How Expensive Is It to Make Your Home Smart?

See how much cash it takes to start building a smart home.

Smart homes have become quite popular, with big brands like Google and Amazon releasing their own smart devices to provide customers with added convenience. But tech is often pricey, and fitting your whole home with smart devices can rack up a huge bill. So, how expensive is it to create a smart home, and in what ways can you save a buck?

Voice assistance is now a feature in hundreds of different devices, including smartphones, laptops, and speakers. In a smart home, a voice assistant often comes in the form of a small speaker, such as the Amazon Echo or Google Nest.

Voice assistants like this not only handle the audio media you're playing through them. You can create reminders, check the weather, run an internet search, and control other smart devices in your home, all with your voice commands.

This is clearly a convenient piece of equipment, but will it drain your wallet?

The answer to this question varies based on the specific voice assistant you want. The Amazon Echo Dot, for example, starts at around $50, but prices vary depending on the retailer you buy from and the add-ons you choose as part of the purchase (such as a smart light bulb set). More expensive versions of the Echo, such as the Studio, cost upwards of $200.

One of Amazon's key competitors in smart speaker production, Google, also has a range of different models available. The cheapest model, the Google Nest Mini, starts at a lower price point than the Echo—around $25. Prices then move upward, with other popular models, like the standard-sized Nest speaker, coming in at around $60.

Note that you can get cheaper smart speakers from lesser-known brands, or grab an Amazon or Google speaker from a second-hand seller at a reduced price point.

Smart light bulbs allow you to set timers, alter colors or brightness, and voice-control the lighting within the various rooms of your home. You can use smart lighting to reduce your lower your energy bill, simplify your daily life, or make your home more eco-friendly.

Thankfully, there are many affordable smart light bulbs on the market today, so switching from dumb light bulbs doesn't have to cost an arm and a leg. On Amazon, for example, you can find plenty of different brands offering smart bulb sets for as little as $20. Of course, it's important to read specifications and reviews to make sure you're getting a good product, but you don't have to fork out huge sums to fit your home with smart lighting.

If, however, you want to go for a popular brand, the price of smart bulbs increases. Philips, for instance, charges over $80 for two of its smart light bulbs. Note that this doesn't even include the Hue Bridge Hub. This costs around $40 on its own. But Philips Hue is a great smart lighting kit with a lot of useful features. So, if you've got the money spare to up your budget, why not?

Devices like smart locks and smart alarms can do wonders for your home security system. Being able to surveil your home when away, remotely control your locks and doors, and receive live notifications of alarm breaches means you're always in the know, and therefore always able to act fast if an issue occurs.

But will a smart home security system bleed you dry? How pricey can they get?

You may have heard of various smart security systems already, such as Ring. Ring is a hugely popular smart security brand that offers smart doorbells, cameras, alarms, and motion sensors. The entire Ring security system costs hundreds of dollars to buy, but you can start small with a Ring doorbell. Ring's doorbells cost as little as $70, and allow you to remotely view and interact with who is at your front door at any time.

You can also get yourself a smart lock, which requires a code or authentication from your phone to unlock. Smart locks tend to cost between $50 and $200, depending on what brand and model you're buying.

Nowadays, many of us want a wide screen and crisp audio, but this often comes with a steep price tag. Smart TVs and smart speakers can be costly, with some people investing thousands of dollars into this luxury.

But having a smart entertainment system does not need to break the bank. Smart TVs are now very affordable, with brands like LG, JVC, and Toshiba offering good quality products for lower price points.

For example, you can grab a 32-inch LG smart TV for $200 or $300. Of course, the price will increase with the screen size and capabilities. If you want a home cinema rather than a simple entertainment system, you'll likely be investing in a larger smart television. A typical 60-inch smart TV tends to cost upwards of $800, with many models exceeding the thousand-dollar mark.

Larger smart speakers, such as those offered by Bose and Sonos, can also cost a pretty penny. A Sonos Soundbar can cost anywhere between $200 and $800, and is a common option for home entertainment systems. You can opt for a smaller speaker, but this will result in an uneven distribution of sound from one side of the room.

But there are more affordable smart soundbars out there, such as JBL and LG's slightly older soundbar models. You can also opt for lesser-known brands, but make sure you vet their reputation and product quality beforehand.

Heating and cooling your home can be expensive and frustrating, but smart technology can be of use here. Smart thermostats let you monitor and adjust your home temperature remotely, set daily timers, check out your usage history, and even check the weather. You can also use various modes on some thermostats, such as eco-friendly and energy-efficient modes to reduce electricity usage.

But will this added convenience cost a lot?

All smart thermostats have different designs, capabilities, and additional features, which can affect pricing. The Google Nest thermostat, for example, varies in price depending on the generation you're looking for. The third-generation Nest costs around $200, while the second-generation can cost half of that. But with older versions can come outdated software and limited features, so keep this in mind.

But the Nest isn't your only option. There are many smart thermostat brands out there, including Ecobee and tado. You can also look for second-hand or refurbished Nest thermostats if you want to stick to a tighter budget.

With all the various devices you need to build a smart home, it's likely that you'll rack up a substantial bill. But you don't have to spend thousands of dollars on your smart home. Opting for cheaper brands, second-hand products, and keeping an eye out for sales can all help you save money while still taking your domestic life to the next level.

Katie has been writing about tech-based topics for two years, with a specific interest in cybersecurity, AI, and cryptocurrency. Katie has covered a variety of topics during her time at MUO, including crypto explainers, cybersecurity guides, VPN reviews, recent hacks, and software tutorials. With a passion for emerging tech, Katie is also excited to see what new devices and digital platforms the coming years will bring.