Charleston’s strong job growth and above-average share of millennial residents has made the city one of the 10 best markets for millennial homebuyers, according to the National Association of Realtors.
NAR analyzed employment gains, population trends, income levels and housing conditions in the largest 100 metropolitan statistical areas across the country to identify the best purchase markets for millennial homebuyers (see news release).
What are Millennial Homebuyers Looking For?
Millennials are nearly twice as likely to purchase a smart home, or add smart home products after they move in. According to a Coldwell Banker CNET survey, 85 percent of millennials would be more likely to buy a home if smart technology was already installed.
Products millennial homebuyers are the most interested in are connected home cameras, smart thermostats and connected lighting. This is according to iControl Networks’ 2015 State of the Smart Home report.
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What Does This Mean For You?
Your home is likely your largest investment, so you want to get the highest return on your investment, right? If you live in a home or neighborhood that may appeal to millennial buyers, smart home technology is a small investment that could pay off big.
Imagine potential buyers dimming lights and controlling the thermostat in your home during an open house. Smart home technology could be the selling point for your home.
Lighting control can be added to a security system for less than $100. A smart thermostat is less than $200 and saves QEI Security & Technology customers 10-30 percent on their energy bills.