Younger buyers are leaning towards a move-in ready scenario when shopping for a new home as older homes take time and money to restore. When younger buyers consider new builds, technology is as important as utilities. Millennials represent 37% of new home buyers and are looking to fast-track their homeownership plans due to the changing needs of young families during the pandemic.
In a 2019 survey, 43% of respondents from younger age brackets selected tech compatibility as the main focus of their choice for new builds. “Making sure homes are ready for wireless means that, when homeowners move in, they can simply activate the services with an app instead of waiting for installation,” says Guillermo Rivas, director of Cox Communications who conducted the survey.
Integrating technology into the original build plans is far easier and cheaper than trying to integrate systems post build. When the home comes wired for technology, it offers greater appeal and developers can charge a premium for homes that are tech ready.
Top tech requirements include:
- High-speed fiber-to-the-home/broadband internet. This means homeowners can work remotely, their children can study online and they can enjoy streamed entertainment.
- Wireless connectivity that extends to outdoor areas like pools and gardens is a plus.
- Smart devices are a great selling point like thermostats, door cameras and light switches.
“Appliances such as smart thermostats, smart doorbells, and more that can be controlled from an app are all the rage,” Kerron Stokes, a real estate agent with Re/Max explains. “Connectivity is king when putting a house on the market these days.”
What this practically means for construction professionals is that the home must be wired with Category 6A or fiber cables to support wired and wireless technology.