10 Aug Millennials are buying smart home designs
The Millennial generation came of age during a time of phenomenal technological change, and it’s no surprise that as they buy homes, they’re choosing designs that accommodate their increasingly digital lifestyles. Real estate investors would be smart to keep this trend in mind when choosing investment properties.
These days, it may not be the kitchen or bathroom that sells a home so much as its ability to support Wi-Fi connected technology — TVs, appliances, lighting, heating/cooling systems and smoke detectors. They like the option of controlling all these from a phone or tablet, whether remotely or while in the home.
Voice-controlled systems are increasingly in demand as indicated by a 2017 Smart Home Marketplace Survey. Some results:
- 72 percent of Americans who have smart home products want voice control.
- 48 percent of Americans who have smart phone products currently have voice control capability.
- 58 percent of Millennials have smart home products that already have voice controlled features.
- 43 percent of Americans with smart home products want the feature for entertainment purposes.
Real estate developers selling to millennials might consider focusing on “connected” homes, as they are designed for the way millennials live their lives today. These homes foster their passions, hobbies and home life as part of a connected community. Technology is not Millennials’ only interest, however. Many of these buyers want dog-friendly homes! They also want their homes to have character.
Barsh & Cohen, P.C. is a boutique law firm that can assist with commercial and real estate lending, construction and secured lending, conveyances and mortgages, title services and more. Contact us today for a consultation. We are here to help with all your legal needs.