71% Of Americans Want A Smarter Home But Find The Upgrade Too Expensive

A survey by home automation company Wink involving 2,177 adults found that 71% of Americans want a smart home and its monitoring capabilities.

smart home image with icons

The positive sentiment towards smart homes isn’t surprising. After all, who wouldn’t want their lights, thermostats, refrigerators, and security systems to do all the mundane work? However, the same survey found that only 27% of Americans purchased a smart home device.

If smart homes are hot right now, how come the majority of the US homeowners are still on the fence about smart homes?

Wink’s survey also has the answer:

Perceived cost.

When asked about potential cost, over 30% of the survey participants said the upgrade would need more than $5,000. On the other hand, about 9% estimated the expenses to sit at $20,000!

Now, smart homes aren’t created equal. Some can indeed cost up to $20,000, but this figure is in the realm of really high-end home automation.

However, you should know that you can build an automated home with a small starting budget. For $200, you can get a basic home automation hub plus a few smart lights to get started. From there, you can purchase more smart devices to connect to the hub as you deem fit.

Note, too, that home insurance companies can slash monthly premiums or even pay for the installation of the devices up front. You see, homes with smoke alarms, security systems, leak detectors, and other smart safety gadgets are safer than a home without one. Therefore, providing coverage for the former is a lot cheaper for insurance companies.

And perhaps the most important argument against the perceived costliness of smart homes:

It can save you money in the long run.

Smart lights, outlets, and learning thermostats, for example, can regulate their performance and energy consumption depending on your usage. Moreover, you can set them to switch off and on at certain times of the day so your home doesn’t waste any power. Given enough time, these smart home devices will pay for itself and keep reduce your utility bills.

So the bottom line:

Smart homes are not as expensive as most people think.

As things stand, home automation is still a domain of tech-savvy folks with a lot of money to spare.

But the status quo will change as gadget-makers find new ways to speed up production and minimize manufacturing costs. This has happened to the computing and telecommunications industry. So why not smart homes? 🙂

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