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Article Information:
Title:
Analysis of the value of home automation systems
Author(s):
Tony Petersen, Peter Williams, Anthony Mills
Journal:
Year:
2001
Volume:
Issue:
Page:
522 - 532
ISSN:
0263-2772
DOI:
10.1108/02632770110409503
Publisher:
MCB UP Ltd
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Abstract:
Smart technology involves the integration of a variety of home systems including lighting, climate control, security etc. to enhance the comfort, convenience and economy of the home for its users. It is currently unknown if homebuyers believe that these systems add value to the home. This study used the market value of home sales and an attitudinal survey of homebuyers, to determine the increased value of homes containing smart technology. The results demonstrated that a significant price premium was paid for the incorporation of the technology into new homes. In addition, the research suggests that the use of this technology is not limited to high-income earners or other demographic stereotypes. Instead it has broad market appeal and the potential to save energy for the community at large.
Keywords:
Automation, Building trade, Intelligent buildings, Technological innovation
Article Type:
Research paper