A smart home is one that is set up with devices and tech gadgets to automate household tasks, such as turning on/off lights and adjusting the thermostat. This technology can be controlled by voice or by a swipe of a phone or tablet so homeowners can control the automation whether they are in another room or another city.
Some of the smartest of the smart devices use artificial intelligence, where you can "train" them to behave in certain ways at certain times. For example, a smart device with a wake-up alarm that is linked to your digital calendar may adjust itself accordingly so you don't oversleep and miss an early meeting.
Wireless smart devices like Google Home (NASDAQ: GOOGL), Amazon Echo (NASDAQ: AMZN), and Nest devices are relatively inexpensive ways to boost your home's IQ, as it were. Wired systems tend to be expensive, and with technology evolving at such a rapid pace, you could be pouring money into something that will soon be outdated.
According to Consumer Reports, smart technology can boost a home's value by 3 to 5 percent. So when it's time to upgrade appliances and items like refrigerators and doorbells, smart options are worth looking into.