In recent years, smart devices have been more prevalent in people’s homes. In this context, this study analyzes the role of trust and privacy in technology acceptance of those devices. Derived from theoretical considerations, we form eleven hypotheses and test them by structural equation modeling (SEM). The analysis relies on data from a quantitative survey on smart thermostats with 324 participants from Germany. The results indicate a strong positive total effect of trust and a negative impact of privacy concerns on the intention to use, showing the special relationships of those factors in the context of smart home technology.