Smart home features are becoming more and more common in U.S. households. While the needs of each home vary, residential tech automation can involve energy management, digital security, app-controlled entertainment, lighting, climate control, smart appliances, and various AI (artificial intelligence) hubs and gadgets. According to a 2019 report by Statista, one-third of all homes in the United States use some form of smart home technology, and it is predicted that over half will have it by 2023. What does this mean for new home builders? Will they be competing with tech companies for business? The structural home builder warranty experts at PWSC take a deep dive into the evolving requisites of residential developers and explain how they can stay ahead of the smart home wave and protect their profits by incorporating risk management solutions.
The Impact of Technology on New Home Construction
The impact of technology on new home construction is two-fold. Advancements in tech are happening everywhere, and many involve solutions for operating a business more efficiently. But that’s only half of it. The Internet of Things (IoT) is gaining traction, and businesses (including those in the building and construction industry) will need to keep up in order to stay afloat in the next few decades. In addition to embracing digital innovation and utilizing new technologies to run a company, new home builders are also having to consider including the option of smart home upgrades in their home designs. While some homeowners opt to install automated tech into their homes after purchasing a property, certain smart home amenities are now considered to be turn-key requirements.
The Future of Residential Development
Some home builders who provide customizable packages to buyers are now offering smart home upgrade options as well. Automated tech is emerging as an integral component of the construction market, and it appears that the future of residential development will be intertwined with the smart home industry.
The most in-demand smart home amenities of 2019 include:
- App-controlled video surveillance
- Digital doorbells and home locking systems
- Outdoor irrigation control
- AI thermostats
- Automated window coverings and garage doors
- Voice-controlled entertainment systems
- App-controlled outlet plugs
- Automated lighting
- Wireless charging
- Universal remotes
- Smart appliances
According to Bloomberg columnists, Sam Kim and Kyunghee Park, some tech companies, such as Samsung, are in talks of building smart homes themselves. However, it appears that plans have not gone further than a conceptual phase. While large tech companies may compete with new construction home builders in the future, the current trend is a partnership between the two. Read More- Click Here