What Can a Smart Home Save You In Costs?

There’s no doubt about it – a smart home makes life easier. Despite this, one of the first things people ask themselves when considering a smart home is, “How much is this going to cost?”

While it’s true that a smart home typically requires some investment up front, it’s important not to overlook another benefit they provide – home saving.

Take a look at some of the most beneficial ways a smart home can lead to savings:

Help you save on electricity costs

If you’re like most people, at one time or another you’ve been away from home and wondered whether you left your lights on or kept your AC running at full blast. When it happens often, however, the costs can really add up.

Heating and cooling savings

A smart home can help you save on electricity costs by reducing the amount of energy you use while you’re away from home. Homeowners can program smart thermostats to adjust the temperature of their home depending on their schedule.

For example, if you work 8 hours a day, programming your thermostat to a higher (or cooler, depending on season) temperature during the day can lower your heating and cooling costs by up to $180 per year, according to the Environmental Protection Agency.

Smart thermostats can also go a step further by learning your temperature schedules and adjusting the temperature in your home accordingly without you needing to do a thing.

Save on your electric bill

You can also reduce electric bill costs with smart home apps that allow you to adjust your lighting while you’re away. You can set up alerts to inform you when lights are left on and turn them off with your smartphone or use smart sensors connected to your home automation system to turn off lights when you leave a room.

Lower homeowner’s insurance amounts

The cost of your homeowner's insurance is directly correlated to risk. With that in mind, it’s no surprise insurance companies incentivize homeowners to reduce the risk of damage that could result in a claim, such as a burglary or disaster.

A smart security system that includes monitoring can lower home insurance cost by about 15 percent on average.

Help limit costs due to disasters

Not only do smart homes help prevent against break-ins, but they can also help limit damage caused by disasters.

In the event of a fire, smoke detectors linked with your smart home system automatically alert local fire authorities, helping to minimize damage caused to your home with faster response times.

Flood sensors are another home-saving feature of smart homes. Even a small leak can cause thousands of dollars in damage. When flood sensors are in place, they can detect leaks or changes in moisture levels and send you a notification.

Keep your mail and packages safe from thieves

If you’re like 79% of Americans, you probably shop online fairly regularly. Of that number, roughly 23 million have had packages stolen from their porches. These porch pirates, as they’re called, often follow delivery drivers and steal packages as they’re left on doors.

Smart homes can help curb these thefts with features like smart locks that lock automatically and can be controlled via a smart home app. Homeowners can provide their delivery drivers with a code so they can place packages inside their homes, making the packages inaccessible to thieves.

Doorbell cameras can also record activity outside your home and porch, helping deter thieves.

Save time with smart home automation

Benjamin Franklin wisely said, “Remember that time is money.” Smart home features like voice control can save you time (and money) by making it convenient to multitask when your hands are full or you’re busy with other tasks.

A smart home not only makes life easier, but it can also make it easier on your wallet. When considering investing in a smart home, make sure you don’t overlook the savings they provide as well.

Learn more about how you can make your home a smart home and start saving you money.