There is a universal phrase that “Nothing is really free.” What this means is that if you think you are getting something for free, it is actually costing you somewhere else or you are giving up something else up in order to get that product or service for free.
Consumer Pricing Model Summary
HomeZada offers three consumer plans to use the platform. The Essentials plan provides the ability to create and store a home inventory, home documents and your contact list for your home. This plan is free. The Premium plan adds the home maintenance, home projects, home finances, reports and dashboards, videos, and online bank integration. This plan is $79 per year. A Deluxe plan adds the ability to manage up to three different homes for people with vacation or rental properties. This plan is $149 per year.
We get feedback that consumers would like our Premium and Deluxe plans to be unpaid solutions. The following is some background and answers to these questions and why we choose these pricing models.
Your Home is Personal Data
Our goal is to empower homeowners the ability to save money, get organized and improve the value of their largest financial asset and biggest expense, their home. HomeZada brings all the information about your home in one place. It includes a home inventory for insurance, a home maintenance schedule, home remodel projects, home asset values, household expenses and all the documents about your home. We believe this information is yours. Therefore, we believe it is not to be sold or given to other parties.
Completely Free Digital Products Sell Your Data
There are many digital products like search engines and social media apps that are free. The data that most consumers provide or share on these platforms is not deeply personal like the data about your home. We have all learned in the past few years that the search engines and social media apps store all that data and sell it to advertisers and other interested parties to know more about you. You are giving your data to these companies in exchange for using their products for free. This is one type of a pricing model.
There is another phrase that is becoming universal which is “If a product is completely free to you, then you and your data are the product that the company is making money from.” This may work for data like your search history and your social media posts. However, HomeZada knows that this pricing model does not work when it comes to the highly personalized details about your home.
Your Home. Your Data. HomeZada Doesn’t Sell or Give it Away.
Every company must generate revenue to stay in business and grow. HomeZada made the strategic decision to generate revenue from Premium and Deluxe subscriptions AND to keep our customers’ data private and secure. If we made our Premium and Deluxe plans free, we would have to make money monetizing your individual data. This does NOT work for us and more importantly, this does NOT work for you, our customers.
Value for the Price
Your home is probably your largest financial asset and biggest expense. In the US, consumers on average spend 30 to 40% of their annual income on their home, which translates to tens of thousands of dollars per year. HomeZada customers have told us that by using our Premium or Deluxe plans, they saved hundreds and even thousands of dollars a year to manage their home. Some examples include: reminders to avoid late fees on property taxes, maintenance reminders which keep energy bills lower and avoid more repair costs, making betting financial decisions on home improvement projects and having all the visibility on your home values and home expenses. HomeZada’s annual fees for Premium and Deluxe plans have proven to pay for themselves.
Other Companies Products and Services
Every homeowner has done business with a real estate agent, and insurance company or agent, a mortgage or bank, home improvement retailers and various contractors. Many of these companies have a subset of data with you about your home. The real estate agent has your sales agreement and other docs when you bought the home. A mortgage/bank knows in detail about your loan. An insurance company knows a subset about your home with their insurance policy.
Many of these companies offer decent technology solutions for you to access a subset of your home data that you did with their help or specific service. But none of these companies have access to all the information about your home in one place. HomeZada’s mission is to bring all this data about your home in one place and thus be your “digital home consultant” to help you become a smarter homeowner. This aggregation of all your data is another reason for us to keep your data private and secure for you.
Why Does HomeZada Have a Free Consumer Version?
We believe every homeowner should have a home inventory to protect themselves against disaster destroying their homes. This should apply to homeowners who are financially struggling and perhaps having a hard financial time remaining in their home. We offer home inventory as our give back to help every homeowner no matter their financial and income status complete a claim in case of a home loss or damage. No one should be have difficulty during a traumatized event to submit a claim.
It is also a way for any homeowner to test out the HomeZada system for free. Homeowners can see how HomeZada works when creating a home inventory. And how it works on any device including mobile, tablet, laptops, and desktops. Then consumers can learn how HomeZada works. Once they understand how HomeZada works, then they can choose to upgrade to one of the paid plans for all the amazing premium and deluxe features.
We appreciate all the support from all our customers and partners. HomeZada believes in creating great products to help our customers while having a fair exchange of value for the service that we provide. We get a lot of questions about our business choices regarding pricing, so we wanted to take this opportunity to explain it in more detail. Our goal is to make every homeowner the smartest homeowner they can be with data at their fingertips for their specific homes.