VR might be regarded as a niche, expensive product by many, used for entertainment purposes primarily, but this incredible technology is beginning to get adopted by many different companies and is now more mainstream than ever. Starting with being typically associated with video games is not a bad thing for new tech products, as that area is often a testing ground for what will later become mainstream, and that is undoubtedly true of VR.
But how does it work, and how can it help with investment? Take a look at this guide for more information.
What is virtual reality?
Virtual reality (often referred to as VR for short) is a fully 3D, computer-generated immersive environment, that puts you in the centre. Rather than watching a film or television show play out from the perspective of someone else, you are placed in the centre of the experience with a first-person view, and it plays out around you. This authentic and true-to-life view, the feeling of which is unachievable with regular 2D images and video, is why the technology is so prevalent in a wide range of areas, from training methods for surgeons, to therapy and relaxation.
What are the side effects?
As VR is a technology that is still in its infancy, the equipment does have some teething issues. For starters, the cheaper the equipment you go with, the more straining on your eyes and head it will be, as the higher-end headsets often have extremely resolution and quality screens to prevent latency issues and get as close to real-life as possible. With mobile VR units, you are essentially putting your phone screen directly in front of your face, and so prolonged use and exposure can cause headaches, nausea and motion sickness.
Top-Tip: When using VR technology, remember to take regular breaks, to avoid doing damage to your eyes. As with any other tech that you might have, it’s up to you to know your own limits, but some recommend a 10-15-minute break for every hour of usage. Again, this will depend on the level of equipment you have, and the space you’re confined to, as not all VR units are created equal.
The effect on property investment
With Off-plan investment – The process of investing in a project that hasn’t yet reached completion – Property Investment companies, such as RW Invest, use VR immersion to give potential investors a look into what their build will look like when completed. While off-plan might have been a point of trepidation in the past, seen as a bit of a risk, the adoption of VR in giving insight is helping to combat potential worry, and is now heavily relied upon for a lot of off-plan projects, not just for uncertain buyers but also for the growing demand for international investors, something that would not have been possible before.
Not only does this give buyers early-bird access to a given property, usually at a more affordable price, but in areas that are in high-demand the house prices are continually rising, meaning there is a potential for capital appreciation before the project has even been finished. Affordable payment structures are also typically available on projects like these, allowing you to pay in instalments alongside a detailed development schedule, watching what you have foreseen with the help of VR come together in reality.
The teething issues discussed above will also not necessarily affect usage by property companies, as the typical viewing doesn’t last too long, and headaches and nausea associated with the technology only come from extended use without breaks. Companies also often optimise their viewings for the best hardware possible, making it a lot more comfortable than just strapping on a cheap headset.
Did you know? As it is increasingly adopted into homes around the country, VR is becoming more affordable than ever, and is available in a variety of different form factors. From cheap and cheerful options for people that just want to experience this growing phenomenon, such as Google Cardboard and mobile VR units, to more expensive and immersive experiences, such as the HTC Vive, there is something for everyone, and the technology is easy to access. VR is set to increase in popularity also, estimated to increase in market value to over £354 million by 2020.