Updated: Nov 2, 2022
Everyone has heard of a smartphone, but what about a smart home? A smart home describes a home that has implemented technological devices to make life a little easier. We’re not just talking central air conditioning and surround sound – a smart home allows you to control appliances and various settings throughout your home remotely from a smartphone or tablet. Smart homes and their technologically advanced devices are taking the United States by storm. Millennials are the first generation gap to grow up and enter the home buying market with technology readily at their fingertips. The need for the convenience technology brings carries over into their homes. Take a look into the future of smart homes with us to discover what some of these technologies are and why you should consider jumping on the smart home bandwagon.
Smart Home Infographic
What is a Smart Home?
A smart home is any home that has at least three different categories of technology to increase convenience and ease. Home automation requires a high speed internet connection and a device to control your home such as a smartphone or tablet. Examples of smart home technologies can include:
Basically, even if there isn’t a “smart” replacement for an item in your home, any appliance you have can be added to an automated system by using a smart plug. A smart plug makes any outlet in your home a smart outlet and allows you to easily control everyday items such as coffee makers, crock pots, or lamps. The plugs connect to a central hub and run off of WIFI, which can be controlled by your phone from anywhere in the world, as long as your phone can find a signal.
The smart plug can allow you to set your coffeemaker to start brewing every morning at the same time, control the thermostat so your home will be varying pre-selected temperatures throughout the day, and time your outdoor lights to turn on at dusk every evening. Think you accidentally left the garage door open? Close it with the push of a button on your phone. The possibilities for remotely controlling and monitoring your home are becoming endless.
Why Should I Invest in a Smart Home?
The only constant in life is change, and technology is constantly changing. Every new idea or invention has the same common goal in mind – to make people’s lives easier. Smart homes do just that. Other than ease, these homes bring many other benefits to the table, including:
Lower Utility Bills
Convenience for People With Mobility Issues
There is no cost comparison for true peace of mind. Protecting your home through a smart security system essentially gives you the power of Fort Knox at your fingertips. From your phone, you can ensure everything is locked and secured, perform scanning and motion tasks, and can even set up an automated alert to the police if security is breached. Smart locks can be locked or unlocked from your phone and can send you notifications when a door has been unlocked. Video doorbells can now let you see and record who is at the door before opening it. Many smart security systems also provide smoke detectors and CO2 detectors as well.
Over time, investing in a smart home will bring a greater return than your initial costs. In 2018, the average monthly savings for smart home users was $98.30, which adds up to about $1,179.60 each year.
Energy usage can be viewed and limited at any time from your phone to help stay on top of your monthly bill. The system can show you what appliances are using the most energy and why, so you can make adjustments to reduce usage. Lights, fans, and air conditioning can be set to only run at certain hours of the day when they’re needed most. Screen time for televisions can also be limited for children.
It’s no secret that making your house work for you will save you time. Seemingly minute tasks here and there don’t seem like much of a hassle until you don’t have to do them anymore. Most smart home users claim they save an average of 30 minutes each day due to their helpful devices. Mornings getting ready for work will be less stressful, evenings will be easier and more enjoyable, and you will have more free time to spend enjoying your life instead of worrying.
In addition, people with mobility issues can now be more independent and have a better quality of life. With the ability to control so many home items from your phone, you don’t even have to move to get a lot of things done. These technologies allow people with difficulty getting around to be more self-sufficient and successful, and may even improve their self-esteem since they will be able to do many things by themselves with only the touch of a button.
How the Smart Home Market Looks in 2019
Statistics show that by 2020 – next year – the smart home market will reach over 40 billion dollars in the United States alone.
57% of Americans that own smart home items confirm they will continue to utilize and increase their smart home productivity
54% of current homeowners plan to invest in smart home products to increase the value of their homes
47% of millennials already have smart products installed in their homes and will continue to upgrade them
81% of all potential home buyers claim they would be more likely to purchase a home if a smart system has already been installed in the home
This data clearly shows that the smart home market is booming and people will continue to move forward with home automation. If you’re in the market to sell your home, definitely consider spending a little extra on smart home items to meet rising consumer demands, sell your home faster, and get your asking price.