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Smarter Homes: 5 Must-Haves

October 21, 2015

Managing Your Money


Consumer excitement about the smart home has reached epic heights, with hundreds of new devices on the market that monitor, notify, control and secure the home. According to Parks Associates, mobile ubiquity, technology innovation and industry standards and partnerships have contributed to more than 13 million U.S. households now owning a connected device. This number is set to increase three-fold over the next three years to an estimated 45 million smart homes by 2018.

With connected products available to even the least tech-savvy consumers for as little as $50, there’s no better time than now to create a smarter home. Here’s how:

  1. Automate your light switches.
    One of the easiest and most affordable places to start automating your home is with the lights. You can appear to be home when you’re not by setting schedules that turn lights on and off at select or random times. These products are sold at most home improvement and electronics stores.

  2. Control the garage door.
    According to the Door & Access Systems Manufacturers Association, an estimated 71% of U.S. households use the garage as the main entry to their homes. Automating the garage door allows homeowners to control the most active door of the house from anywhere. Smartphone alerts let you know when the garage is in use or left open, and give you access to opening it any time for guests or workers.

  3. Install smart locks.
    With connected door locks, a mere touch of your finger locks or unlocks the front door, providing alerts every step of the way. You can also allow access to others through their smartphones and turn off access at any time.

  4. View your home with video.
    A connected home video camera can help by streaming live video to your smartphone once movement is detected in or around the home, and video is accessible with a cloud storage option.

  5. Save money and energy through temperature control.
    Installing a connected thermostat can save you up to 20% on your heating bill throughout the year. Smart thermostats allow you to adjust the temperature based on your comings and goings from anywhere — turn up the heat in your house just before returning from a trip, or switch your setting to vacation mode if you forgot to do so before leaving.

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This blog article is for informational purposes only, and is not an advertisement for a product or service. The accuracy and completeness is not guaranteed and does not constitute legal or tax advice. Please consult with your own tax, legal, and financial advisors.