Millennial Home Buying: Focusing on Tech and Convenience for Better Living

Kiran Reddy, Managing Director & CEO Bricks & Milestones

As millennials  grew up with technology at their fingertips, they are frequently referred to as “digital natives.” Their lives are significantly impacted by technology.

High-speed internet access, integrated automation systems, and intelligent home features are important to them. In order to satisfy the demands of tech-savvy millennial customers, builders and developers are implementing these technical innovations.

With just a single query, voice-activated assistants such as Google Assistant and Amazon Alexa can manage lighting, appliances, and even music in smart homes, freeing up time and energy for other activities. Micro-living apartments frequently incorporate automated blinds and smart thermostats.

Millennials, who grew up in a digital age, expect their homes to be as smart as their gadgets. Unlike older generations, who may consider smart home technology a luxury, millennials see it as a necessary feature to make their lives easier and more aesthetically pleasing.

In addition to smart home features, real estate companies are increasingly adopting digital innovations in the sales process to cater to tech-savvy millennials.

Interactive screens at sales offices allow potential buyers to engage with master plans, compare floor plans, and virtually explore properties, offering a seamless and hands-on experience. We developers are also going completely paperless in our sales processes, aligning with the expectations of this digital generation.

For instance, smart thermostats lower energy bills by adjusting the temperature based on usage patterns, while connected security systems offer peace of mind with real-time alerts and remote monitoring. These features are especially appealing to millennials who value sustainability and environmental consciousness.

The flexibility of spaces is also enhanced by smart home technology, which allows millennials to remotely control lighting, temperature, and even appliances.

For instance, a living room can be transformed from a place to unwind to a home theatre by simply turning on the surround sound system and dimming the lights.VR tours, personalised property recommendations, and blockchain-enabled safe transactions are replacing traditional property visits because they promote a seamless digital experience throughout the home-buying process.

To further enhance the home-buying experience, real estate companies are using drone technology to create overlapping shots of the project’s location, master plan, and elevation.

These aerial visuals provide an immersive experience for millennials, allowing them to better understand how the development will blend with its surroundings, providing a rich and realistic perspective of the project before making a commitment.

The 2024 RE/MAX Future of Real Estate Report estimates that 41% of Gen Z and millennials use social media to learn about real estate. Additionally, two out of three of these 18 to 43-year-old real estate buyers believe that social media agents facilitate the search for houses and provide quicker access to information on the home-buying and selling procedures.

The real estate market is being significantly impacted by the tendency of millennials being the first generation to fully adopt smart home technologies. These days, homes are more than just places to live; they are networks of interconnected gadgets that improve the efficiency and convenience of daily chores.

Additionally, by providing ease and flexibility, smart homes support millennials’ increasingly hectic lifestyles. The need for smart houses is growing as millennials look for residences that accommodate their tech-driven, fast-paced lifestyles.

These areas’ multipurpose appeal is increased by the smooth integration of technology, which also enables millennials to make the most of every available square inch.