In the dynamic landscape of property development, staying ahead of the curve is paramount. With technological advancements shaping the way we live, work, and interact with our surroundings, developers must adapt their new builds to meet the evolving needs and expectations of modern homebuyers.
One such adaptation that has gained significant traction in recent years is the integration of home automation technology into property developments.
Enter smart home technology. An approach to modern living, that empowers residents to control various aspects of their home environment with the touch of a button or a simple voice command.
This approach is no longer a luxury only seen in high-end builds, but an expectation in mid-range new homes across the nation. The automated home market size is set to grow at a compound annual growth rate (CAGR) of 12% between 2024-2028.
Smart homes are helping to redefine what a home can be. As awareness of this technology grows, so does the demand.
From thermostats that adjust based on occupancy patterns, to lighting systems that sync with circadian rhythms. Smart home technology not only enhances everyday living but also contributes to energy efficiency and cost savings over time.
Another reason is that consumers probably just like the ease of it all. Remembering to turn your heating down, or lock your doors, when you leave is just one less thing to think about in what has been a fairly chaotic few years for the majority of the population
For developers, adding home automation features is a great opportunity to stand out in a crowded market. By catering to the preferences of tech-savvy buyers, developers can significantly enhance the value and marketability of their properties.
Consider, for example, a block of flats equipped with smart locks, video doorbells, and remote access control. Not only do these features enhance security and peace of mind for residents, but they also command premium pricing in the market. Similarly, homes with energy-efficient smart appliances and automated lighting systems are more desirable and fetch higher resale values.
The concept of future-proofing is one of the most compelling arguments for integrating home automation technology into property developments.
With technology evolving at an exponential pace, developers must consider the long-term sustainability of their investments. By adding scalable smart home infrastructure, developers can ensure that their properties stay relevant and competitive in the years to come.
Video doorbells are now a staple in most homes, but keyless locks are growing in popularity.
From air purification to an in-shower spa experience, your development could help its occupants live a healthier life.
Future-Proofing Your Investments
Of course, integrating home automation technology into property developments is not without its challenges. From navigating technical complexities to managing budget constraints, developers must carefully plan and execute their strategies to ensure success.
Two steps that developers can take to get the most out of smart home technology are:
In conclusion, the integration of home automation technology represents a paradigm shift in the property industry. By embracing innovation and putting modern homebuyers’ needs first, developers can create ground-up developments that are good investments for the future. From increased property values to enhanced marketability, the benefits are clear.
If you’re keen to integrate smart home technology into your next building project, but unsure how this would impact your funding, speak to one of our experts today to hear more about our flexible funding solutions.
