Why Smarter Homes Are The Future Of Indian Real Estate
The pandemic that rocked the world has shown an unusual trend in India. The focus on investment has shifted towards the purchase of house property. People have realized the fragility of jobs and loss of income during these last few months. Therefore, the tendency has moved towards the acquisition of assets, which are appreciable in nature.
With the change in the world we live in, the new normal has made people more technology-driven than ever before. This trend is irreversible and is going to be the future.
A new concept has evolved in this era of technology-led home buying. The concept is that of a smart home. According to experts, the Indian smart home market is heading for growth to $6 billion by 2022. The current market is around $3 billion, which means 100 percent growth in the next twelve months.
What is a Smart Home?
A smart home is a home setup where appliances and devices are controlled automatically and remotely. The same can be done from anywhere using internet connectivity through a mobile phone or any other networked device. Functions like security access, temperature, lighting, home theater, etc., may be used through an internet connection in a smart home.
There are some distinct advantages of smart homes resulting in the growing popularity of such homes. The advantages smart homes have are as under:
Smart Homes Are Convenient:
Smart homes offer a unique feature of convenience and comfort to the homeowner. Instead of having multiple control devices for different appliances, thermostats, lighting, etc., all of them can be controlled remotely from a single device, be it a smartphone or any system having internet connectivity.
Smart Homes Provide Security:
Smart homes come with state-of-the-art security systems with cameras. Smart homes also provide access cards and fingerprint identification as methods of entering the house. These features reduce the peril of housebreaking. You may be anywhere away from your home, and you get real-time updates on the connected device about your home.
Smart Homes Provide Greater Accessibility:
For people having an impairment of movement due to age or otherwise, smart homes provide accessibility. There are voice command systems that can control lights, manage the doors. Automatic tasks like watering the plants may be scheduled, and the same will be taken care of. This saves the labor that was otherwise required to perform this task.
Saves Cost/More Eco Friendly:
By using the gadgets and appliances efficiently through the remote system, there is an element of savings on your electricity bills. Also, it helps in conserving energy and, therefore, is eco-friendly as it saves energy.
As is evident, well-defined advantages of a smart home are energy savings, security, and remote control of electrical appliances fitted inside the home. More and more people are going for smart homes in search of a more comfortable and secure living. One may safely construe that smart homes are touted as the future of real estate in India, for the reasons stated above.
Financial institutions have sensed the growing demand in this area. Home loan schemes on attractive terms are available with all such institutions for purchasing a smart house property. However, you need to be conscious of the home loan interest rates offered by the various lending institutions to get the offer best suited to your needs. Home loan EMI calculators are being provided on the official websites of all lending institutions and financial advisors. You are advised to check out the calculators to ascertain the EMI amount that will come to you. That will help your financial planning and make your decision a conscious one.