The Saga Of Real Estate And Technology: 5GFebruary 16, 2021
The real estate realm has long benefited from technological advancements. With technology at the forefront of even more significant developments, this booming industry is expected to make tremendous strides. Fueling this progress is 5G, which is best defined as a global wireless standard that’s powering innovation through all-embracing connectivity. If not for its predecessors, 5G wouldn’t the breakthrough technology it is today.
The Rise Of 5G
The first wireless technology was 1G, and this network powered earlier renditions of modern cell phones. Soon after, 2G came to fruition, and this new generation promoted reliability and accessibility. Before long, 3G came barrelling in with its increased speed. Thanks to its rapid rates, 3G successfully combined cellular and mobile computing functions. As a result, the smartphone was born. Equally impressive was the development of 4G, which brought with it streaming capabilities, all-inclusive apps, and internet browsing.
With everything that 4G offers, it is hard to believe that 5G can outdo it. However, with technology, there is always room for improvement. In addition to being faster, 5G will also reduce delays and, in turn, connect to more devices seamlessly. Not only will this satisfy our need for instant gratification, but it will also enable us to live in a world of unprecedented digital connection.
How 5G Will Impact Real Estate
Most notably, 5G will prove more sustainable. Using 90 percent less energy than previous versions, 5G will lower home automation costs and encourage efficiency. Regarding security, 5G will make it easier to retrieve data from surveillance cameras. Best of all, this footage will be more precise, providing homeowners and property managers with great peace of mind. The introduction of 5G will also be advantageous to property owners.
Cell towers that rely on 4G can only communicate to large cell towers. However, 5G can transmit to smaller towers, allowing property owners to profit from this enhanced telecommunication. Currently, annual cell tower lease rates set property owners back about $45,000. Lower costs will accompany the switch to 5G because smaller towers transmit information much more efficiently. For optimal profits, property owners should consider a fixed amount for equipment to charge more if the telecom decides to include more equipment.
Above all else, 5G will help homes stay connected through appliances, fixtures, and building materials. In other words, it will be simpler to remain privy to ongoing changes, spot vulnerable areas, and meet growing necessities. For instance, Roofs will be connected through 5G, signaling when the gutters need to be cleaned, when shingles have come loose, and when the roof needs to be replaced.
Similarly, refrigerators will come equipped with sensors that send reminders when a homeowner is running low on food. With additional features, you can set your fridge up to automatically order these goods when they hit a certain level. This unmatched level of convenience will allow us to relinquish otherwise tedious responsibilities.
Meanwhile, commercial real estate owners will have coveted access to usage analytics, breathing simplicity into collecting, analyzing, and visualizing data. In addition to streamlining affairs, this will also make it possible for commercial property owners to avoid costly oversights. Virtual reality tours are predicted to become all the rage as well, which will prove a godsend to real estate agents. As our world continues to evolve, real estate will reap the benefits of our ever-adapting ways for years to come.
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