Manual thermostats are usually less expensive than high-end, internet-connected devices that are programmable. Prepare to spend anywhere from $15 to $300 for a thermostat. The rates for hiring professional installation vary.

You will most likely need to employ an electrician, with an average rate of $65 to $100 an hour for rendering services. If you feel confident enough to handle installing a thermostat without professional help, you can save money.

A home's square footage also impacts the cost of a thermostat installation. The average price range for a thermostat and installation altogether is between $112 and $254. Poor installation is risky and dangerous, so hire help if needed.

If you are on a strict budget, opt for a manual or non-programmable thermostat versus a fancy smart thermostat with all the bells and whistles. A programmable electric thermostat is a middle-of-the-road choice that most will accept.