A more efficient design process through faster choice of design options
One of the main advantages of bringing VR into the design process is the ability to make better decisions at earlier stages. Architectural design is an ongoing process of weighing proportions, sight lines, materials and many other factors.
All of these can be checked and refined by "stepping" into the project. For example - the distance between two parts of a building connected by a landscaped area. You can check and estimate the right distance between the buildings by analyzing plans and elevations at one scale or another, but it is much more authentic and convincing to simply "be there" - walk, see and feel the right space at human scale.
Deciding on the better option at an earlier stage of the project costs less than deciding at a later stage, which drags many changes elsewhere.
Lower costs through early detection of problems and clashes between disciplines
A well-known principle in industry in general, and in construction in particular, is that the earlier you find a problem, the much lower the cost of fixing it, while fixing problems at later stages becomes much more expensive and complex (the "V" funnel).
For example, changing a pipe route at the early design stage is much cheaper than having to change it at the detailed design stage. VR allows clash checks to be done visually and clearly - users simply 'see' the problems in the virtual space, which makes it much easier to find mistakes or failures in the design.
Anyone who has not hugged with their own (virtual) hands a pipe that "cuts" through a window will not understand the beauty of the new technology, which reveals design problems clearly and instantly.
Savings on marketing costs and faster sales
VR technology is a revolution in marketing and selling real estate projects, because it builds a bridge between the client's rational thinking and their emotions. On one hand, using VR saves the cost of producing expensive visual material, such as 2D renderings, which used to be the main tool for convincing clients.
On the other hand, VR technology brings the project to the client on a deep, immediate emotional level. The virtual experience lets the client "walk into" the space, feel it and connect to the project personally, which leads to a much shorter sales process.
VR technology as the future work standard
Like every revolutionary technology, VR is expected to soon become a standard in the design and construction industry. Just as 3D models replaced 2D drawings, VR is expected to replace the 2D screen and provide a more efficient design tool, one that allows a design experience at 1:1 scale. Once this technology is accepted as a standard, the talk about its ROI will become unnecessary - it will be an inseparable part of the work process, and whoever adopts it earlier will gain.