Are Smart Home Devices Worth the Investment?

smart home devices

Smart home devices are the future of household automation. The Internet of Things – as people have been calling it – is a massive industry that analysts predict will reach nearly 30 billion household units by 2020.

The future is in home automation, but is it worth investing in these devices now? We would argue that you should.

Saving Time

One of the main reasons people invest in smart home technology is because it makes their lives easier. Instead of searching for the remote, you can turn on your TV with your voice. When you want to know what the weather is going to be like, you can ask your virtual assistant, and they’ll have it for you.

With a smart device, you can even keep your schedule together and have the assistant read it back whenever you need a reminder. These devices make life easier, which is one reason they boost the property value of homes.

Saving Money

Although it will cost some initial money to get the devices set up in your property, you could find that you save money once you install them. Nest – a smart thermostat company – completed a study that showed their customers saves 10%-12% on their heating bills and up to 15% on cooling once they added the smart thermostat to their home.

With this in mind, the smart thermostat will pay for itself in two years or less. These thermostats are relatively cheap, but if you want to add to your savings, you could purchase a smart washing machine or smart lighting setup.

Both of these systems have more initial cost, but once you have them in your home, you’ll start seeing the savings every month.

Keeping You Safe

Smart home devices also help make your or your tenants safer, which can translate into more savings on insurance premiums as well. Devices like smart smoke detectors can save you money on your premiums every month, as well as make sure your property is safe from fire, carbon monoxide, radon, and other threats.

Additionally, smart security systems will keep your property safe from burglars, alerting the police as soon as someone nefarious enters the property. Top-of-the-line homes require the best security systems, and these smart home devices don’t cost as much as you might think.

Selling a Smart Home

Smart technology adds value to a property. 64% of millennials think that this technology makes homes safer and more enjoyable, and they’re willing to pay.

Smart technology is the future, and you can outfit your home with these devices for relatively cheap. Once they’re in there, they’ll boost your property value and make it easier for you to sell the home when the time comes.

Adding Smart Home Devices to Your Home

Whether you’re living in the home or renting it to someone else, smart devices make the property more valuable, safer, and more cost-effective. Smart technology is the future, so invest in it now and make it that much easier to sell the property when the time comes.

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