In our last blog post we talked about some of the benefits associated with smart home automation. Not only can smart homes increase your safety, they can also improve your peace of mind while traveling, reduce your electricity bills, and allow you to make adjustments to your smart devices from anywhere that you have a cell phone connection.

But how much does it cost?

The cost of smart home automation will depend on a variety of factors. For example if you’re wanting to start by purchasing a couple of smart plugs (which will allow you to automate when certain lights turn on and off, and also allow you to turn those devices on and off from your cell phone), you can likely do that for less than $100, depending on the devices you buy.

Smart thermostats, on the other hand, start at about $80 and go up from there. Are you looking to incorporate one or more smart appliances to your set up? If this is the case, you have a wide variety of options to choose from, such as smart refrigerators, smart stovetops, washers, and dryers.

You also can opt to install a smart home security system, a smart in-home theater system, and more, depending on your wants and needs.

As you can see, the costs associated with smart home automation can span from a few hundred to more than $10,000, depending on the level of automation (and technology) that you’re interested in.

Fun stats and data

According to a 2022 study by ResearchAndMarkets.com, as of 2021, the installed base of smart home systems in North American markets increased by 18% from levels recorded one year prior. The study also found that an estimated 30 million of these homes were multi-function or whole-home systems, against 193.2 million that were designed for just one specific function.

The most popular point solutions up to that date, in terms of sold units, included smart thermostats, smart light bulbs, smart plugs, connected security cameras, and voice-controlled smart speakers. Not only is consumer interest in smart products strong, it continues to grow rapidly. That interest is being driven by consumers’ desire for increased efficiency, especially in that energy prices continue to surge and interest in sustainable solutions is still climbing.

Final thoughts If you’re interested in learning more about smart home automation and you’d like more information about smart home automation costs, we can help. Call our office today to speak with a local expert.

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