What Millennials Want in a Home
September 29, 2017
It comes as no surprise that upgrading your home to fit the right demographic is paramount to attract the right people. The upgrades that worked well in the past (new flooring, paint, plumbing) might not cut it for the millennial market. So how can you appeal to this ever-growing generation? Consider home automation to sway the new buyer into buying or renting your property.
The current strain for the housing market is that millennial home seekers are seen as a different kind of homebuyer or renter. The opportunity is out there for well-informed property owners to capitalize on the millennial mindset and turn a healthy profit in the process—but how?
When it comes to the housing market, it’s important to fully grasp what your key demographic is looking for. According to one study, four in ten millennials want to live in a smart home. As homebuyers become more and more in touch with technology, the old ways of marketing and upgrading your property may be too antiquated.
If you are selling or renting your home in an area mainly populated by the millennial market, then home automation upgrades can offer huge advantages.
Smart homes are all about ease of use and ultimate control. In a nutshell, a smart home is any home that has technology that can be remotely controlled and set using your computer, smart phone or tablet device. So, how can you translate this technology into tangible home upgrades?
There are numerous products and options for you to consider—lighting, home security, locks, and video surveillance to name a few. Millennials will immediately see value here; their hectic schedules and inherent fluency in technology will make them happy to see any upgrade of this sort.
Additionally, appliances still factor heavily into the minds of potential homebuyers and renters. Many young homeowners won’t even consider a home that has outdated appliances. Thankfully, there are many options on the market—and the appeal to the millennial buyer or renter is priceless.
Millennials thrive on the ability to access everything they can with their smartphone at any time. The millennial generation was raised in front of screens of all shapes and sizes, able to access information at any time in any place, and they are the fastest growing generation aging into the homebuyer’s market.
According to a study conducted by FDMC, called “Home Factor,” “Almost two-thirds (63 percent) of millennial respondents surveyed say that having a home customized to their tastes and needs is a top priority.” And “Millennials agree that smart technology is customizable to their needs (74 percent), makes their homes more energy efficient (70 percent), and saves them time (67 percent).” With those numbers, it’s easy to see why home automation can make the difference in reach that sought-after millennial audience.
Along with automated security, lights, and locks to name a few, ADT can outfit any home with their home automation products to give this discerning generation everything they need and want.
If there’s anything millennials crave more than flexibility and customization, it’s sustainability. It should be no secret that millennials have adopted an energy conscious and sustainable worldview. The great thing is that by outfitting your property with home automation upgrades, you can appeal to both needs and wants.
A smart security system will not only act as a deterrent for burglars and break-ins, but it also allows users to save energy. This is because many smart security solutions feature a lighting component, which can be used to time when lights are on/off. This is just one example of a dual solution that will spark the interest in millennials.
Get the most out of home automation with ADT and Nest. Nest smart thermostat actually learns the workings of any household and adjusts temperatures based on that behavior. Along with smart thermostats, total home automation from ADT is easily controlled with the Pulse app—the only control you need to ensure your smart home runs smoothly and efficiently based on your (or your tenant’s) needs.
The bottom line is that if you are going to effectively target the millennial market, you should consider investing a healthy chunk of change into your existing property. However, every upgrade you invest in will lead to more millennials who will be interested in your property.
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