Smart Home ROI 101
We’ve put together some easy pointers to help developers improve their ROI when it comes to including Smart Home Technology in their specification. Get it wrong and you’ve just loaded a house with kit end users will seldom use; get it right and it can help your property sell faster and for more money: win-win!
Living Home Technology has been involved in the high-end residential market since 2005. During that time, we’ve learnt a thing or two. Here’s our quick fire guide to getting it right.
1. Pick your market and act accordingly
Are you developing to sell for £1m or £10m (or yourself)? It may sound like common sense, but if it’s the former, you wouldn’t expect a 20-seater home cinema in the basement, so please don’t try and make it fit.
2. It’s said that headlines sell newspapers: this is true of property too
Whilst we can’t move your next project to that perfect street or postcode, we can help make sure you have some key headline ‘features’ that will appeal to your chosen market (see point 1).
3. Make it easy
Even in 2020, you would be surprised by the number of customers that have little or no experience with smart home technology and this goes for your potential buyers as well. So don’t opt for uber complex systems that would scare even the most tech savvy among us. Keep It Simple!
4. Ask ‘why?’ (often)
When looking at what you would like to add to your development, the first, middle and last question you should ask yourself is ‘why?’ If the ‘smart tech’ adds value to the property, it will also likely simplify or improve some element of the end user’s life. If you can’t answer the why, it probably doesn’t belong.
5. Get a design
A design gives you fixed pricing. A design gives you a start, middle and most importantly an end to your project. Without a design, you’ll be flying by the seat of your pants, all the way to a more expensive installation that will likely miss out most of the above points as well.