Tags: Property Prices, Renovating, Property Development, Strange Renovations, LifestyleProperty | 24.10.16

Is it time to jump on the ‘Smart Home’ band wagon?

Motion sensors that turn on your lights or voice commands that lock and secure your property shouldn’t surprise us anymore. Today’s home automation technology can pick out recipes based on the contents of your refrigerator and even suggest an outfit for the day depending on the weather outside and what you have scheduled in your calendar. More and more of these applications can be controlled through your smartphone.

It’s not alien technology

Home automation, through the use of ‘smart home’ products is a natural progression in our technology evolution, and it’s a sector that’s growing at an exponential rate. Amazon’s ‘Echo’ and Google’s ‘Google Home’ are easily the two most popular ‘smart home’ devices in the market that are aimed at the residential market, but there are many other established and emerging companies that are contributing to the growth of this industry.

Technology has impacted nearly every aspect of our lives, therefore it’s only natural that this digital transformation influences the homes we live in. It can also add to their value.

Smart homes in Australia

The average Australian household has nine connected devices, and by 2020 this number is expected to triple to around 29.

Telstra, the nation’s largest telecommunications provider appears to have recognised both the financial incentives as well as a growing need for residential solutions that aim to improve convenience and safety in the modern home.

The long term plan, according to John Chambers, Telstra’s Executive Director of Home and Premium Services is for, ‘smart home’ technologies [to] have a role to play in broader smart city initiatives, and data collected in homes – particularly energy management and health data.’

Telstra is looking to provide a new ‘smart home’ platform to users of its network by the end of 2016. Some of the features of the Telstra ‘smart home’ include allowing users to control various devices and features of their home through a mobile application.

To highlight the overall trend towards home automation, around 30 million households in America alone (out of 1,246 million homes) look to embrace ‘smart home’ technology by mid-2017. The main influencer of this shift is family safety. Smart security systems and video monitoring tools can be controlled and accessed through a smartphone allowing residents to maintain a protective gaze on their loved ones and belongings at all times.

What are the benefits of transforming your property into a smart home?

People are becoming increasingly connected, and the transformation of their homes into connected entities is inevitable.

The addition of ‘smart home’ technology, along with a good internet connection can make your property stand out.

People can be indecisive when it comes to purchasing and installing ‘smart home’ products because of the high costs involved. But with many devices becoming more affordable along with the added long term benefits, it makes sense to at least consider adopting and making the change.

Here are just five of the many benefits you can derive from adding smart home technology to your home.

  1. Experience customised comfort

Customise your immediate surroundings by having the right lighting and temperature settings for each room of your home. You could also have iTunes synchronised to your alarm, home stereo, phone or clock to create the right mood.

  1. Keep your family safe with smarter security

Using a more intelligent home security system will allow you to remotely monitor the security status of your home when you’re out, away or on holiday. Motion sensors can be used to trigger an alert notification on your mobile device if an intruder has entered your property in your absence. CCTV cameras can show you that the kids are ok. Similarly, a smart fire alarm can be set to inform you if the smoke detectors go off.

  1. Be more energy efficient

When all your devices are connected, you have greater control regarding monitoring your energy usage and costs. Many devices offer energy saving functions that automatically reduce the amount of power consumed. It’s also common for many smart lighting products to have built-in motion sensors that switch on lights when you enter a room and turn them off as soon as you exit the premises.

  1. Increase the resale value

The addition of ‘smart home’ technology can increase the resale value of your home. Smart homes are typically more energy efficient and secure, they also have that added ‘wow’ factor, which combined should act to increase their market value.

With many of today’s devices showcasing connective features and offering greater access to information it makes sense to consider the ‘smart home’ option. There are a wide variety of products on the market. It’s worth thinking about the type of buyer you’re trying to attract and whether ‘smart home’ technology would enrich their lives and make your property stand out.

Back « How is Airbnb affecting Australia’s Property Landscape?
Next » Nine Practical Ways to Increase your Borrowing Capacity

Keep your info all in one place

Your Tomorrow Finance Customer Account is a hub for your home loan journey. From saving products you’re interested in to viewing your application progress. Enter your email to receive the link to your account.

By clicking Send Me My Link, you agree to our Terms of Use and Privacy Policy

Leave a comment


Leave a comment