The real estate sector in India is one of the biggest sectors and has been around for generations.
Real estate deals with the purchase or sale of vacant land, homes, apartments, commercial buildings, etc. When we say homes, they generally include independent houses or flats. With rentals and purchase prices increasing every day, most people settle for shared properties, especially rentals. In any case, flats have a shared corridor although each flat in the building generally has separate main doors. As for those who can afford individual homes or flats, preference goes to newer homes. Preference goes to homes with smart home technology.
Smart home technology used to make homes smart. Such homes with smart home technology are called smart homes or smart houses. The best part is that smart home technology is a reality even without the use of the internet. While the internet is not mandatory for many home systems. Some systems do require the internet for working and this is a bonus!
As the newer generation is using advanced technology on mobiles. They prefer a home that includes smart technology as well. Such homes are smart homes and are in huge demand, especially with younger investors. Smart homes are also a favorite among the older generation (who live alone for valid reasons). As far as safety is concerned, such as safety alarms.
Most smart home technology is based on IoT that works on sensors. Such smart systems also cut down a lot of time. People otherwise spend on daily chores, even ones that need precise applications such as watering plants; these smart devices can turn off the water supply using sensors that test the soil for enough water.
The best part about smart home systems is that not all of them need internet. They can even work in remote areas. Efficiently as long as they are connected to other devices (for networking) if need be. A vacuum cleaner or a robot moves around your house. You can control this device through a smartphone app from anywhere, or with remote control. If you are inside the house (in this case it need not be connected!). This smart device also curbs the need for manual mops. That demand hard labour, making it ideal for busy people on the move. As well as those who cannot do physical labour.
The Impact Of Smart Home Technology On The Real Estate Sector In India
Since the internet is not mandatory, this can be a plus point to market a real estate property. Not all people have internet, especially those who have houses in the outskirts where even phone reception is not good. Another pro of marketing homes with smart technology would be if your competitor does not offer the same. Using the internet also means exposing yourself to everyone using the internet. That includes those who could be trying to steal information.
Property developers in India are opting for developing homes with smart home technology despite the notably higher price difference. This is because home automation is the first preference in a day. Where nearly every member of the family is working. They want to manage their home from wherever they are. Safety and security are other reasons for building smart houses, be it independent houses or flats.
Smart home technology automatically adds value to any house or flat. That is why developers are keen on developing smart homes over traditional homes. For developers with rich potential customers with a higher budget. There is no end to the extent to which smart homes can be embedded. This includes invisible audio systems, automated lighting (power on and off, or adjust the intensity of the lighting through the smartphone, remote or voice command). Sensory thermostat with customized temperature setting, power security system at the entrance, etc. to name a few.
Advantages Of Smart Homes
Automation – Home automation is the biggest advantage of smart home technology.
Energy efficiency – smart home technology ensures to make use of energy from smart systems efficiently. Such as enabling auto turn-off once the required task is completed satisfactorily (such as heating systems). With energy resources running low everywhere. Such systems are a boon and provide hopes of a better future for the planet. Motion sensors in smart devices like thermostats let you set temperatures according to your needs. Turn it on and off when you want to, and save energy.
Safety – Safety alarms are a hit in today’s world where crime rates are so high. You can monitor your house from anywhere through your smartphone. Fixing camera/s and a microphone to your door. Let you watch visitors and communicate with them from anywhere in the world!
The same system can be programmed to alert you. When the door is opened when you are away. This proves to be a high-ranking safety factor for homes. Any smart home can incorporate this. For bigger properties such as estates with houses, a security system with an attached alarm system.
Siren can be set up in the same way at the gate. Giving you the power to decide who should enter your premises. Smart technology lets you ‘mask’ your absence from your smart home. By programming the system to open or close the blinds whenever you want. Through your smartphone – this justifies your reliability on the smart system’s remote access mode.
Authority from anywhere – Some apps let you control systems at your smart home through your smartphone or any other computer. Given the population and traffic in most metro cities and Tier 1 cities in India. The real estate sector in India will soon have a leading hand in providing smart houses. If you are away from home on a vacation and wish not to keep your refrigerator going on without break. You can even turn it on or off as per your convenience, through your smartphone or laptop.
Voice commands – lighting, heating, television, and many more devices can be controlled through voice commands, that too customized. A pet feeder can also be set to work on voice commands. This is especially helpful if you want to care for your pet from afar. Recording your voice or calling them in real-time on the device to help them feel like you are still looking after them. The device lets you feed your pet customized portions and anytime you want.
Disadvantage Of Smart Homes
A wired device that ran the house for years may not be feasible anymore due to advances in technology. Even the same device may no longer be manufactured or sold anywhere. This will force you to switch to a smart device. Although, may not be possible to give older homes a complete makeover unless certain parts are demolished. And if they are, the property loses its original value.
In a developing country like India, smart homes are most popular with the higher financial classes. Although they may not be popular among the middle classes. This is still not an issue since companies that provide smart home technology are coming up with affordable smart systems.
Keep these things in mind before developing a property or buying a property or investing in real estate sector in India! Whether you want a house with smart home technology or not is your call, but we recommend smart homes.