Chicago Relocation
 

Smart Homes

June 2, 2014

Filed Under
Luxury Homes,Technology
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John D’Ambrogio

Some comments from Baird & Warner’s Sean Hyland

Today marks the start of Apple’s Worldwide Developers Conference, where the innovative tech giant is expected to announce their entry into the smart home market.  That’s right, smart homes, not just smart phones.

A smart home  is a house where all electronic devices can be controlled via a remote system in a phone, tablet, computer, or the user’s voice.   This includes heating, lighting, security and other appliances.  No longer will you have to suffer through the agonizing uncertainty of whether you forgot to turn off the stove or lock the front door on your way out, the smart home system will put your mind at ease.  You can adjust these devices from anywhere with your remote control.  Certain smart home technology can even detect when you’ve left and will monitor your home to keep it at the settings you’ve typically preferred.  I know, pretty reminiscent of the Jetson’s house.

So now you’re wondering how this new technology will affect the real estate market.  Well, experts at the Eindhoven University of Technology have written an interesting paper on the subject, which you can read here (fair warning though, it’s a whopping 16 pages).  The introduction of smart homes could cause major changes for real estate in terms of insurance, leisure, home security, education, and data collection.

While this technology may seem very futuristic and improbable, it is actually a lot more imminent than we may believe.  There are already tons of home automation products  for sale and there are several smart homes currently on the market (I hear Bill Gates  has had some great smart home technology for years).  Experts in the field have marked smart homes and home automation systems as a major trend of 2014.  Sales of these products are expected to increase to $9.5 billion by 2015 and to $44 billion in 2017.

Get ready Chicago, it’s the future.