Operators in the built sector have claimed that smart buildings cannot reduce the high cost of homes which has produced a significant housing gap in the nation, Entrepreneurng report.
Olatunbosun Adaramola, a structural engineer, claimed in an exclusive interview that smart buildings use technology to improve living conditions but come at a high cost.
However, these smart features are relatively new technologies. They are prohibitively pricey and out of reach for the average person. Because experts in the constructed sector are in the business of making money and receiving a decent return on investment, particularly as private professionals, it will be challenging to make this luxury a reality for low-income people.
The target market for smart features cannot be low-income earners since the desire for profit overcomes the need for needs; rather, it should be average to high-income earners. It would take some time before someone with an average wage could pay off the entire expense of owning one.
The engineer believes it is inappropriate to offer smart houses to those with modest incomes.
But there is hope for low-income earners, in which additional research is done to minimize the cost involved.
Again, smart housing and low-income earners are on two different spectrums of the architectural, engineering, and construction business, according to Ayomide George, the Principal Partner of OddSpace Consult.
He claimed that because smart housing is expensive and a luxury element that would be challenging to maintain, it is primarily affordable to middle- and high-income workers.
In a similar vein, Aina Olufemi, an architectural technologist, claimed that smart buildings will use a lot of electricity, necessitate skilled engineering to install the necessary equipment, and necessitate ongoing maintenance.
“The expense of maintaining a smart structure is expensive; a greater proportion of Nigerians are impoverished, and not all city officials are paid well,” he claimed.
So, having a smart building would result in higher costs, particularly for power. Its operating expenses are excessive and unsustainable.
Nevertheless, the wiring in the building would increase the electrical wave in the building, which could result in an electric spark at any time. As a result, they would need to use high-quality electrical equipment, which would be very expensive.
Olorunyomi Alatise, an estate surveyor, discussed the cost and pointed out that the affordability of smart buildings depended on how sustainable and full of green features the building was.
For example, the Sterling Bank at Lagos Island’s Marina is a good remark. It is a building that is completely covered in solar panels and is intended to run on its own. But it was quite expensive, so anyone wishing to rent a space in the building should be prepared to spend a fortune.
You cannot expect an investor to rent or sell a green building that they have invested billions in at an absurd price that is lower than the going rate because of the smart features it has incorporated. As a result, affordability is based on the complexity of the structure.
Even an economical home might not be, in his opinion, given the exorbitant costs of construction materials. Sogo Oyesode, the facility manager at Eleganza Estates, added that smart buildings are cost-effective over a considerable amount of time.
In conclusion, the idea that it is inaccessible to or off-limits to people with low incomes depends on the type of building being constructed. Also, even if you initially are unable to add smart features to your building, you may always do so later on when you have more funding.
Source: PunchÂ
