Smart Homes are all about making ourselves comfortable wherever we live. If we want to switch on the fan or put off the lights we need not walk to the end of the room, groping on the wall for the switches. These hassles can be done away with, as the smart home technology inches closer to properties. Automation has set its imprint in every field and the real estate industry is no exception.
With the advent of automation, homes have turned smart. Communication technology has wormed itself into amenities at home _ entertainment, ACs, security and all the machines that assist us in our day-to-day activities.
What exactly happens in home automation? Smart Home Automation Company, in Chennai like Radiance Automation are able to make these machines work even if we happen to be away from our homes. You are able to instruct them with just your voice and need not run around. How exactly you go about it, is by connecting all the devices to your smartphones. In other words, home automation is "Better communications with your home technology."
Home automation is just a sign of Industry 4.0 in the field of real estate. This concept has cast its net on the industry and has been successful in influencing the thinking of buyers and developers alike. Nobody can foretell how quickly properties are up for grabs, and will be sold. Location does matter and so is the condition or the amenities it has. Still, there are other factors that make a property attractive to its buyers than just these factors. With technology taking over society by storm, smart homes are naturally preferred by buyers. It is easier if the house already has such a convenience than installing the system yourself.
Therefore, the unsaid truth or the reality that stares at you boldly in your face is a very good resale value of automated homes. The increased resale value is no surprise but it is definitely a head-turner. Another obvious reason is the higher rental values of such homes. Automated homes fetch you more rent and it is one of the most sought-after amenities sought by home buyers.
Learning to use technology has become inevitable for all age groups. Children and the elderly are now forced to handle any electrical or electronic gadgets that flood the market. These gizmos have now made their way into every corner of your life and into your homes. Right from the fridge to the exhaust fan to the foyer lights, everything can be operated miles away with just a remote. Smart Home Automation Companies create smart homes that are appealing to the tech-savvy millennial, tech-learning elderly and tech-enthusiastic children. All age groups are trying to augment their lives through technology.
The real estate industry, swept over by technology, is now more appealing to a larger audience of youth and elderly alike. Technology and our lifestyle have largely influenced the real estate market. It is not merely being a landowner anymore, it has more to do with how you live and walk around the society. The concept of smart home technology has instilled the idea in the minds of property buyers, that it is not about location and size anymore but the investment in property has got a lot more to do with technology and the benefits it offers. Land developers and builders are now vying with each other to build homes with the best amenities.
According to the MarketsandMarkets survey report, the Global Smart Home Market Report size is projected to grow from USD 101.7 billion in 2023 and is anticipated to reach USD 163.7 billion by 2028, growing at a compound annual growth rate (CAGR) of 100 % from 2023 to 2028.
Source: Marketsandmarkets
MarketsandMarkets works to gather market intelligence. It analyses data across major B2B verticals. This survey helps companies access their competitors and improve their offerings and also detect any upcoming disruptions in the market, well ahead.
But some are of the view that technological developments have their own downside. For instance, the power supply is not dependable in our country. Cessation of power even for short periods might prove detrimental to home maintenance if it is a fully automated one.
Wiring that may be affected by pests, pet animals or even birds might affect the effective functioning of the system. Also, though people of all age groups are trying to keep themselves abreast of technology, sometimes they are not successful.
Last but not the least, our country does lack people who can immediately act to set the system right, in case there is a failure. The installation difficulties and cost of setting up the entire system should not be forgotten too, say personnel of Radiance Automation, a Smart Home Automation Company in Chennai.
Apart from these factors, smart homes are definitely more convenient. Voice commands are very very useful to the elderly and the bedbound. They will be of great help to the physically challenged who can easily make use of any electronic gadget with just these commands and then take up the hassle of walking over or reaching out to switches and plug-ins.
The best part of automation and liked by one and all is the lighting controls and temperature controls. Radiance Automation, a Smart Home Automation Company in Chennai, says that this has greatly helped to reduce EB bills and significantly in energy consumption.
Another advantage of automating homes is that they can be done to our convenience or they are all highly customizable. This also turns the entire process cost-effective. If you talk about the advantages of smart homes or automated ones, the list is endless. Therefore, before jumping on the bandwagon of those who are trying to turn their homes smart, it is very important to run your eyes over the advantages and disadvantages of the pros and cons of the system.
Whether your answer is Yay or Nay, do not forget that it is you who has taken this decision and hold yourself responsible for the consequences. Home buyers would definitely bat for the YAY because of the enhanced convenience and the greater control homeowners can wield. This aspect is highly valued by many homebuyers, and they are willing to pay a premium for it. Radiance Automation, a Smart Home Automation Company in Chennai lists some of the advantages of such homes.
Helps homeowners to reduce energy consumption. Smart thermostats, for example, can learn a homeowner's preferences and automatically adjust the temperature to save energy. This increased energy efficiency is increasingly important to buyers who are looking for sustainable homes.
Increased Security: Home automation systems can provide increased security features, such as motion sensors, door and window sensors, and surveillance cameras that can be accessed remotely. This can improve the safety and security of the property, making it more attractive to potential buyers.
Smart Home Integration: As smart home technology becomes more mainstream, the demand for homes with these systems is likely to increase. Having a home that is already equipped with home automation technology means that buyers do not need to spend time and money installing these systems themselves. This added convenience can make the property more appealing and valuable to buyers.
Future-Proofing: As technology advances, homes that are equipped with home automation systems are more likely to be seen as future-proofed. This means the property is ready to integrate with new technologies as they emerge, making it a more valuable investment in the long run.
To conclude, home automation can have a positive impact on real estate values and property management by increasing property value. With the increased demand for sustainable and technologically advanced homes, home automation systems are likely to become an increasingly important factor in determining the value of a property.
