As buyers continue to integrate high-tech systems and services into everyday life, developers should be considering the benefits associated with built-in connectivity. Merging traditional security features with IoT technology may prove a winning strategy for both builders and buyers of the future—but the complexity can seem overwhelming. How might we cut through the noise to better understand to this high-tech niche in the new construction market? Making space for technology in new construction projects is a no-brainer, because it gives buyers exactly what they want: an infinitely customizable suite of tools designed to make life more enjoyable. Homebuyers already use many of these “smart” technologies to automate daily tasks, and purchasing a residence hardwired to support this hyper-connected lifestyle is a high priority for more than half of the market.
Keeping up with convenience.
The convenience and comfort associated with features like keyless entry and remote-access surveillance are a huge draw for someone searching for a smart home. Most IoT services inherently feature complex layers of password-protected security as a way to ensure that the accessibility they offer doesn’t compromise safety in the name of convenience, ultimately making the residences they are connected to much more secure. Each connected buyer brings with them an outsourced network of domestic workers and delivery specialists that need daytime access to the home, requiring on-the-ground security to work in tandem with cloud-based tools.
The front desk has become an increasingly essential hub for residents who use this constellation of conveniences, and keeping the building secure requires a blend of traditional security touchpoints and personal access technology. The use of digital keys and automation also make routine security tasks much easier to manage at scale, so that one full-time guard can secure and surveil an entire property with more efficiency. Developers can offer more competitive HOA fees, a safer building and a more futuristic living experience by selecting the right integrations… but where to start?
Living in the cloud.
Lock manufacturer Schlage recently partnered with Wakefield Research to conduct a survey of 1,000 U.S. multifamily renters? to see how they feel about the future of security, technology and the connected home. Their findings create a strong case for having an easy-to-use set of tools for homeowners of all kinds. Do homebuyers actually think technology can solve their security concerns? Millennials are increasingly requesting spaces with standard high-tech security features—out of the group, 61% are likely to choose an apartment specifically because of its connected access, while 86% are willing to pay up to 20% more for a space that has offerings like smart locks or other cloud-based security tools, the survey reveals. Nearly 65% of Boomers polled also said they would be happy to pay more for a place with high-tech upgrades. Given that this demographic holds the majority of real estate purchasing power, this statistic carries major market weight. Both groups are extremely optimistic about the future of smart security.
Laying foundations for the future.
How might developers begin to implement these innovative new features? It’s all about balancing traditional forms of security and technology—a simple first step is moving from keys to FOB systems, creating a greater level of access to all of the typical security touch points throughout the building (at the door, at the elevator, etc). FOB tech can also be used to control access points between residences, common spaces and amenities, ensuring every tenant is ultimately more empowered and secure.
Smart lock systems like Latch? are a huge selling point, because each homeowner can control access to their residence anytime, from anywhere in the world—making it both a lifestyle amenity and a high-tech security feature. When someone arrives at the building, the host is able to see them, talk to them, and even unlock the front door without having to be there. This futuristic lock also comes with the option to use a traditional key—an elegant blending of old and new technology designed to appeal to everyone (even if they aren’t totally into tech). As the IoT ecosystem improves, there will be even more opportunities to combine protection and convenience when designing the homes of the future. The possibilities for developers and innovators to explore accessibility and security options at scale are already limitless.