Cost of Home Security System

Every homeowner, at one point or another, wonders what the current cost of home security system is. Why is it important? A solid home security system can provide you peace of mind when it comes to protecting your family and possessions. However, if you’re considering getting one soon, you need every information you can get on home security system costs.

Home Security System Cost

How much does a home security system cost depends on several factors.

The Equipment

The products range from base pads to security cameras to motion detectors. The price of new equipment might be high, ranging from $100 to more than $1,000. Security equipment is the second-highest cost and initial outlay of a home alarm system. In contrast to monitoring, equipment costs rise as homes get bigger (at least if you want the same level of coverage). Fortunately, some suppliers provide you the opportunity to lease your equipment rather than buying it outright or even offer frequent discounts. Additionally, some security cameras demand a separate subscription to store video footage online.

Keep in mind that no two home security systems are alike when it comes to hardware. Others provide sophisticated packages, including cameras and smart doorbells, while some only give the basics. Others offer à la carte options that let you choose what you require to keep your home secure.

Most suppliers will provide a selection of packages with predetermined equipment. If you wish to buy other devices to complete your bundle, some providers may even give you a discount on them. Make sure the system can accommodate more devices, and you won’t need to buy additional storage or camera footage before making other equipment purchases.

With the acquisition of a contract, the cost of home security systems can range from $0 to more than $600 for an advanced protection package.

Charges

Home security system monthly cost price is associated with all home security systems’ monitoring services. The average monthly cost of a home security system is between $10 to $50. Pricing changes according to the number of cameras under surveillance or the sophistication of the services. The more features you get, the higher your monthly charges will be. With Ring Alarm, which owns the well-known video doorbell and offers professional monitoring, cellular backup, and smart home connections, plans can start for as little as $20 per month. Some fees for professional monitoring services with more outstanding features and protections can be more than triple that amount.

The sensors and alerts on your device can be your only sources of monitoring if you choose. Another choice is self-monitoring with camera recording, which is considerably less expensive but still includes an extra layer of security.

Home Security System Installation Cost

Installing a home security system is expensive. Many home security systems charge a one-time activation and installation fee if you decide to have one installed on your property. Because specific security systems don’t demand this kind of payment, check with the manufacturer. Others maintain it modestly and compensate for it by charging a marginally higher monthly cost. Depending on your chosen system, the installation expenses for your home security system might range from $0 to $199.

Making the selection of which company to choose is an even bigger one. Of course, there must be consideration of the cost of the security system, but it is important to take into account installation costs as well as monthly subscription fees. Any decision you make at this point will be one you’ll be paying for, for many years. To make an informed decision, try to weigh what features each provider has to offer.[1]

Should I Choose A Wired System Or A Wireless Home Security System?

Whether you choose a wired or wireless security system will significantly impact the price and convenience of installation. You can do it yourself, depending on where you wish to install the wireless camera. On the other hand, since installing a wired camera security system requires drilling holes and running cables throughout your house, you might want to hire a professional to do it for you. Installing a wired system instead of a wireless one will cost twice as much.

The benefits of wired systems include higher stability in locations with weak cellular signals and the absence of hackers, which are typical concerns with wireless systems. A wired home security system typically costs between $800 and $1,600.

The most advanced option for home security is wireless, with everything managed by a smart device. These systems include sophisticated capabilities that frequently allow remote administration of home security functions like lighting control, temperature regulation, and door locking and unlocking.

Another significant benefit of a wireless home security system is that you can’t disconnect it from the phone line, unlike a wired system. On average, a wireless home security system typically costs between $200 and $2,000.

Taxes, License Fees and Alarm Permits

You should prepare to pay local and state taxes (sales or service) for your equipment and monitoring. You will have to find out how much tax you will be paying, which varies depending on where you live. Due to the complexities of exclusive use, home security systems are typically not tax deductible.

Alarm permits differ from place to place, just like taxes do. For instance, people in New York City do not require a permit, whereas Phoenix residents must pay $17 annually. The purpose of permits is to reduce the number of false alarms that waste city resources.[2]

Whether you have a permit or not, you risk getting fined if your security system sets off too many false alarms. Depending on the city and the number of false alarms in a year, the standard punishment ranges from $50 to $500.

How Should a Home Security System Be Selected?

When selecting a home security system, consider the size and layout of your building. Your needs will determine which home security system is ideal for you. Depending on the amount of protection required, you have various options to consider, including wired or wireless security systems and self-monitored and professionally-monitored security systems.

When looking for the appropriate system, don’t forget to look at sensors, control panels, door and window sensors, floodlights, and doorbells. These components working together will keep a home as secure as feasible. You must first decide how much protection you want before selecting a solution.

How Valuable Are Home Security Systems?

Investing in a home security system may be worthwhile to protect your safety, your family, and your valuables. According to 2019 FBI data, residential burglaries account for more than half of all burglary offenses. As a result, safeguarding your property can help you and your family, pets, and possessions better prepared for the worst, whether at home or away. Research by Professor Joe Kuhns of the UNC Charlotte Department of Criminal Justice and Criminology, which discovered that over 60% of thieves plotted their break-in less than 24 hours before trying it, provides additional proof of the efficiency of security systems. When asked if they would give up if they noticed an alarm system, more than half of those surveyed answered they would.

You might need to invest in a simple kit that includes the necessary number of smoke alarms for your home, together with a few doors, windows, or motion sensors for the main points of access. However, you could want to outfit every part of your home with extra motion sensors, glass break sensors, and interior and outdoor cameras for more thorough security.

An extra benefit is that home automation features, and home security systems can help you save money over time. When you add an extra layer of safety to your house and belongings, home security systems with expert monitoring can cut your homeowners’ insurance premiums.[3] The government-sponsored organization for energy conservation, Energy Star, advocates integrating smart home equipment, like a smart thermostat, to offer data that lets you analyze your usage and spending and automatically adjust to energy-saving preferences when you’re asleep or away. In addition to providing extra security, home security systems can lower your average monthly expenditure.

Conclusion

The question of the average cost of home security system, like any monitoring system, can only have an answer after taking several factors into consideration. Factors like the size and layout of the building, the equipment, monthly charges, installation costs, and even taxes can affect the cost of a home security system. Ultimately, what you get depends entirely on your needs, budget, and personal preferences.

Reference

[1] Home Security System Options. “Best Home Security Systems 2022” RetirementLiving, 2022

[2] Alarm Permit. “PHOENIX, AZ ALARM PERMIT.” AlarmPermit, 2022

[3] Home Insurance Discount. “Solved! Is There a Home Insurance Discount for Security System Installation?” Acton Media, 2022