Smarthomes are recently on the rise in the home automation industry, and the industry is expected to reach $79 billion by 2020. It’s no surprise as owning home automation devices can be deemed as the ‘cool’ thing to have and it would surely impress any guest. While others consider convenience a major factor to owning home automation equipment, savings is also a major factor. Let’s take a look to see if owning Smarthome devices actually save you money.
Save Money from Burglars and Theft Protection
Did you know, that burglars are less tempted to break in when they see security cameras around the house? Makes sense when your home is well equipped and intruders know that the police can be called at any time if they’re caught breaking in. For every break-in or burglary, that’s estimated to cost anywhere from $2,000 and upwards. This can involve the costs of stolen goods, broken windows and doors, and other damaged goods. By spending as little as less than $60 for an individual security camera, this can help detect intruders in your home and check up on your home when needed.
Save Money from Stolen Packages
Shopping online is a frequent thing and if you’re like me and receiving packages on a weekly basis, you might get hundreds of thousands of dollars worth in packages. And when it’s around Christmas time and there are package thieves lurking in the neighborhood, it’s better to be safe than sorry. You can prove to companies your packages have been stolen with saved footage downloaded straight to your phone for proof.
Save Money on Electricity Bills
So do you actually save money with smart bulbs? The upfront costs is definitely more than the standard light bulb, ranging anywhere from $20 - $50 for a smart bulb. It definitely sounds like a lot of money, especially when you have many light bulbs - from ceiling lights to personal lights which can add up.
For starters, If you have older, incandescent bulb, then it might just be time for a switch since smart bulbs are LED. Using an LED light bulb can save you up to 80% less energy than a single 60W incandescent bulb costs.
However, remember that smart bulbs are technically on at all times, even when they’re not emitting light. That’s because they need to interact with the WiFi and be ready to be turned on at any given moment. On average, this is about $0.05 - $0.20 a month/per bulb, multiply that by however many bulbs you may have just by not having it on.
When it comes to saving money on your electricity bill, it’s hard to say as it’s dependent on how much is being used, how many you have, and what your currently electricity company you’re with. We do think the price is worth it though for the convenience of being able to turn it on at any time. There’s definitely a long term value to owning these devices, but may take years to break even.
Save on Insurance
Insurance companies want to prevent and mitigate loss, even though their industry is paying claims. Since home automation lessens the incidence Some insurance companies will give you anywhere up to a 20% discount if you have home automation systems or a home security system. It’s really dependent on the company but worth asking about.
Save Time with Voice Control
As they say, time is money. Our SmartHome products work with Amazon Echo and Google Assistant so you can use voice control to command your SmartHome devices. Save time while you’re worrying about your other important tasks.
With our line of SmartHome products, you can save not only time but money! And although many of these things cost more upfront, it’s worthwhile in the end and will end up saving you more money in the long run.