Today’s millennials are slowly becoming homeowners, and those homeowners are turning to home security systems to get the smart home technology they crave. According to Fannie Mae, cohort analysis shows that the pace of young-adult home purchases accelerated substantially during the economic recovery, beginning first between 2012 and 2014, and then quickening further from 2016 on.
Evidence Tying Millennials to Home Security
There’s evidence that millennial homeowners are increasingly using home security – and if they aren’t using it, they’re looking forward to learning how they can. Take a look.
· 41% of millennials surveyed state that they are aware of and interested in owning smart home products (source: Inman).
While modern home security is a more proactive way to detect and respond to a wide range of threats and issues to the home, it is also a more advanced way to save energy, pay less for home utilities, and manage a household – all of which matter to millennials.
· 86% of millennials would be interested in renting a home if it were already outfitted with smart home technology, as opposed to buying one that isn’t (source: Curbed). The most cost-effective way to implement smart home technology is via a home security system, like the cameras, detectors, and sensors that comprise smart home technology are easily integrated with home security.
· 54% of millennials now shop online (source: ComScore). To assure their doorstep packages are secure, young professionals can turn to security systems with smart home technology built in. There are doorbell cameras and smart locks that can be purchased and integrated into the system.
Other Ways Millennials Use Home Security
While modern home security is a more proactive way to detect and respond to a wide range of threats and issues to the home, it is also a more advanced way to save energy, pay less for home utilities, and manage a household – all of which matter to millennials. When an integrated smart thermostat is included, young homeowners can conserve energy for a greener lifestyle and pay less for electricity and gas.
When they take advantage of remote access to their home security systems, millennials can arm and disarm their systems from their smartphones rather than take time to punch the wall keypad before leaving. They can also turn lights on and off, open and close garage doors and check on their security cameras entirely from their phones. For a generation that places a premium on convenience, these are valuable perks.
These are some of the ways millennials are using home security. For more ideas, contact F.E. Moran.
About F.E. Moran Security Solutions
Since 2003, F.E. Moran has been a relationship-driven security company that provides superior customer service, quality installations, and state-of-the-art monitoring – and now, our services include smart home upgrades. We are proud that one of the top 50 security companies in the U.S., ranked by SDM Magazine, is our home security in Illinois.