Person controlling smart devices in their home on their couch

Home Security

How Much Does It Cost to Make Your Home a Smart Home?

By Ring on August 23, 2024

Converting your house into a smart home can help save you time, simplify your routines, and even save you money on energy bills. But how much does it cost to equip your home with smart technology?

Learn the total estimated price of a smart home, how much different smart devices cost, and all the factors that can impact your final budget.

How Much Does a Smart Home Cost?

If you’re considering investing in smart technology for your home, you can expect to spend around $700 on the low end to $50,000 and above for a smart home that is fully equipped.

You don’t have to buy all your smart technology at once. If you choose to start with just a few smart bulbs or a smart thermostat, you can kick off your smart home journey for $100 or less. It’s easy to continue adding more devices over time, and you can spread costs over the long term.

Breaking Down Smart Home System Costs

Here are some of the essential devices that make up a smart home and what you can expect to pay:

Smart Home Hub

Estimated cost range: $40–$300

Your smart home hub can act as a speaker, voice assistant, and the connecting thread between all your other devices. Many basic hubs are less than $50, but you can pay more for extra features like a smart display or high-quality audio. You may also want several hubs for different rooms if you use them as a voice assistant and speaker.

Smart Lights

Estimated cost range: $600–$5,000+

Replacing every bulb in the average home with a Ring A19 Smart LED Bulb would cost around $600.¹ For the fixtures that don’t use bulbs, like downlighting or under-cabinet LEDs, you can add smart switches, which cost around $50 for models that control several lights on one circuit.

Smart switches don’t require smart bulbs, and vice versa, so you can choose to use one type of smart lighting or a combination of the two in your home. For example, replacing the bulbs in five lamps and adding 10 smart switches around your house would cost around $575. Or, you can start small and expand your smart lighting over time, lowering your initial investment to $15 for one smart bulb.

You can also add smart landscape lighting to your home’s exterior, which could cost anywhere from a few hundred dollars to over a thousand. Your actual costs will depend on the size of your outdoor space and the amount of lighting you want.

Smart Security System

Estimated cost range: $200–$1,000+

If you live in a small space, adding a layer of protection around your home can cost as little as $200. If you opt for a larger kit with more advanced features, such as a built-in wifi router, you could spend close to $400. No matter the size of your security system starter kit, you can add optional accessories, which will raise your overall costs.

Here are some of the add-ons you can connect to a Ring security system:

Smoke and Carbon Monoxide Alarms or Listeners: ~$30–$50 each

Flood and Freeze Sensors: ~$35 each

Glass Break Sensors: ~$40 each

Outdoor Contact Sensors: ~$50 each

Panic Buttons: ~$25 each

For a large home that requires extra sensors and a substantial amount of accessories, you may spend over $1,000.

Smart Locks

Estimated cost range: $200–$1,000

Adding smart capabilities to your front door, including remote control, guest codes, and keyless entry, can cost as little as $200. For higher-end hardware and extra features such as a fingerprint reader, you can spend over $300.

Your overall smart lock costs will depend on how many exterior doors are in your home. Adding a high-end smart lock to three exterior doors could cost close to $1,000.

Smart Thermostat

Estimated cost range: $80–$400+

Your choice of smart thermostat will impact how much you spend. Basic models can cost under $100, but if you want smarter automations and extra sensors for room-based heating or cooling, you may pay $200 or more.

If your home has an HVAC system for each level, you’ll want a smart thermostat on every floor

Smart Security Cameras

Estimated cost range: $160–$2,500+

Smart security cameras can help you gain visibility in and around your house. Some models even have crystal-clear audio, HD video, and 3D motion detection, so you can get a more complete view.

For most homes, we recommend a minimum of two cameras outside and one inside, but those numbers can vary significantly depending on the size of your home. Three cameras without extra features can cost as little as $160, while more pro-level options may cost upwards of $800. If you want enough coverage for a large home and yard, you may spend over $2,500 on pro models.

Smart Appliances

Estimated cost range: $3,700 to $23,000+

While you don’t need smart appliances to have a smart home, these gadgets can help make your life easier while you cook or do chores. Here’s an estimate of how much you may spend on different smart appliances:

Washing machine = ~$600–$1,500

Dryer = ~$500–$1,200

Refrigerator = ~$1000–$4,000

Range = ~$900–$10,000+

Dishwasher = ~$500–$1,500

Microwave = ~$130–$2,000

TV = ~$90–$3,500+

Factors That Affect Smart Home Cost

These additional factors may increase the amount you spend to make your home a smart home:

Professional vs. DIY Installation

While many smart devices are easy for a DIY-er to install, you may prefer to hire a professional for your smart thermostat, smart switches, or smart security system. Depending on which devices you choose to get professionally installed, you may pay around $100 for one device to over $1,000 for a full range of smart technology.

Home Size

The smaller your home, the less you’ll spend to make it smart. Homes with a large footprint will require more smart lights, sensors, cameras, and locks, increasing overall costs.

Subscription Fees

Some smart devices may have optional subscriptions that unlock certain features, such as professional monitoring for your security system or video storage for your security cameras. If you choose to enroll, you’ll have extra monthly or yearly costs beyond your upfront expenses..

Final Takeaways

The cost of making your home smart will depend on the size of your home, the devices you choose, and whether or not you choose professional installation.

In general, you can expect to spend at least $700 for a fully equipped smart home. If you hire a smart home consultant and invest in the top smart home technology, you can easily spend upwards of five figures.

No matter the size of your home, you can always start small with a few smart devices. At Ring, we have beginner’s bundles that make it easy to get started. Explore your options to find the right fit for your newly minted smart home.

¹ Estimate based on 40 light bulbs. Source:
https://www.washingtonpost.com/lifestyle/home/why-you-should-switch-to-led-lightbulbs-right-now-before-the-law-requires-it/2018/01/16/c2d915f4-f0a2-11e7-b3bf-ab90a706e175_story.html#