Over the past few years, technology has taken centre stage in our lives. We are witnessing an insatiable dependence on technological innovations that help us make our lives simpler. Whether entertainment, education, finances, travel or wellness, we stay hooked on our personal devices and the internet at large to help us manage our daily activities. The impact of technology can be felt in the real estate sector as new age homebuyers are inclined towards residential projects with innovative digital amenities.
The younger generation tends to invest in skill development to help them progress in their careers and lives. Several such pursuits are enabled through internet-based platforms like apps and websites. The pandemic brought along with it a sense of uncertainty which propelled this generation to invest in homes as well. It has brought a positive change in the mindset of these individuals towards real estate, who until recently were primarily opposed to the idea of buying a home. With a steady rise in income, availability of multiple residential options, and easy availability of finance, the young generation is purchasing houses that fulfil their modern-day needs.
This new real estate customer base comes along with its own unique set of requirements that revolve around tech-based amenities. Today, buyers are increasingly opting for smart living solutions that provide a greater sense of comfort and improve their overall lifestyle.
These buyers prioritise home automation over opulent interiors and lavish amenities. Apartments that facilitate touch-enabled interfaces to control the lighting of the house and multiple electronic appliances like air-conditioners and television sets among others, are preferred. In terms of security, buyers now prefer smart locks enabled with biometrics. It is ideal for them to have security systems integrated with Emails and have dedicated mobile apps for the residential project.
Another interesting emerging trend is the increase in the demand of society or project related mobile applications. Developers are now coming out with their own hyperlocal apps that help their residents book multiple facilities or use amenities around their project. Customers now prefer to book key facilities like workout sessions, indoor sports, and other similar activities from an app itself. It will be ideal for the customers if these apps include features like digital pass to verify domestic help, home maintenance staff, delivery agents and guests as well.
Apart from these amenities, buyers also expect technological advancements to assist their house hunting phase. The present generation of homebuyers prefers to search from the comfort of their homes or offices. They like shortlisting multiple properties based on their requirements from numerous online platforms and then having virtual tours to help them decide.
Lastly, buyers have become more conscious about the environment. Over and above the hi-tech amenities, they are also concerned about their home's environmental impact and overall energy consumption. New age technologies that ensure the adoption of green building practices are also growing in demand among customers. Amenities like using carbon neutral solar panels, renewable raw materials, and recycling and replenishing bio waste also greatly influence the choice of property.