Just a few years ago, prospective homebuyers viewed smart homes as a luxury only afforded to those with a high level of technological knowledge or those with deep pockets. The term “smart home” conveyed a notion of unnecessary complication. However, today, nearly every homeowner and buyer desire home automation features. From first-time homebuyers to retirees, consumers of all ages are increasingly expecting smart home products in their new homes.
According to a 2017 trend report by the National Association of Realtors, the presence of home automation products in homes does indeed span generations. Specifically, 43 percent of Americans with smart home products are millennials, 33 percent are aged 33 to 54 and 24 percent are aged 55+. This interest is largely spurred by the increased security and convenience connected homes bring. Smart locks, doorbell cameras and scene automation add security, and the ability to control all of these products and automations from a smartphone is both convenient and simple.
Smart home features also add to a home’s overall market value. In fact, according to the Consumer Electronics Association and NAHB, smart features can increase a home’s final closing price by three to five percent. Not only do these smart devices add value, they are also becoming increasingly affordable.
While many consumers buy home automation products for the “cool factor”, others are jumping in for different reasons.
Other Consumers Buying Smart Home Products
- Parents. Smart homes provide a heightened sense of security for growing families. They allow parents to monitor their children from a distance. From “nanny cams” as young children to monitoring the comings and goings of older children, cameras and other smart devices allow parents to keep track of their children’s well-being.
- Seniors. For retirees with multiple homes, smart home products allow you to monitor all aspects of the unoccupied home from a distance. For those living in retirement communities, smart locks grant easy access to caregivers and family members.
- Landlords. Rental property owners can grant maintenance personnel their own codes to enter properties. They can also delete and add new codes between tenants. There is no need to completely switch out entire locks.
Contact IQ Home today to see how smart home products can increase your home’s value, while adding convenience and security to your daily life.