Concept homes are different from traditional homes in many areas though the variations may not be drastic. There are many apartments and homes in Chennai which are being customized to be concept homes. Concept homes basically are homes which are designed for the convenience of the people like child friendly homes, homes for senior citizen and golf homes etc.
Concept Homes are also likely to command a higher premium than traditional homes, depending upon the concept. There is considerable potential for these customized housing solutions across markets in India. There are higher construction costs for additional amenities and services provided by developers in the projects depending on the concept. This varies for Senior Citizen Homes and Golf Homes to Child Centric Homes and more. Concept homes can be altered whenever needed like any other traditional home.
Homes with automation and technological use are also nowadays termed as smart homes. These homes have home automation, light sensors and hi-tech security, remotely observe and control and others. Concept Homes follow a particular theme and are centered on it and there are many types of Concept Homes.
Smart homes may not only be apartments but mostly tend to be independent villas or houses and like any other house these have its own pros and cons. When starting with the pros, the first point is that it is customized for the people and the people can have better engagement within the resident community. Though the construction of such concept homes may cost a bit higher than normal homes, they do yield higher rentals than normal homes. Finally there is a sense of pride when you own a house which is customized according to your tastes. The cons of such homes are lesser than the pros starting off with the higher operating and premium rates which are to be paid for the customization of the homes. The main drawback may be that the target audience for such niche market is very less.