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Impacts of SMART systems on the value of property

Updated: Feb 21, 2022

Although there is significant demand for property, there is also no lack of competition. Being innovative and successful to stand out would be a vital element to win in such competitive market. With the recent IT developments and easy access to high-speed internet, the end users have become technology savvy and eager to experience SMART systems and home automation more than any time. Based on a recent research amongst 3000 home owners, 26% of all Aussies are considering ways to make their homes smarter and 36 % had upgraded their homes during the last year*. These facts indicate a very high potential for home automation and SMART systems to add the “wow factor” to the potential buyers of a property. It can create a point of difference, which makes the property stand out from the crowd.

SMART building services technologies such as automated cooling, heating and ventilation, smart lighting and automated blinds can help to drive sales by adding value and making buildings more appealing to the potential buyers.

Right now, buyers are happily paying for SMART appliances such a

s TV, vacuum cleaner and the like, as these appliances have been available and accessible for a longer time. Many buyers are becoming more interested in

  • Voice commanded appliances

  • Automated Cooling/heating

  • Electric blinds and curtains

  • SMART sound and light systems

  • Automated irrigation systems

Against the fast-growing interest, price is still a consideration. It seems that many want the latest technologies, but it's often only those with bigger budgets that can afford it. However, this is changing as systems become more affordable. Furthermore, considering SMART building services from the beginning of the project and considering the engineering aspects prior to build is the ultimate solution for making SMART home automation more affordable.

Selling might not be at the forefront of your mind when building or renovating. However, it is still an important consideration, as the decisions you

make can significantly affect the value of your home in long term.

A valuable piece of advice from Oren Flamm, General Manager and Auctioneer at Hodges Caulfield to builders and renovators is that you must include a home automation partner, you've got to get the smart wiring in and ensure that your smart home has all the technology it needs. **

Does SMART home automation increase the value of your property?

The answer is YES. There is a high demand and buyers are seeking the smart systems when they are looking for a property. Because the more already implemented, the less they have to implement by themselves. Based on a survey, published by APA, SMART homes sell at least 20% faster than the rest. The more interested buyers, an

d higher competition will end up increasing the value of a SMART home and buyers will be willing to pay for the premium building services and integrated SMART appliances.

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