lights, locking the door, playing music, calling or texting friends and family, control the temperature of the house with a smart thermometer, and so much more.
Seniors have also started integrating smart home systems into their homes or senior living communities. Smart homes can help the elderly remain independent longer and assist with monitoring their safety as they age. People with disabilities can benefit from smart technology by having it perform tasks for them that ordinarily would have been hard or they would have been unable to do on their own. This could range from simple features such as turning appliances and lights off and on to
Why buy a smart home?
Are the fancy upgrades really worth it? Will I be investing more money than I will be saving? What is the real value? These are some of the questions many people considering upgrading ask themselves. With all the money and decisions that go into purchasing a new home you want to make sure you’re making the right decision, and here is why a smart home is
A smart home is an investment that you want to see a return on. They include all kinds of technology but one of the biggest money savers is in heating and cooling automation. Almost 50% of a home’s energy use is going to heating and cooling and some smart climate systems, like Nest, are so energy efficient they pay for themselves in less than two years. The second largest use of energy is lights and a smart home can easily adjust the brightness and turn these on and off to conserve energy.
Home security has always been a priority and it has gotten more advanced with security systems that work so well they can help lower home insurance rates. Having a home security system deters robberies by showing your home is protected and you receive immediate responses from the companies or smart devices giving you peace of mind that your home, family, and belongings are safe.
Lights, climate systems, appliances, and other smart features make it easier to turn off everything you are not using or adjust it to be more energy efficient. Even while you are away you can make sure your house is locked and that you didn’t forget to turn off the lights. This not only helps you save money but wastes less energy and is better for the environment. Going green is a passion for some and just a bonus for others but it is growing in popularity. An impressive 83% of Americans plan to look for opportunities to live more sustainably and smart homes are a great way to reduce energy use. According to a Neilson global online study, almost 75% of Millennials are willing to pay extra for sustainable offerings, and Generation Z is also committed to positive environmental impact. More and more people are becoming enthralled with the benefits of home automation. Younger generations, and upcoming home buying force, are conscientious of their energy consumption and will be looking more and more for houses that support energy efficiency.
Why do the work on something when you can pay a little extra to have it already done? Houses with automated home services also sell over houses without them. If you are looking to sell having smart technology can make your property stand out amongst the rest with 54% choosing a smart house over an identical house without smart technology. Most home buyers want a house that is already updated and ready for them to start living their lives. In fact, 71% of American buyers want a house to be “move-in-ready”, 81% of those with smart home products would be more likely to purchase a home if smart home technology was already installed.
Smart homes are for every age and can be used no matter your experience level with technology. With easy step by step installation and instructions getting everything set up is painless and quick. It is easy to see the benefits of saving money, home security, and convenience that smart homes provide. The best thing about smart technology and its automaton is once you get everything connected and working it starts working for you.