It has become crucial for real estate investors, industry professionals, and regular homebuyers to get savvy about smart home and home automation technology. So what do you need to know?
Home technology is about to try and change the real estate landscape as we know it. That includes the players that dominate it. Even individual property investors, buyers, and sellers now need to get smart so that they know when they are getting a good deal, buying or investing in a terribly outdated property or counterproductive technology. As we discover more applications and benefits, those with the best home tech will have many advantages.
So what do you need to know about new home technology? What are some of the trendiest smart home gadgets out there? How can you add some home automation yourself? More importantly, what is the real value of it all?
Watch Out for New Google and Apple Branded Homes
We already have Facebook brand apartments, but Google and Apple branded homes integrated with their technologies are on the horizon, and they could be a bigger game-changer than most realize. Both tech competitors already have their own smart home tech packages. Real estate would bring together internet, smart cars, search, music, entertainment, charging stations, and more. It only makes sense that branded homes could be a great play. It is one of the biggest fears of the National Association of Realtors. Imagine the appeal, and what it would mean for boosting the value of these giants.
Don’t Waste Your Time Worrying About Big Brother
While smart home tech may produce a ton of new data about our daily lives,truth is, our smartphones, Facebook, and credit reports alone already provide so much information that nothing is really private anymore. Plus, there are so many benefits to upgrading homes with the latest technologies that the professionals will outweigh the cons.
Many new home devices are security related, that not only increase safety for homeowners and tenants, but also bring down the cost of home security. Insurance rates could see a drop as well.
Technology giant Cisco predicts that “The Internet of Everything” will save the world almost $20 trillion over the next decade. A lot of this will come from business and logistics efficiency. ‘Just in time’ logistics will help all types of retailers, from home improvement stores to grocery chains. That would theoretically reduce the cost of goods. Though that doesn’t necessarily mean all of those savings will be passed on to homeowners.
However, a slight improvement in the cost of living, as well as the increased personal productivity that homeowners and real estate professionals will enjoy, could leave far more cash in the economy. That is money to be spent on real estate, and to support rising property values. Think about it; if your fridge and coffee machine automatically schedule delivery of refills, and you have to get up from your home office desk less, that’s more time making money.
Fox News also recently covered some of the most extreme new forms of home technology – hover homes. These are homes that will be able weather earthquakes and other natural disasters. They’ll be more sustainable, and last longer. That could bring down insurance costs, and dramatically increase the value of homes.
Smart Home Technology Already Connecting Our Homes
Some of the examples of technology being embedded in our homes includes:
- Samsung smart refrigerators
- Connected TVs
- Knut humidity sensors
- Automated irrigation systems that read the weather
- Tracking and emergency response for seniors
- Smartphone controlled thermostats
- Wireless two way video cameras with audio
- Smartphone controlled smart locks
- Smart, connected air vents
- Intelligent mood lighting
- Home batteries run from solar
Virtually everything can be connected in our homes already. Many high end luxury condos and new homes are already fitted with a lot of this technology, but many of these devices are affordable and are available to DIY and rehabbing enthusiasts. Smart locks, cameras, and lighting are all relatively cheap, and easy to install for the average individual. Even securing superior internet for renters and end buyers can be a great step in connecting homes.
The Smart Home Edge for Real Estate Pros
This is definitely an area which packs tons of value for real estate investors and agents that get smart about new technology. Personal efficiency can be boosted with these devices, but the perks go far beyond that. Smart home tech can add a lot of appeal and interest to home listings and rentals. Leveraged well; agents, investors, and property managers can use this tech to build in better profit margins, keep real estate secure, and make remote showings and sales easy.
