British writer and inventor Arthur C. Clarke once postulated that “any sufficiently advanced technology is indistinguishable from magic”. If this is the case, then the modern world is certainly chock full of sorcery and illusion. It seems that every other day some new technological wonder arrives on our doorstep: 3D printing, autonomous vehicles, connected devices and appliances. It can often feel that we are already living in the future, and with every new step forward, the next is that much easier.
But why only imagine what the future holds for property, when we can already access some true technological marvels?
Drone-based property inspections
Whether you are buying your first or your next home, performing a property inspection is an integral part of the process to ensure that you don’t accidentally buy a lemon. The foundations, the wall cavities, the roof space – every nook and cranny needs to be checked. According to Archicentre, almost one in 10 New South Wales homes need $10,000 or more worth of repairs just from water damage: that’s not an additional cost you’ll want on top of your home loan.
Avoiding this unwanted surprise is exactly why Feron Property Management uses aerial drones to conduct its property inspections.
“We decided to use an aerial robotic because it offers our property owners a level of service not seen before and allows our eyes to leave ground level,” explained Owner Chris Feron to the Real Estate Institute of New South Wales.
“For example, we can see roofs and blocked gutters full of leaves which can cause water leak issues.”
You can imagine how helpful this not only for professional property inspectors, but also for prospective buyers who want to ensure they are getting the full picture before shelling out.
The power of virtual reality
Let’s say you’ve found a great place in a fantastic area, but for whatever reason you are unable to attend an open home. Have no fear, for virtual reality headsets such as Google Cardboard or the Oculus Rift could soon give you the opportunity to take a visit through digital means.
This kind of technology could also let you visualise how the home would look with your own furniture, a new style or even a new extension. While still in its infancy, these devices are already taking the property world by storm, with multiple interior designers, architects and even real estate agents using them as part of their services.
Modern technology is making us more connected and more informed in our purchases. If you’d like to improve your own financial knowledge or investigate a range of home loans, make sure you get in touch with the forward-thinking team at Border Bank!