Homeowners need to take note of this growing trend to remain competitive in the property market
Considering that those who make up this market fall within the millennial and Generation Z cohorts, which have an affinity for technology and eco-friendly values, the South African real estate landscape is poised for transformation.
Homeowners need to take note of this to remain competitive in the property market now and into the future, says Andrew Dickson, engineering executive at CBI-electric: low voltage, the manufacturer and supplier of the Astute range of smart IoT (internet-of-things) home automation devices.
“A decade ago, people were hesitant to trust devices connected to the internet, preferring tactile buttons and switches,” says Dickson. “But as the use of smartphones and online platforms became ubiquitous, attitudes changed. People began to embrace technology, and property owners started to recognise the potential of smart devices to enhance their homes.”
“Nowadays, automatised technology in homes is seen as a significant positive with various factors giving it the potential to translate into increased property values, making smart properties highly attractive to both homeowners and buyers,” he says.
Meeting the expectations of modern homebuyers
“One of the primary benefits of smart home automation devices, such as those in CBI Astute range, is convenience. They allow individuals to remotely control and monitor various aspects of their homes, including lighting, temperature and security systems,” says Dickson. “This appeals to tech-savvy buyers who prioritise the ability to effortlessly manage their living spaces.”
Enhanced security is another huge benefit. “Security ranks high on the list of priorities for most homeowners. Smart devices, such as integrated camera systems and motion sensors, provide real-time security monitoring. These systems not only act as deterrents to potential intruders but also offer homeowners peace of mind, knowing that they can keep an eye on their property regardless of their physical location.”
"Smart technology plays a pivotal role in optimising energy consumption by monitoring and controlling heating, cooling and lighting, thereby reducing energy wastage" - Andrew Dickson, engineering executive at CBI-electric: low voltage
Energy efficiency, which is a major concern for both environmentally conscious home buyers and those looking to reduce long-term utility expenses, is another aspect smart technology assists with.
Smart technology plays a pivotal role in optimising energy consumption by monitoring and controlling heating, cooling and lighting, thereby reducing energy wastage,” says Dickson.
“The benefits of smart technology adoption in real estate extend beyond the present as it aligns with the changing energy landscape and global sustainability goals,” he says. “For example, it can help homeowners who invest in technologies like solar panels and battery backups to secure their energy supply and optimise how these backup power systems are used.
Prioritising goal-aligned smart solutions
Providing advice for those considering integrating smart devices into their homes to increase their property value, Dickson says the key is intentionality. “Understand the primary elements of how this technology can enhance energy consumption, household protection and automation. Avoid unnecessary additions and focus on solutions that correlate with your goals.”
Looking ahead, he says the relationship between smart technology and property prices is expected to grow stronger. “Smart technology will become a differentiating factor in the real estate market. Buyers will increasingly demand homes equipped with smart features and consequently, properties without these amenities may face lower offers.”
“Smart home technology is no longer a luxury; it has become an essential element that enhances the overall appeal and value of a property in the eyes of modern homebuyers.”