The power and accessibility of technology has become a right and not a privilege for many. It’s no longer new and exciting to find out someone has the latest iPhone, television or Xbox anymore and yet we find ourselves still pretty obsessed with ‘what’s next’.
The mantra, ‘location, location, location’, has rung true for many years, and though it very much exists as one of the most important factors when owning a home, the rise of smart technology is upping the value of one’s home and therefore an attractive feature for future homeowners. TV property expert Amanda Lamb and tech guru Stuart Miles have revealed ‘connection, connection, connection’ is the latest craze for homeowners when moving in.
But what exactly does smart technology for your home offer?
According to The Digital Homes report from Barclays Mortgages, the demand for smarter homes is on the rise, with nearly one third of homeowners believing that connected technology can not only make your home far more economically efficient, but can add worth. Traditionally, installing a brand new kitchen, crisp new bathroom and insulated windows were ways of adding value to your house; and though interiorly decorating your home is part of it, smart technology is joining the ranks and will no doubt take supremacy in the coming years. Today’s generation is a lot more concerned with ‘saving’ money and being aware when your upstairs, to turn off the lights downstairs. Anyone will know, teenagers who have a new lease of responsibility, seem to forget the value of money when leaving plug sockets on and so the trend for smarter homes is increasing.
Barclay’s survey was conducted with the help of YouGov, surveying 2000 homeowners. The results were astonishing – 41% already have some kind of connected technology in the home. With the demand for media streaming at its strongest, households are investing a larger amount of cash into their home broadband. Interestingly, most people consider fast broadband and smart heating to be a necessity and will regard it as more important than a large garden.
In contrast to the above five technologies that are proving to be most popular for homeowners to install to add value to a property, there are a number of smart home gadgets that are not yet leaving the banks of homeowners dry (yet!). The following technologies are ordered in terms of importance and the least likely homeowners are to spend extra money on:
- Smart fridges (4%)
- Smart doorbells (5%)
- Smart Ovens (5%)
- Mobile phone signal boxes (8%)
- Induction cooktops (8%)
Despite the items homeowners are currently less likely to invest in, John Lewis has become the first UK store to launch the largest smart home technology experience at their Oxford Street store. 1,000 sq. ft. in size, the experience showcases its most cutting edge and experimental range of futuristic smart home designs. The area is divided into four – kitchen, entertainment, sleep and home monitoring and you can view anything from ovens that can be controlled directly from your phone as well as smart fridges that will order a product you have run out of. Johnathan Marsh, buying director for electricals and home technology at John Lewis has commented: ‘We are seeking to demystify the latest smartest technology for our customers.’ John Lewis has seen an 81% growth in sales of smart home products over the last year. Consequently, the number of visitors visiting the website for smart home technology has increased by 18 times!
Product images: Credit John Lewis
Furthermore, research conducted by Barclays also found, homeowners were more than willing to pay in excess of £10,000 for technological advances around the house. Homeowners were keen to invest in smart energy meters; and more than half see it becoming a standard feature by 2020. Other quirky products on the market include Samsung’s Smart fridge, which has cameras on the inside door so you can determine which product you are running low on from your phone when shopping. Not to mention, there are smart locks, smart lighting and solar panels.
So what does smart home technology really prove?
By 2017, major players such as Apple and Android will enter the smart home technology market, launching products on a mass scale that will entice consumers to add a level of home value like never before. The connected home as a theme was one of the largest trends for the Consumer Electronics Show in Las Vegas and IFA; Europes largest trade show for technology. In Barclay’s report, out of 2,734 UK homeowners, they ranked the top ten connected technologies that are likely to prosper in the coming years:
Fibre Optic Broadband – 51%
Built-in USB sockets – 36%
Smart Meter – 35%
Smart thermostat – 29%
Solar Panels – 27%
Sensor Technology – 26%
Smart Lighting – 23%
Smart Security Alarm – 23%
Smart smoke detector – 20%
Smart home hub – 19%
After all, 28% of Brits claim property is more appealing with smart technology so why not invest now!
IMAGE COPYRIGHT: All product images used in this article has been sourced directly from the retailer’s and all images have been licensed to use.