As more millennials begin to settle in homes within neighborhoods, builders and developers have begun to wonder whether they are interested in smart home features. Many would think the tech-savvy generation would definitely be intrigued by any type of technology, but that may not be the case. Forbes’ Andrew Arnold says the older segment of the generation, aged 27 to 36, is “sold” on the technology and has already started incorporating it into their new homes, but the younger segment does not seem as interested.
There may be several reasons for this. One, this younger segment appears to be very security conscious and is concerned about the risks involved in IoT devices in their homes. They worry about privacy.
There is also the cost factor – configuring a smart home can be pricey.
The other key factor in home buying for the younger segment of this generation is mortgage cost and payments. These young people are closer to the college loan payment issue than their older cohorts. They are not looking for smart homes as much as they are looking for the most favorable lending environments.Read More