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What Is The True Value of a Smart Home: Beyond Convenience and Control

By Ben Shepardson | May 31, 2023

The concept of smart homes has made tremendous strides since its inception, evolving from a futuristic concept into a mainstream reality for many households worldwide. The phrase "smart home" refers to a residence equipped with devices and systems that automate tasks normally handled by humans. These devices are controlled via internet-enabled devices like smartphones, smart speakers, or even AI-based virtual assistants. While the benefits of smart homes may seem obvious, such as enhanced convenience, security, and energy efficiency, there is more to the story. This article delves into the true value of a smart home, exploring both its explicit and implicit benefits.

Increased Convenience and Accessibility

Perhaps the most well-known advantage of smart homes is the convenience they offer. At the tap of a button or a simple voice command, homeowners can manipulate the lighting, temperature, security, and entertainment systems of their houses. This automation allows homeowners to control various aspects of their homes from any location with internet access, providing unprecedented control and convenience.

Furthermore, the Internet of Things (IoT), the network of interconnected devices, has revolutionized accessibility. Individuals with mobility issues or disabilities can greatly benefit from smart homes, as they can control appliances and systems that would have otherwise been difficult to operate.

Energy Efficiency and Cost Savings

Smart homes are designed to be energy efficient, which results in significant cost savings in the long run. Intelligent thermostats learn your daily routine and adjust temperatures accordingly to save energy, while smart lights turn off when no one is in the room. This energy-conscious approach not only reduces greenhouse gas emissions but also brings about considerable reductions in monthly utility bills.

Additionally, homeowners can monitor energy consumption patterns through various smart home apps, enabling them to identify and eliminate energy wastage. This knowledge can promote more responsible and sustainable energy use behaviors, making smart homes a valuable tool in the fight against climate change.

Enhanced Security and Peace of Mind

Security is a crucial element in our lives, and smart homes offer advanced systems that enhance homeowners' peace of mind. From smart door locks that allow keyless entry and remote access to advanced surveillance systems providing real-time video feed, smart homes ensure the safety of both people and property.

Moreover, the introduction of AI-driven analytics in security cameras enables facial recognition and anomaly detection, sending alerts whenever unusual activity is detected. This higher level of security not only provides a sense of safety but also potentially reduces home insurance premiums.

Remote Health Monitoring and Care

The true value of smart homes extends into the realm of health and wellness. By integrating medical technology into smart homes, we can monitor vital signs, ensure medication adherence, and detect falls or accidents. For the elderly or chronically ill, this could mean the difference between independent living and an assisted living facility.

Smart homes equipped with AI-based technologies can also assist in maintaining mental health. They can recommend personalized fitness routines, dietary advice, and monitor sleep patterns, thus promoting a healthier lifestyle. This combination of physical and mental health support underscores the transformative potential of smart homes.

Creating a Personalized Living Experience

Smart homes are not just about automation and control; they also focus on personalizing the living experience. Using data gathered from various devices, smart homes can understand user habits and preferences to create tailored environments. This can range from adjusting lighting and temperature for optimal comfort to curating personalized entertainment playlists.

The emergence of AI and machine learning in smart homes further enhances this personalization, transforming homes from merely livable spaces into intelligent entities that adapt to meet the inhabitants' needs and preferences.

Community and Grid Integration

As we move towards a more interconnected world, smart homes will play a vital role in integrating with the larger energy grid and community infrastructure. By balancing power demand and supply, smart homes can ensure grid stability and even return excess power to the grid during peak production times, thus contributing to a more sustainable and efficient energy future.

Also, in times of community emergencies or natural disasters, smart homes can share crucial information with local authorities, providing real-time data that can help manage the situation more effectively.

What is the average cost of a smart home?

Determining the average cost of a smart home can be quite challenging due to the wide range of smart home products and the variation in pricing. As of my knowledge cutoff in September 2021, here are some broad estimates:

A basic smart home setup that includes devices like a smart speaker (like Amazon Echo or Google Home), a couple of smart bulbs, a smart thermostat, and a smart plug could cost anywhere from $200 to $500.

A more comprehensive setup might include all of the above plus a smart security system (cameras, door/window sensors), smart locks, smart doorbells, more extensive smart lighting, and perhaps smart appliances. This could easily cost a few thousand dollars. High-end smart appliances like refrigerators and washing machines could each cost $1000 or more.

For a fully integrated smart home, where nearly everything from blinds to sprinkler systems is automated and controllable, costs can easily go into tens of thousands of dollars. These systems often also include professional installation and sometimes a subscription service for continued support and functionality.

Also, remember that these costs are often not a one-time thing. Depending on the devices, there may be ongoing costs for subscriptions (for example, for security camera cloud storage or premium smart speaker services). Plus, as technology evolves, you might want to upgrade devices or add new ones to your system.

The actual cost of a smart home setup will depend on your individual needs and preferences, and it's always a good idea to do some research and shop around to find the best products for your budget.


From increased convenience and accessibility to enhanced security, the explicit benefits of smart homes are plentiful. However, when considering the true value of smart homes, it's essential to understand their implicit benefits such as their contribution to sustainable living, their potential for enhancing healthcare, and their capacity for delivering personalized experiences. As technology continues to advance, it’s clear that the value of smart homes extends far beyond mere convenience. It reaches into the realms of environmental stewardship, community engagement, healthcare revolution, and personalized living, making smart homes a cornerstone in building an interconnected, intelligent, and humane society.

Ben Shepardson is a Realty Biz News Contributing Writer and has a long track record of success in online marketing and web development. While pursuing a bachelor’s degree in Computer Information Systems, he worked doing enterprise-level SEO and started an online business offering web development services to small business customers.
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