Remember the beloved cartoon, “The Jetsons?” Robot maids, jet packs, moving sidewalks, and flying cars? In the 1960s, when the cartoon was first released, there seemed to be only frivolous imaginary creations. Fast-forward to 2019 and many of the technology predictions from, “The Jetsons” have actually come true! Talking alarm clocks, flat screen TVs, smartwatches and video chats to name a few!

These tech gadgets don’t stop there, they’ve recently made their way into real estate via “Smart Home Technology.”

What is Smart Home Technology?

  • Technology with sensors or devices that can be remotely monitored, controlled and accessed via smartphones, tablets, or apps

What are the most popular applications of Smart Home Technology?

  • Wireless Speakers
  • Thermostats
  • Home Security Systems
  • Cleaning Devices (robot vacuums)
  • Smoke Detectors
  • Lighting
  • Door Locks
  • Refrigerators
  • Water Monitors
  • Laundry Machines

What limitations exist?

  • Adaptation can be costly and time-consuming. Buying the adaptors, setting up the networks, learning the controls and having the proper maintenance/updates can be troublesome and expensive.
  • The networks these gadgets rely upon can be prone to security breaches! Be wary of your personal data and monitor your credit and personal information regularly. (Gateway has a very inexpensive Identity Protection product for just $10/month!)

What consumers want and use:

A 2012 consumer report that pulled data from the National Association of Home Builders looked for what Smart home devices homeowners wanted most and found that top five were wireless security systems (50%), programmable thermostats (47%), security cameras (40%), lighting control systems and wireless home audio systems (39%), and home theater and multi-zone HVAC systems (37%).1

A 2015 study from “The Harris Poll” shows:

While the information provided in the studies published above from 2012 and 2015, the desires of Home Owners have not seemed to vary since then. A few of Amazon’s most purchased products include their “Amazon Echo Dot” a smart home speaker/wireless voice control, “Amazon Fire Stick” smart home streaming device, “Amazon Fire Tablet” that can control the smart home apps/functions, the “iRobot” vacuum, “WeMo mini smart plugs” that turn regular outlets into Smart Home hubs, “YI Dome Camera” for security footage, and more!3

What do you use in your house? We’d love to hear from you!

References:

1- “What Homeowners Want”. Home Tech Integration. Retrieved 1 April 2018.
Chart- McCarthy, Niall. “How Prevalent Is Smart Technology In U.S. Homes?”. Forbes. Retrieved 1 April 2018.
3- https://www.bestproducts.com/lifestyle/g3486/best-selling-products-on-amazon/?slide=1
Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a brokerdealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Gateway Financial Advisors, Inc., and Cambridge Investment Research, Inc. are not affiliated.