Economic sustainability
Cost-efficiency + peace of mind + higher resale value = economic sustainability
A Smart House is cost-efficient. This means smart features are included in the initial design and construction, reducing the cost of changes and modifications in the future.
Buying or building a home is one of the biggest investments you can make. There are many hidden costs in housing that can dramatically add up over time. As well as the costs of renovations/modifications as your needs change, there are the operational costs of ongoing maintenance, heating, cooling and water bills, insurance and landscaping.
A Smart House achieves cost-efficiencies in many ways:
Construction costs
Ongoing running costs
Living costs
Long-term maintenance costs
Future modification costs
Resale value
Peace of mind
Cost-efficiency for our community
Construction costs
In a Smart House, you can achieve cost savings at the initial design and construction stage through the use of cost-efficient building materials, economic planning and 'smart' ideas.
For example, standardising the size of wardrobes, kitchen cabinets, windows and bathroom vanities and specifying ‘recycled’ and ‘readily available’ materials can save money.
Ongoing running costs
Ongoing costs can really add up over the life of the home. Significant savings are to be gained by carefully considering the design of the home and which fixtures and fittings to include.
For example, energy-efficient showers and taps use less hot water and can save up to $100 or more a year on energy bills.
Living costs
Smart design features can save you money on a variety of everyday expenses such as cleaning, replacements and repairs as a result of accidents and breakages.
Long-term maintenance costs
Careful choice and selection of materials and the well-thought out design of a Smart House reduces both repair and ongoing maintenance costs.
For example, using self-finished materials such as bricks can save you $15,000 (in today's dollars) in external painting costs over the life of the house.
An indicative Maintenance Management Plan is an important tool to help you identify how much building materials and design choices will cost you over the life of the home. Ask your builder or designer to assist you to prepare an indicative Maintenance Management Plan at the initial design stage. Often the ongoing and long-term savings will outweigh any initial cost.
Future modification costs
People's needs change over time. A couple becomes a family, an individual makes the move to work from home or an older person becomes less mobile. Each will require their home to work in different ways.
Altering an existing home to accommodate changing needs can cost up to three times more than including the same features in the initial design and build stage.
A Smart House has been universally designed, and will work for a range of people of different sizes, ages and abilities.
Resale value
Smart Housing features can lead to a greater demand for your home - the greater the demand, the higher the resale value.
A Smart House will meet the needs of a greater range of people and therefore attract a larger market. With a massive increase in our ageing population and more people wanting to stay in their own home longer, a flexible and accessible home will become an increasingly valuable commodity.
Peace of mind
In a Smart House, the design and choice of fixtures and fittings have been carefully considered to ensure the safety and well-being of the occupants. This may reduce the risk of injury and therefore save on medical expenses, hospital bills and lost wages due to time off work.
Cost efficiency for our community
Cost-efficient housing also means savings for our community by reducing the cost of housing on the environment; reducing the likelihood of injury and the burden on the health care system; and reducing the incidence and cost of crime.
For more information
For more information about designing housing to be more cost-efficient, contact the department.
Last updated March 2007
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