Google Nest Ware was announced in January at the Consumer Electronics Show and we finally got to see what it looks like! It’s pretty cool, but we’re all wondering the same thing: How much will this new technology cost? If you have been following Google Nest Ware news, you probably know that Google doesn’t provide much information about how much it costs, but we can make some predictions based on what we know so far.
What is it and why you need it
There’s no doubt about it. Your home thermostat is about to become a lot more complex. This year, Google announced that they will be joining forces with popular smart home device manufacturer Nest to create Google Nest Ware, a new, cutting-edge thermostat system that takes smart to a whole new level. Google Nest Ware promises to make your life easier in many ways—but how much does it cost and when can you expect to see one in your living room? Here are some answers.
Basic Differences Between Models
There are three Google Nest ware models at present. The first, and arguably most popular, is a thermostat that monitors your home temperature and adjusts accordingly. The second and third models act as alarm clocks and have functionality similar to Apple’s Siri (the same technology used in Amazon’s Echo device). In addition to functioning as a digital assistant, these devices also adjust home temperature or provide you with weather updates based on verbal commands.
Pros and Cons of Purchase Options
When looking to buy any home-automation system, it’s important to consider all your options. Google is betting its future on home automation and has invested over $500 million in Alphabet’s smart-home company, Nest. And though many industry watchers believe that Google will eventually go public with an IPO for Nest at some point, for now you can only buy a home-automation kit by visiting their website and paying for it directly. As of April 2015, there are no traditional retail outlets where you can walk in, purchase a kit and walk out with it like you might be used to doing with other home purchases.
New Technology Advances, Prices Fall, Competition Grows
The average cost of a smart thermostat has been steadily declining over time. If we predict that to continue, we can see how much a Google Nest or other similar device might cost in 2022. Here’s what we found. In 2013, if you wanted a high-end Nest Thermostat you would have paid $249 for it. Today that same unit costs $169. That’s about 27% less than it was just three years ago and almost 50% less than it was five years ago. As more competition enters into market and new technology becomes available, we should expect prices to continue falling as well. So let’s do some maths! Assuming Google continues making these devices and they keep coming down in price at their current rate, what will they be worth by 2022? At an average annual drop of 20%, Google could be selling their nest ware for around $30 dollars per unit in just eight years! That’s right—$30 dollars!
A Final Word of Advice
When it comes to your long-term financial future, nobody knows what will happen—even if they claim they do. You don’t need a crystal ball or clairvoyant to see how you’ll fare in 2027 or 2037; you just need to take calculated risks and make smart decisions today. The best way to ensure that you have a secure retirement is by saving early and often. The earlier you start saving for retirement, the more time your money has to grow. If you can afford it, try saving at least 10 percent of each paycheck—and consider setting up an automatic withdrawal from your checking account so that saving becomes second nature. And remember: While investing is important for securing a comfortable retirement, don’t forget about building an emergency fund of three to six months worth of expenses. This will help protect against unexpected costs (like car repairs) down the road and ensure that if something does go wrong financially, there are funds readily available for paying off debt or making other necessary payments until things improve again. Most importantly, though: Never stop learning about money management!