Investing in Smart homes? Know These Tips Before Investing

By Investoxpert | 02 Feb 2024 | Real Estate

Investing in Smart homes? Know These Tips Before Investing

"Smart homes," formerly considered a futuristic word, are now widely employed in India's real estate industry. Many new home developments have features like the ability to control all appliances from a single remote, set water geyser timers with smart plugs, and control lights via an app on your smartphone.

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However, when it comes to smart homes and home automation, buyers and investors are sometimes mislead due to the lack of awareness and the restricted availability of information. Buyers of real estate should be aware of the components that define a smart house and if it is reasonable to pay more for features they might not utilize.

What Is A Smart Home?

A smart home is one that is equipped with internet-connected gadgets that allow for remote control and monitoring of systems and appliances including heating, lighting, and other features. Often called home automation, smart houses offer their owners access to control the smart gadgets installed in their house via a smart home app or other networked devices, giving them a sense of security, comfort, energy efficiency, and convenience all at once.

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Smart home automation systems, a subset of the Internet of Things (IoT), typically exchange consumer usage data amongst themselves in order to function as a unit and automate tasks according to the homeowner's preferences.

How Does Smart Home Automation Work?

The key component of a smart home is linked appliances. Control is facilitated by the devices' connection to the Wi-Fi network. All of these gadgets have software activated that tracks and records the user's behaviors and preferences. A smart mirror may identify health issues, a smart speaker can detect your preferred music, a smart mattress adapts to your back, and sensors in toilets can check for any health issues by scanning waste before flushing.

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Home theater and entertainment systems, lighting, security systems, and temperature control are a few typical items that employ home automation.

Pros Of Home Automation

• The ability to operate a home from a distance gives homeowners piece of mind when it comes to smart homes and home automation.

• User habits and preferences may be accommodated in smart homes.

•Home efficiency is also increased in smart houses. For instance, your house may be cooled by the time you get home from work, and your garden can be watered on schedule.

Cons Of Home Automation

Managing home automation may be difficult, particularly for those who are not tech-savvy.
Devices and appliances must be compatible with one another, regardless of brand or manufacturer, for home automation to be successful. Such a standard does not currently exist in the market.
Privacy and data security are significant issues. If hackers manage to get access to the smart gadget, it will be simpler for them to obtain your personal data or increase the likelihood of a break-in at your house.

What Is The Future Of Smart Home Automation In India?

By 2022, the Indian smart home industry is anticipated to reach a valuation of USD six billion, according per Statista. By 2022, this amount is predicted to increase to USD 53.4 billion globally. Many appliance manufacturers have introduced their line of smart gadgets into the Indian market in an attempt to capitalize on this demand. For instance, Panasonic introduced a line of smart appliances in February specifically for the Indian market. The coronavirus pandemic, however, is probably going to hinder this market's expansion.

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What Are The Smart Home Automation Features In India?

If you want to engage in smart home projects, the following are some of the features you may anticipate having in your digitalized house:

Intelligent showers, bathroom geysers, switches, and toilets that analyze urine and stool samples to track user health
Bedrooms equipped with smart lockers, outlets, curtains, ceiling fans, and air conditioners (ACs). Here, your fan and AC may operate simultaneously to maintain the perfect temperature for restful sleep.
Overhead tank smart sensors that may provide water level updates, among other things, are mounted on rooftops.
Smart kitchen appliances: toasters, washing machines, refrigerators, soap dispensers, smoke detectors, etc. When exhausts detect pollutants in the kitchen, they might begin to operate.
When the doorbell is rung, a smartphone or video screen will display the person at the door thanks to a front door featuring an internet-connected camera.
Smart TVs, air purifiers, lamps, tube lights, and speakers with IoT sensors that can be turned on and off with voice commands or that respond to human presence will all be included in the drawing room.

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Conclusion

By utilizing technological advancements and innovation, smart homes simplify tasks. Smart homes have completely changed how people live, use and save energy, and interact with their household appliances. Examples of these innovations include scheduling items to do chores at specific times or utilizing your phone to manage apps.

Investing in Smart homes? Know These Tips Before Investing