Can Smart Home Devices Save Me Money?

The new Smart Home wave has been urging people to purchase newer and more technologically sound devices for everyday use in their homes. Some are anxious to upgrade their home because it makes their house seem a lot cooler whenever guests visit. Others refuse to spend their hard-earned money on what they believe is an unnecessary device that is complicated to use. What if transitioning to a smart home has less to do with the cool effects and confusing devices and more to do with saving money over time? Investing in smart devices can be a great way to save money on the everyday expenses that many stress about.

The average household spends about $2,000 a year on utility costs, and 12 percent of that accounts for a home’s lighting. The most common method of turning off lights that aren’t being used is still a manual switch. Unfortunately this method is only as effective as the homeowner, who may or may not be forgetful. However, entirely changing the type of lightbulb can save homes a lot of money. LED lights use 80 percent less energy than traditional fluorescent or incandescent lights.

Besides the fact that LED lights use less energy and last longer, they can also be integrated into a smart lighting system for your home. With smart lighting, you are able to control the lights from anywhere in your house with an easy-to-use app and save money by turning them off wherever you may be. Keep your lights on only when you need them and savings will start showing up in no time.

Alongside a smart lighting system, smart security devices can save you money and give you peace of mind. Having the ability to turn on your security system with a push of a button can save money in two different ways. Each year, approximately 1.4 million homes are burglarized, with the average loss being just over $2,400. When insurance companies have to pay out claims, rates usually go up as a result.

Another option that saves even more money, many insurance companies offer discounts on monthly premiums if you have a security system installed. By minimizing the risk of a claim, you are able to save money.

One of the biggest budget savers that you can have is a smart thermostat. Your home’s heating and cooling system accounts for half of your utility bills. With a smart thermostat you no longer have to sacrifice being comfortable in your home in the winter or summer due to astronomically high electric bills. A smart thermostat can save homeowners up to 12% on their heating and cooling bills, according to a Vivint-commissioned study by WattzOn. The system’s Smart Assistant uses GPS, in-home sensors and your city’s climate to auto-adjust your temperature and help you save money even when you’re not home.

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