What Can Smart Home Technology Do For Property Buyers and Renters?

The invention of smart home automation technology has not only simplified our day-to-day lives but has also helped us cut our electricity bill as well as increase demand for property that is put up for sale or for rent.

A slew of new products have been introduced over the last couple of years, all professing to be the next hottest thing that you need for your home. However, there are only a small number that are genuinely useful and generally desirable.

Generally, there is only one of two reasons you’re shopping around for some type of smart home or home automation: you want to use it for your home, or you want it to help you sell your property.

So, what do you need to know about smart home automation products?

Uses of Home Automation and Smart Tech
Home automation is a name given to a broader class of devices that utilises technology to make homes smarter. Examples are smart lights that can be controlled using a mobile phone and security systems that let you monitor your house when you’re away.  Another example are the smart battery systems like Tesla’s Powerwall, which lets you choose where you want to direct their solar energy – straight to your house or back to the grid to earn yourself some money.  These devices aim to make your home safer to live, cut your overhead and generally make your life simpler.

Home automation is forecast to flourish, with the world’s largest companies like Vodafone planning to pump billions of dollars into smart technologies for the home.

Things That Home Buyers and Renters Are Looking For
There are three things that most people are looking for, according to agents interviewed in Sydney and Melbourne for the purpose of this article: fast internet, smart wiring, and energy efficient home automation.

Fast Internet
This is not something you can easily get unless you live in an apartment building. The decision of whether some properties get a super full fibre connection and others get the traditional copper and cable TV lines rests on NBN Co. But if you live in an apartment block and your strata agree to buy in, you can have your building’s connection upgraded at a reasonable cost through the various private fibre companies throughout the country. A faster internet is quite the leverage if you decide to list your property for sale or for rent.

Smart wiring
This is also one of the important things that buyers look for and it a big deciding factor when they are choosing between two properties.  Both standard electricity passage and communication between devices are made possible through smart wiring. This covers everything from Ethernet for internet, cable access for Foxtel, and ports for smart home devices such as security systems, washing machines and thermostats.  While you consider these as luxuries for now, future buyers may not. In terms of cost, it is obviously cheaper to install while your property is being constructed, but it’s also not too expensive if you want to have it later on.

Energy efficient home automation
Deloitte says that what most people are targeting to buy is smart thermostat. This is one of important items if you want an energy efficient home, as it lets you to remotely control temperatures throughout your home using your phone regardless of where you’re at. Also another item to consider is smart solar systems similar to Tesla’s, mentioned above. Controllable shades are also worth considering, as this is especially useful during summer when you want to limit the heat coming in your home and the use of air conditioning.

Separate from the general smart devices discussed above, you also need to take into account other devices depending on type of buyers. According to a study by the National Kitchen and Bath Association, there reasons for wanting to buy smart home devices are different depending on age group. Millenials want to simplify their life, Gen-Xers want more comfort, and Baby Boomers just want to reduce the cost of their utilities and increase the value of their property.