Smart home building techniques have appeal across demographics, and will soon become “standard”
By ADAM TRICULIS
Conventional wisdom may tell you that the millennial generation (of which I’m a part) doesn’t have a lot in common with other generations. But when it comes to what I want out of a smart home, it turns out I share the same expectations as other generations.
In fact, 60% of consumers want a professional to install their smart home systems. Why? Because consumers want to know it is installed correctly and works the way it was designed.
Resideo is leading the way in residential smart home solutions, and we work with a network of more than 110,000 professional installation companies who are experts in home automation and security installation. Our pros handle the installation, so homeowners can focus on living their lives.
By 2022, the smart-home market is forecasted to include nearly 1.3 billion devices. With tech-savvy millennials as the biggest home buyer demographic, what can you do as a home builder to prepare for the upcoming demands for smart home technology?
Here are some thoughts from a guy who’s an avid technology user, a recent first-time home buyer and a professional in the smart-home industry.
Understand why people want a smart home.
According to a National Association of Realtors report, the smart home market is expected to become a $130 billion industry by 2020. While home ownership is highest among people 65 and older, people under age 37 are the largest share
of home buyers. Many of them, like me, want a smart home to go along with their smart phones, watches and cars.
When I was house hunting earlier this year, most of the homes didn’t have smart home technology, but I knew I’d add it to any home I purchased. I plan to start with smart lighting, door locks, one of Resideo’s smart thermostats and our whole-home security system.
Don’t forget about the generation of, “there’s an app for that.”
Right behind millennials are Generation Z, born between 1995 and 2010. They are the first “wireless” generation. This generation has been surrounded by technology since birth…they don’t know a life without apps for everything from buying coffee to curating their Instagram content.
They are digital natives who will want, and expect, smart home solutions that integrate into one seamless app.
Finding ways to save money will never go out of style.
As the smart home device market grows, so will consumers’ understanding of how these products help save money. For my generation and the ones to come, the focus on energy management is only going to intensify. Reducing our environmental footprint through products that help us manage our energy usage – no brainer.
And it goes beyond energy savings. A home security system or water leak detectors can potentially get homeowners a discount on insurance premiums, not to mention alerting them to situations before they get to worst-case. As more people understand the financial benefits, you can bet smart home products will be at the top of home buyers’ “must-have” list.
If you build it, they will come.
It’s evident that the smart home market is about to boom. Builders have a huge opportunity to be at the forefront – to partner with professional installers to build houses with a smart-home hub, giving home buyers the infrastructure they need to customize the smart home that they want. A builder could offer the smart security hub standard in every home with a thermostat, front door lock and smart lights, and buyers can add other devices, like water leak detection, to fit their needs. Focusing on what will become the “standard” is important. A smart thermostat is becoming a baseline product, because there is direct, tangible value homeowners can see every month when they look at their utility bills. Why not build a house with it already on the wall?
When moving into a brand-new home, buyers want everything done, and done right. They don’t want to mess with running more wires and power. Instead of focusing on the installation, homeowners can focus on the mobile app and the convenience that comes along with controlling smart home devices from their phones.
As millennials keep buying houses and Generation Zers soon follow, whole-home monitoring solutions and energy efficiency will become table stakes. Most homeowners prefer the do-it-for-me approach, and nothing meets that need more than a home that is already wired and ready for the smart home revolution. So, start networking with installation pros, find your partner and get to work. The smart home of the future is the one you build today.
Adam Triculis is the Channel Marketing Manager at Resideo. If you’d like to learn more please go to www.resideo.com/us/en/.