Of course things are never that simple, especially when you're dealing with new first-generation devices and competing ecosystems.

The smart home battle isn't shaping up as a VHS-versus-Betamax format war with one clear winner. Instead, the smart money says that a few players will dominate while others consolidate or fall by the wayside.

As with the smartphone wars, you can't assume that today's incumbents will come out on, top even if — like Nokia, Blackberry and Palm — they seem too big to fail.

So when it's too early to back a winner, how do you ensure you're spending your smart home budget wisely? Hedge your bets and think about the big picture.

Don't get too hung up on particular brands and devices, instead decide on the tasks your household wants to perform. Then work backwards to find the best tools for the job, which talk to your ecosystem/s of choice.

Lean towards smart devices which are happy to link to multiple ecosystems, preferably from vendors with a history of supporting their older devices rather than expecting you to start from scratch every few years.

Double-check that all the features you want will work in Australia with your smart speaker of choice, not just in the US. Be wary of features that are still "on the roadmap" and look for gadget makers with a history of delivering on their promises.

Having done your homework, it's still best to start by dipping your toe in the water. For example, rather than replacing every light in your house, install a few smart bulbs and use them for a while to ensure they live up to the expectations of everyone in your home.

You might decide you can make do with a handful of smart devices for now, buying more down the track as they become cheaper and the future of the smart home becomes clearer. The numbers might look more favourable if your smart home investments help curb your energy bills.

Take extra care when buying expensive appliances that you'll keep for many years. The major whitegoods makers have their own smart home apps but it's best to ensure their appliances also work with the big smart home ecosystems.

Rather than buying expensive new appliances in search of smart features, consider whether you can give your existing gear a smart overhaul using a smart dongle, power adaptor or wall controller. This includes heating and cooling, with a range of smart thermostat replacements on the market.

Don't get swept up in the rush to give your home a complete smart makeover, instead do your research and tread carefully to reduce the likelihood of making dumb, expensive decisions.