Is Now the Time to Invest in Smart Home Technology?
It’s common wisdom throughout the tech world that you should be skeptical about buying the first generation of a tech product for good reason. Almost without fail, tech products improve vastly in their second and third iterations. Just think of smartphones, tablets, or just about any piece of tech. But what about smart home technology?
Sure, when it comes to some products, you may still be an early adopter, but can we say the entire idea of the smart home has moved beyond the “beta” stage? In other words: is now the time to seriously consider investing in smart home technology or should you wait a few more years? Let’s look at some reasons this might be just the right moment.
Smart Home Tech Is Impacting the Real Estate Market
Obviously, real estate is always something of a consideration when making additions to your home. At the moment, the real estate market is just beginning to respond to the increasingly common addition of smart home tech in many homes. Since many homebuyers are still unfamiliar with these systems, there’s a bit of a lag between their adoption and the impact on resale value and speed.
However, some trends are already beginning to show. Smart home investments may not be impacting home values quite yet, but realtors from places as varied as San Francisco and Boise, Idaho, are noticing that there’s a real impact in how quickly a home can sell.
This is because features like a smart thermostat or water leak detection system can add a real wow factor. That’s not just for millennials – older Americans are investing in smart thermostats even faster than their children and grandchildren are.
And for those who aren’t considering selling their home any time soon – which factors should they be looking at?
How Smart Home Tech is Maturing
The big maturation trend in the smart home world is greater consolidation and connectivity. While the industry may have started off more of a collection of various single products, it’s spent years merging into a series of competing ecosystems: Apple Homekit, Amazon Echo, Google Home, Wink and Nest, in particular.
Today, with big companies leading these ecosystems and investing heavily in them, alongside the numerous smaller companies and startups developing products to integrate into them, the industry is looking healthy and well positioned for more innovation. While there’s been a rush of criticism for Nest’s decision to pull support from some products, leading to them no longer working, a smaller pool of more dedicated players means that’s less likely to happen in the future.
Still, while the prospect of greater stability within the smarthome tech world is reassuring, and a good reason to considering beginning the process of making your home smart, there are other important considerations. You need to invest the time in researching the best devices for your needs.
It’s a Great Time, If You’re Ready to Research
We’ve come to the enormous “if” of whether or not it’s time to buy into smart home tech. Today, there are products that really shine and others which fall flat. Alongside that, your choice of a product ecosystem will depend on whether you base your digital life in Amazon, Google or Apple products, or whether you’d like the flexibility of Nest to keep your options open.
If you’re looking for a quick purchase or two without the need for research or worries about compatibility, now may not the best time to buy your smart home tech. Similarly, if you want to boost your home’s value, these products just aren’t ubiquitous enough to do that just yet. But with a reasonable amount of research (we particularly like CNET’s reviews) into making the right purchases for your needs, this is a great time to take the plunge.
Start by asking yourself what type of products you use (smartphone, laptop or desktop operating system). Then consider what your needs are: Would a smart sprinkler system save you a lot of time and effort or would you like to increase your home’s energy efficiency with a smart home thermostat? Is it more important to reduce your risk of home burglary or home water damage? Ask these questions and you should end up with a great system for your needs.
What considerations did you have when considering whether or not to begin investing in smart home technology? Which smart home tech did you start with for your home?