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Can a Smart Home Really Help you Save Money?

Can a Smart Home Really Help you Save Money?

Smart homes and smart technologies have become popular buzzwords over the past few years. From basic smart appliances, to fully-featured smart home solutions, many people are buying into the promise of reduced bills and an overall cool look for the house.

    Aggressive marketing techniques have seen the smart homes market grow into a multi million-dollar outfit; Statista puts the revenue figures at around US$927 million in the UK alone for 2016. In the United States, the industry is even bigger, at a massive US$48 billion in 2014, according to this infographic. Even with such crazy numbers, the industry shows no signs of slowing down, and is expected to grow to about US$3.7 billion in 2021.

    Globally, the rate of penetration for smart home technologies is expected to reach 38.7% by 2021, up from 2016’s 8.2%. Part of the reason why the industry is growing at such a high rate is the expectation by smart homeowners that they will accrue massive savings by using smart tech. So, how much should you expect to save with smart tech, if you do manage to squeeze something out of your annual expenses?

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    How Smart Tech Will Help You Cut Costs

      Smart tech often includes devices such as thermostats, refrigerators, air conditioners, and other home equipment that come with Wi-Fi capabilities. This setup allows you to control these smart devices remotely via an app on your smartphone, and even monitor usage to control consumption to possibly save costs.

      These aren’t cheap, though, with some going for hundreds or even thousands of dollars for complete smart systems. It will be years, however, before you can recoup the costs of acquiring such systems. For example, an investment of about US$5,000 will usually yield costs savings of about US$100 each year, which isn’t feasible for most people who are renting an apartment.

      With their high initial capital outlay, smart tech usually works well for landlords and homeowners who stand to gain cost benefits for the life of the tech. Many tenants will get smart devices for aesthetics and to reduce their impact on the environment, but rarely for significant cost savings. For homeowners and tenants who want to save every penny they can out of their monthly bills, it pays to plan ahead.

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      There are many ways you can save money by installing smart devices, and here are some of them.

      Smart Thermostats

      Heating and cooling take a huge chunk of monthly bills, with individuals spending up to half of the average household budget on them. Smart thermostats can adjust themselves in response to someone’s presence in the house, ensuring they are set to low or turned off when no one is around. Programmable thermostats can help you save up to 25% of the heating and cooling bill.

      Smart Lighting

      Lighting is only second to excessive heating when it comes denting the monthly bill. A smart lighting system can dim, turn off, or change the color of your bulbs for maximum energy savings. LED bulbs often cost more than regular bulbs, but can help you knock off at least US$35 per bulb annually.

      The water bill is another little-known area where individuals can save cash. This water utilization infographic by bathroom accessories company Big Bathroom Shop shows just how important water is for everyday life. Smart sprinklers automatically adjust the amount of water they let through according to the weather report, which can shave off up to 50% of the water bill.

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      Smart Power Outlets

      Standby power use is a significant contributor to energy wastage and unnecessary expenses, contributing to about 16% of the electricity bill. Smart power outlets enable you to monitor and restrict energy drain via the sockets, which can save you up to 16% of the electricity bill.

      There are hordes of other energy-saving devices that you can use for your home. Each will give you varying levels of energy and cost savings, so plan wisely before diving in.

      If you are a tenant, sometimes the right energy savings can be achieved by moving into a house that already has the proper energy-saving equipment and gadgets already installed. After all, moving into a smart home is much easier than assembling one.

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      Image Credit:

      Application money Via Pixabay, Man making a roof gesture on piggy bank Via Freepik

      Featured photo credit: hswstatic via s.hswstatic.com

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      Last Updated on July 18, 2019

      10 Small Changes To Make Your House Feel Like A Home

      10 Small Changes To Make Your House Feel Like A Home

      Your house is more than just a building that you live in. It should be a home that makes you feel welcome as soon as you open the front door.

      Making your house feel like a home is not something that simply happens on its own. You need to make some changes to a house when you move in, to give it that cozy, warm feeling that turns it into a true home. To help you speed the process, follow this guide to 10 small changes to make your house feel like a home.

      1. Make the Windows Your Own

      When you move into a home, they often come with boring Venetian blinds or less than attractive curtains.

      One of the best ways you can instantly warm your home and make it showcase your style is to add some new window dressing. Adding beautiful curtains not only improves your home’s appearance, but it can also help to control the temperature.

      2. Put up Some Art

      If you have a lot of bare walls in your home, it will seem sterile no matter how beautiful your paint or wallpaper is.

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      Hanging art on the walls will instantly give it personality and make it feel like home.

      3. Improve the Aroma

      A house that is not filled with inviting smells will never feel like a home. There are loads of ways you can make your home smell nice. There are tons of air fresheners on the market you can use.

      Incense and scented candles are a nice option as well. Don’t forget that baking in a home is also a great way to fill it with an aroma that instantly smells like home as soon as you open the front door.

      4. Put out Lots of Pillows and Throws

      A great way to make your home look warm and inviting is to place lots of pillows and throws out on the furniture. It is much better to have too many pillows than not enough.

      There is nothing like the feeling of sinking into a cushiony pillow that feels like a cloud to make you feel like you are at home.

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      5. Instantly Class up Your Closet

      If your closet is filled with wire or plastic hangers, it will never truly feel homey. To instantly make your closet feel classy, change out your old hangers for wooden ones.

      Not only do they look great, but they are better for hanging your clothes as well.

      6. Improve Your Air Quality

      One of the most overlooked ways to make your house feel more like a home is to improve its air quality.

      The easiest and best way to upgrade the air quality in your home is to change the old, dirty filters in your furnace regularly. Get some air filters delivered to your home so that you always have some on hand.

      7. Fill it with Plants

      Another way to improve the air quality in your home is to fill it with plants. You should have plants in every room of your home.

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      They help to improve the air quality and they look beautiful. As well as making your home appear homier, plants also help to boost your mood and lower your stress levels.

      8. Change the Doorknobs

      Most people don’t really give their doorknobs a second thought unless they are broken. That is a shame because changing your doorknobs is an easy way to add personality to your home.

      Changing your old, boring doorknobs to new ones that are works of art will instantly brighten your home.

      9. Upgrade Your Tub or Shower

      There is nothing like luxuriating in a whirlpool bath or steam shower to make the cares of the day melt away. Your family deserves a bit of luxury when they are in their bathroom.

      Install a new shower or tub today to make your bathroom worthy of a place in your home.

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      10. Fresh Cut Flowers

      You can make any room in your house feel homier by placing a vase full of beautiful flowers in it. The gorgeous look and intoxicating aroma of fresh cut flowers will immediately brighten your day when you encounter them.

      You don’t have to make all these changes at once. Try one or two a day though, and your house will feel like a home before you know it. The trick is to constantly keep adding these homey touches to make your home a place worthy of its name.

      Featured photo credit: https://www.pexels.com/photo/black-wooden-round-analog-wall-clock-on-brown-wooden-wall-121537/ via unsplash.com

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