Home Automation: The next big change in the Real Estate Industry
28 Dec 2019
In the past, any person would have been satisfied to have a roof over their heads as owning a home was considered a luxury. But now, the situation is different. The availability of home loans have boosted the growth of real estate in the country. The increasing popularity of home loans brought homeownership within the reach of most tax-payers. But because of the increasing number of consumers, the developers started exploring by providing luxurious amenities such as swimming pools, clubhouses, concierge services to name a few. Apart from these luxuries, the real estate industry is also adapting home automation rapidly. Let us have a look at how home automation is going to be the next big change in the real estate industry.
What is Home Automation?
A smart home or a smart house, also known as Home Automation is building automation system for a home. This automation system will control everything in the house from lighting and climate to the entertainment systems and appliances. Some automation systems may also include home security settings such as alarms and access control to keep buildings and independent homes safe while they are uninhabited. The devices in such homes use microprocessors, sensors and software that run autonomously and can perform multiple functions at the same time.
Adoption of home automation in real estate industry
Even though the concept of home automation is very old, it never truly became a part of the standard real estate. It only took this long for it to become a reality because of certain factors such as lack of improved technology, unaffordable products, wiring issues and limited functionality. However, the increasing growth in technology has changed all this.
The transformation of smartphones has completely reinvented our lives. It is not just used to connect to people anymore. There are lots of things that can be done with smartphones. It has redefined the home automation segment. For our convenience, the modern developers have started designing the products that will amalgamate with the home automation appliances making our lives much easier.
Most of the automation products comprise of Wi-Fi enabled wireless products that are based on the ‘plug and play’ model. These products offer consumers the option to manage the same through their smartphones. This advance in technology will not only be easy to access from remote locations but will also help in controlling the use of energy. It also provides 24/7 surveillance facility through motion sensor devices and live feeds. In addition to saving energy, you also save a substantial amount of monetary savings. Home automation is no longer associated with the rich and affluent but is available to all sections of the society in India.
What do buyers seek and what are developers offering?
Nowadays, young buyers look at investing in projects which are cost-effective and place a greater emphasis on their standard of living as millennial don’t want traditional homes anymore. This is when ‘smart homes’ come into the picture as these homes are the perfect example of what they are looking for.
These new-age home automation products can be configured to provide several benefits such as- from accessing the controls of the air- conditioners, music systems and heating appliances to managing mundane tasks such as ordering food, controlling the garage door and all the other chores that can be pre-configured to the consumer’s liking.
These automation features can play an essential role in senior citizens or differently-abled people’s lives. The system can be voice configured to help them with basic tasks that would otherwise require someone else to do it for them. It can be quiet beneficial in the case of emergencies by accessing it with a simple voice command, helping them live comfortable, effortless lives, just like everybody else. It can also help adults to keep a watchful eye on their children when they are not in the vicinity. Furthermore, most of the home automation products out there can be easily configured with voice-enabled devices like Google Home, Philips Hue, Amazon Echo and Amazon Alexa.
According to the current standard of living in India, smart home automation has become relatively affordable and a large number of households across the country use some form of smart home technology. Today, many real estate companies in India are equipping their properties with smart features in order to create a foot in the real estate business and differentiate them from their competitors.
With intent to provide the consumers with the benefits of a hassle-free life, the real estate developers are already working on including home automation products to their standard list of offerings across projects. There will come a time soon when one doesn’t need to be at home to take care of it as it will do everything on its own. It is really intriguing that we have such technology at our disposal that will not only help us save our depleting natural resources but will also make our lives much more convenient and opulent. Along with safety and security, these homes contribute towards an overall efficiency.
Now that you are aware of various home automation products, ensure that you make the most of it by equipping your home with contemporary automation tools. To finance your home automation, you can consider using a personal loan. Before availing a personal loan for home automation, make sure that you compare various loan offers provided by different financial institutions. This will help you avail a personal loan that best suits your needs. Personal loans available on Finserv MARKETS come with attractive interest rate and other lucrative features such as low processing fee, flexible repayment options and zero hidden charges. Moreover, you can also customize your loans to best suit your needs. It is advisable to calculate your EMI beforehand. This will help you plan your monthly budget wisely, thereby allowing you to make timely repayment of your personal loan.
Do not forget to read and understand the terms and conditions set by the lender on your home loan. You may also consider seeking the help of a financial advisor to make a well-informed decision.
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