Despite its incredible capabilities, augmented reality (AR) is still mostly associated with games and entertainment. However, this adaptable technology has a plethora of other applications. Automotive, healthcare, retail, manufacturing, and other industries have already benefited from AR capabilities. And the real estate industry isn’t far behind, with augmented reality developers creating a variety of property development apps, some of which we’ll look at below.
As evidenced by apps from major home furnishing, hardware, and interior design retailers like IKEA and Lowes, augmented reality in interior design is incredibly useful. To make up for the lack of transparency in the industry’s adoption, we’ll show how augmented reality is gaining traction, how AR apps are being used, and how the technology is extremely valuable on both the supply and demand sides.
The Importance of Augmented Reality in Property Development
Let’s start at the beginning of the property development process. This is where you might think about enlisting the help of architects who are already adept at using augmented reality in their design work. Getting a structure off the drawing board and into the real-world environment is one of the most difficult challenges for architects, and AR appears to be a viable solution.
The ability to generate pop-up 3D models of projected structures, enrich them with additional digital content, and overlay them with animated simulations that analyze how people and equipment will eventually flow through and around them makes AR technology valuable in architecture. When projects move from prototyping to construction, AR can supplement or even replace fabricators’ and engineers’ digital drawings. Finally, AR will aid in the reduction of errors and omissions in development projects, allowing construction and development firms to save time and money.
Interior Design, Marketing, and Sales with Augmented Reality
Enhanced plans and drawings are, of course, beneficial to the marketing and sale of interior design. Because it can visualize how imagined or partially developed projects will look when completed, augmented reality could be particularly useful for marketing developments before they are even completed.
The focus shifts from form and function to more aesthetically oriented aspects, such as the look and feel of a building’s interior, at some point during this life cycle. Architects, designers, and marketers, and those on the demand side, benefit from augmented reality.
Property buyers of all types can use real estate software AR technologies to experiment with design elements. Moreover, it can define how rooms will look before committing to choices in coverings, furnishings, or fixtures, whether they work with professional interior designers or do it themselves.
The tangible benefits of AR for property developers, designers, sellers, and buyers remain elusive. Architect Greg Lynn, for example, refused to identify any specific future benefits of augmented reality for members of his profession when interviewed, despite his own positive experiences with the technology. However, in marketing and selling real estate, where AR technology is already widely used, the picture is clearer.
Buyers can use augmented reality apps to take virtual tours of buildings by pointing their smartphones at an image on the supply side. This can help to eliminate the need for costly and time-consuming property staging. The same applications can help marketers reach a wider audience by making it easier for buyers to make better-informed decisions from afar.
The advantages mentioned above also apply to demand. Buyers don’t always feel compelled to visit a potential purchase, which is surprising. According to Statista research, one out of every five property purchases in 2018 were made without seeing the property first. When 3D virtual walkthroughs are possible with just a brochure and a mobile device, not everything new is unavailable. Therefore, it allows customers to make faster, more confident decisions throughout their customer journey.
This is also true for local buyers, who, while they can conduct physical viewings, can save time and money by completing highly realistic, AR-driven virtual property inspections. During this, they can move around the visualization at will. This is already possible on websites that offer 3D virtual tours. However, augmented reality makes the experience more real—and more accessible.
AR also makes it easier for buyers to share their visualizations with friends, family, and co-workers. After all, what could be simpler than laying a photo down and taking a quick 3D tour with your phone?
Early AR adopters appear to be confident in their ROI
The benefits of augmented reality in interior design and property development are still somewhat speculative. The interest and investment in technology are undeniable too. Take, for example, Turner Construction. Turner is an international brand that is extremely well-known. They readily adopt new industry technology, such as augmented reality.
Turner claims that the $50,000 it spent on AR models for a specific construction project yielded a 10:1 return on investment. This is because the client had clear visibility of the completed project early on in the process. Therefore, he did not need to request changes during later stages of construction, according to the company.
What Role Does Augmented Reality Play in Interior Design and Real Estate Development?
The most significant roadblock to augmented reality’s success in real estate development, interior design, and other fields may be hardware. Powerful smartphones can be easily available. They may also be capable of rendering graphics. However, the lack of true immersion is AR’s biggest problem with these devices.
Immersion has a lot of upgradation
An ultra-modern kitchen’s beautifully clean lines displayed on a phone screen are undoubtedly better than real-life designs. The latter includes mismatched cabinets and cracked floor tiles visible in your peripheral vision. AR headsets or glasses will almost certainly solve this problem once viable designs are available. Moreover, people will also overcome their aversion to wearing them.
Perhaps in the future, services will improve as well. It will be due to combining AR with a human touch to provide custom AR interior design and architectural services. In a field where technology is constantly changing, we should expect the unexpected. Shortly, AR applications may take some unexpected new directions. In any case, augmented reality has found a welcoming home in the world of real estate development. Here, builders, sellers, designers, and buyers alike are welcoming it.