With the onset of COVID-19, everyone is rethinking their home’s role in helping them live better lives.
Nowadays, we're spending more time at home. The blurring line between work and family is causing us to realize just how important it is to be in surroundings that promote comfort, wellness, and productivity. As a result, interest in having a smart home is ramping up.
The right smart home features can make our lives more comfortable and convenient, create safety and peace of mind, and increase our overall feelings of well-being.
For these reasons, it’s no surprise most people believe moving into a smart home—or making their existing home "smarter"—will lead to that better life.
Why Millennials Believe a Smart Home is Key to a Better Life
People between the ages of 25 and 44 (Millennials) have different motivations for adopting smart home technology, but they share a common goal. They see it as a way to make their lives simpler and better.
They are the most interested in how smart homes can better their lives. And, we can learn a lot from this group about how and why smart homes are becoming standard across the world:
- Households with an income of $100,000 or more are 2.5 times more likely to have smart home systems and three times more likely to own multiple devices.
- This group is most likely to be buying or upgrading their home.
- They care more about how they are perceived than other age groups and want to be seen as eco-conscious.
- They are willing to pay more for “green” products that help them walk the walk and not just talk the talk.
- People 25-44 living in urban areas and families living in suburban areas are most focused on security.
- Features like connected thermostats, connected smoke detectors, smart lights, and connected locks are at the top of their wishlist.
- This age group, in general, is also more budget-conscious, wanting high value for the money they are investing.
Smart Home Features and an Improved Quality of Life
Quality of life means different things to different people. Each of us values unique aspects of our lives above others, but we share several things in common as humans.
We all want peace of mind and safety. We wish our lives to be as convenient and stress-free as possible. We seek wellness and calm, no matter how hectic daily life gets.
And it’s been undoubtedly hectic this last year with COVID-19 affecting all of us. As a result, we are increasingly more likely and willing to spend on smart home features, especially since social interactions and everyday life away from home have been paused.
For more on what homebuyers want in smart home features, read our report "3 Reasons Why Homebuyers See Smart Home Technology as a Lifestyle Upgrade."