Real Estate Investor Magazine South Africa February/ March 2020 | Page 26

MANAGING
Coming soon to
a street near you
Why it's time to invest in smart
home technology
AMY STEADMAN
P
urchasing real estate is a long-term investment and
owners need to consider what sort of futuristic appeal
their property will have. As technology continues to
rapidly transform the world, properties need to evolve and
investors need to look to the future.
We are part of the digital age, where technology is
transforming and evolving at an unbelievable rate. If you
haven’t heard of the phrase “The Internet of Things” (IOT), it
was a term coined in 1999 by entrepreneur, Kevin Ashton (one
of the founders of the Auto-ID Centre at MIT). It’s a popular
topic when it comes to digitalisation and innovative changes
to traditional industries. When applying the concept of IOT to
a private household it becomes more commonly known as a
smart home.
Towards the end of 2018 we saw the idea of ‘smart homes’
infiltrating the country. Smart home functionality includes a
vast range of gadgets to control lighting, security and comfort.
There’s been an increase of capable installation companies
offering these features and technology within South Africa.
Adrian Goslett, Regional Director and CEO of RE/MAX
Souther African says: “We are in an era of exponential change,
which means that we are a lot closer to living in smart cities
than many might think. Buyers should therefore consider how
things might change over the course of their loan term and
whether the property lends itself to being adapted towards
future trends.”
Something to consider with smart homes are the ongoing
costs involved. After installation their cost of after-sales support
will most likely work out to be more important than the upfront
price. The good news is that smart home technology continues
to become more accessible and cost-effective.
Leading tech companies such as Apple, Google and
Samsung have all invested in home automation systems and
have shifted their focus to bringing advanced technology
24
FEBRUARY/MARCH 2020 SA Real Estate Investor Magazine
THE COST OF AUTOMATING YOUR HOME
The Control4 controller costs R9 590. Depending
on how much you’re integrating, you may need a
larger or additional controller.
Control4 4Sight annual subscription costs R2 590.
Home automation systems use high-speed internet,
so factor that into your budget.
Factor in the cost of altering your lighting with a
trusted electrician, and installation costs with a
certified Control4 integrator.
indoors. You can control everything, from room temperature
and lighting, to you your home security system (all from one
device) using high-speed internet connection. It’s only a
matter of identifying what you’d most like to automate. Home
automation can be costly, but it depends largely on your
budget and needs.
“Something to consider
with smart homes are the
ongoing costs involved. After
installation their cost of after-
sales support will most likely
work out to be more important
than the upfront price.”