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Millennials crave technology upgrades with first home purchases

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How should builders plan to win the affections of millennials when the 18-to-34 years olds decide to buy their first home? Built-in technology upgrades are a good start.

We have written about thermostats and door locks that can be operated with a smartphone and kitchen appliances that communicate with one another through WiFi and Bluetooth to conserve energy. No one questions that homes are getting smarter with technology. The difference with millennials, though, is that would-be-nice-to-have gadgets are more like can’t-imagine-going-without necessities.

According to Builder Online’s Jean Dimeo, millennials and their love for technology was a hot topic at the PCBC confab last week in San Diego:

“Several home builder executives … said during a PCBC educational session that millennials want built-in technology, such as iPod docking stations, and home automation systems that control lights, heating and cooling, appliances, and more … The panelists also noted that millennials have increased interest in tech options because mortgage interest rates are so low, allowing them to afford higher-priced upgrades.”

Translation: If you want to attract the younger buyers, prepare to build more homes equipped with state-of-the-art gadgetry and smart home tech features.