When it comes to first time home buyers, millennials are entering the market looking for houses for sale that boast all types of cool and useful tech gadgets. Today the Junk Mail team looks at not only property for sale, but talks a little more about home automation, millennials and the types of homes they are into.
Who exactly are Millennial Buyers?
Millennials are a digital savvy generation, made up of those falling into the 18 – 35 age bracket. They are generally well educated and have grown up immersed in the world of technology. Constantly being connected to devices, be it a smartphone, tablet or laptop means that millennials are used to having a host of technology and range of apps that simplify and make life easier.
What Millennials are looking for in property for sale
Maximising ease of use and always being in touch and on-the-go translates into every area of life, from work to home. This is one of the many reasons they find the idea of a smart home and the benefits it offers so appealing.
With their unique skillset, interest in technology and wide range of interests, all this hugely impacts these first time homebuyers and what they look for in homes for sale, with a sharp increase in demand for smart homes.
When shopping around for houses and smart homes, it is vital to have a mix of features. Lights, cameras and other automated devices are an attractive option to these digital savvy consumers.
The rise of various products for overall home automation are becoming more and more of a reality across the world and markets.
A strong trend with millennials is seeing home ownership as an investment, with many of them buying to renovate, automate and sell for a profit. Many millennials are happy to find property for sale and own for a short period of time and move onto the next option. This impacts where and how they buy, with city living, as opposed to the suburbs, being a priority for most millennials.
City living is highly attractive with its proximity to work, home and areas to enjoy. The demand for homes within cities has been driving the prices up and millennials are ready to jump on board and get a foot into the housing market, with the possibility of selling at a later stage.
Home automation and the perks that come along with it
With a range of houses for sale, millennials are attracted to either buying a smart home or creating one for a number of reasons. They are also willing to pay extra for the additions and automation. These additions often include the likes of integrated security features, light solutions, heating and cooling systems and digital locking; all of which can easily be controlled from a smartphone or tablet.
When it comes to property for sale, Millennials are attracted to the convenience and high-end devices that can ensure security and peace of mind, knowing that systems can be controlled remotely or while at home.
Much of the new technology and range of systems can be quite expensive and often are a trend among more affluent millennials. However, there are many home automation systems that are affordable and require a much smaller capital outlay, making them appealing to a broader market.
Home automation and smart home technology
Controlling a house and all of its functions with the click of a button, home entertainment, security and peace of mind are top features of smart homes.
Overall, millennials are leading the charge with the desire to invest in homes for sale that can allow for increased automation.
With a range of home automation systems and tools on the market, from home security systems to voice controlled systems, as well as lighting and heating ranges, the options are endless. Many of the systems are in their early stages and set to fully integrate within the foreseeable future.
Smart home security systems are increasingly popular, allowing you to track and monitor exactly what is happening, at any time. The set up usually consists of a camera, contact and motion sensors, so you can keep an eye on and track the changes at home. If something goes wrong, notifications can be sent and relevant authorities dispatched, depending on the situation. The system also enables you to activate and deactivate your alarm systems by using your smartphone, for an increased value when it comes to houses for sale.
Smart lighting and heating are other key features of smart homes. With smart lighting, all elements can be controlled through an app, device or system that allows for remote functionality- controlling the lighting from anywhere in the home. The same principle applies to smart heating systems, with an added benefit. Smart heating systems often include smart energy meters for tracking and measurement of energy use, across the home.
As for entertainment, Amazon’s Echo has proven to be a popular addition to the smart home. The hands free, and voice controlled, speaker has a range of options to make the most of music, entertainment and news. Making use of far-field voice recognition you can stream music, follow the news, sports and traffic and change it by simply asking to switch. The voice recognition doesn’t end there, being able to control compatible lights and switches throughout the home with it.
Key players like Google and Apple are also getting into the space with their various offerings, hoping to maximise on the trend. Apple’s HomeKit, which is set for release, allows you to control and communicate with various devices and systems within the home. You can configure and create options and use the voice activated Siri to control it all.
As for Brillo, also set for release, it is an operating system that works along with Weave, and has similar functionality to Apple’s HomeKit. It allows you to control and communicate with many connected devices.
With the rise of smartphones and systems like HomeKit and Brillo, it is almost an eventuality that you will be able to operate any, and all, appliances or electronic devices within a smart home – from the TV to lights.
As a whole, products and systems that are helpful, save time and allow for engagement are hugely popular within the space. The overall key factor with smart homes is to have all systems working together for a cohesive and immersive experience and maximum benefits.
Old vs New Houses For Sale
These new and innovative technology features found in smart homes vastly differ from older homes in simple, yet fundamental ways.
Older homes don’t have intricate systems for lighting, heating, entertainment and ease of use and this is where smart homes hugely differ. With the ability to control and communicate with a range of different devices and systems, smart homes far outweigh their older counterparts through ease of use and engagement.
With all the new systems and overall home automation, it hugely influences the market value of homes for sale.
The National Association of Home Builders reports that having a home automation system could potentially increase the home’s resale value by around 3-5% and in some cases by up to 7%. Security systems are often highlighted as one of the popular systems to install, alongside those that are energy efficient and offer a convenience factor.
As smart homes are becoming increasingly popular, millennials, among others, are seizing the opportunity to add value to homes, making their resale value much higher.