Comprehensive Guide to Home Security System Costs

Are you worried about home security costs? While property crime has consistently declined from 2011 through 2020 by more than 30%, according to the FBI, investing in protection for your home is still wise.

A sound home security system helps keep your loved ones and belongings safe and deters burglars even when you're away. With a security system, you can automate adjusting the thermostat or turning off lights, saving you time and money. Plus, some insurers offer discounts for homes with security systems, helping you save even more. So, why wait? Read on as we discuss home security cost and more in this article today.

1. Immediate Cost Breakdown

Here is an approximate home security cost.

• Installation

Installing averages around $600, although costs may vary. Basic DIY packages starts as low as $200, while professional ones may run $1,200 or more.

• Monthly monitoring costs

The maximum portion of home security cost is 24/7 professional monitoring.

Monthly monitoring costs range from $20 to $60. Higher-priced plans offer more perks, better warranties, and top-notch equipment.

• Costs for different types of systems

Wired Home Security Systems:

These systems typically cost $800 to $1,600 for installation. It involves intricate work like cutting into walls. While harder to tamper with, damage to wires can disrupt their functionality.

Wireless Home Security Systems:

These operate on battery or solar power, ranging from $200 to $2,000 and you might pay extra for wireless connectivity.

Complete Home Security Systems: Monitored 24/7 by professionals, these break down as follows:

Essential equipment: $140 to $600

Additional sensors: $40 to $370 each

Installation: $0 to $400

Activation: $0 to $230

Monthly monitoring: $20 to $60/month

2. Understanding Home Security System Components

Control panels: The heart of your home security setup, a standard master control panel includes date and time, weather updates, temperature readings, and options to arm or disarm the system. It also offers a keypad for entering security PINs, a speaker for intercom communication, and integration with smart home automation features. Additionally, panic buttons are available for emergencies. Place the base stations of the master control panel near the front door for easy access. Modern control panels are touchscreen and digital, and the master control panel can be operated remotely via smartphone.

Sensors:  

• Door and window monitors:These are affixed to your home's entry points and operate on a closed circuit. When a door or window opening disrupts the circuit, an alarm triggers to alert you.
• Motion detectors: They use ultrasonic sound signals to sense changes in their surroundings and activate lights or alarms in response to unusual activity.
• Glass break detectors:They recognize specific sound patterns to alert the entire security system to a potential break-in swiftly, minimizing false alarms with their precise detection capabilities.

Cameras: 

• Outdoor: Some outdoor security cameras may solely record footage, while others can stream it directly to your smartphone, computer, or laptop for real-time monitoring. Strategically position these cameras around your home's perimeter to eliminate blind spots and deter potential intruders.
• Indoor:Indoor security cameras act as the final line of defense against break-ins. They also offer a 360-degree panoramic view and durability against tampering. However, outdoor cameras are typically more resilient to weather conditions.
• Doorbell: Doorbell cameras offer real-time alerts and video surveillance, facilitating visitor communication via a two-way talk system. They can be hardwired or battery-operated.

If you are worried about efficiency and affordability, check out the eufy security cameras. They offer peace of mind without a hole in your pocket. The wide range of outdoor and indoor cameras and the newly launched solar charging systems will keep your home security cost low.

Alarms: Carbon monoxide detectors detect odorless and tasteless gases that pose severe health risks to humans and pets.

Similarly, smoke detectors alert you to potential fires, even when you're asleep or away from home.

Smart Home Integration: These electromechanical locks offer usage via an electronic keypad, a mobile device, a fingerprint sensor, an access card, Bluetooth, or a Wi-Fi signal. Good quality smart locks are sturdy and resistant to hacking attempts. Parents particularly appreciate smart locks for their convenient keyless entry.

The Cost Breakdown: 

• Basic whole-house system (starter kit): $460
• Base station (control panel): $130
• Indoor security camera: $175
• Outdoor security camera: $175
• Video doorbell: $170
• Contact sensor (entry sensor): $170
• Motion detector: $80
• Glass break sensor: $110
• Smoke or CO detector: $75
• Floodlights: $150
• Key fob: $75
• Panic button: $30

(Note: Costs are based on one unit each.)

Activation fees for monitored home security systems range up to $230.

• Smart locks: $150 to $500
• Smart lighting: $15 to $90
• Smart smoke alarms: $40 to $110
• Smart carbon monoxide detectors: $40 to $110
• Smart thermostats: $130 to $500

3. Installation Options and Their Costs

DIY systems are great for smaller places like apartments, where something like the eufy security system with Homebase 3 can be a budget-friendly home security cost choice.

homebase 3

Comparison of DIY and professional security system installations:

• Prices can range from around $5 to over $100 monthly, depending on the included features. Professional services usually cost $45 to $50 monthly and often require contracts and subscriptions.
• Professional services offer 24/7 monitoring with intelligent cameras detecting pets, packages, and people. DIY installed systems offer monthly professional monitoring subscriptions, starting at around $20.
• DIY options like eufy allow users to build their kits based on specific needs and budgets.
• DIY packages generally cost less for hardware and monitoring subscriptions. However, professionally installed systems often include installation costs in their pricing.
• Few provide a two-year warranty and a 30-day return policy. Similar support may be available for both professional and DIY systems.

Tips for reducing installation costs.

• DIY systems offer modularity and affordability for those willing to handle simple installations.
• Explore rewards programs associated with your job or credit card.
• Opt for wireless systems starting around $200 instead of wired between $800 to $1,600.
• Subscription-free models come with high-quality smartphone apps for self-monitoring.
• Install local storage options. Although upfront costs may be higher, you'll incur fewer expenses over time.
• Check if your insurer offers specific system type or brand discounts.

Besides, you can:

• Hang bells in entryways to create noise alerts when windows or doors open using recycled food cans.
• Install battery-powered stick-on alarms on doors and windows from dollar stores or home improvement shops, and reinforce doors with steel options or reinforcement kits.
• Remove sidelight windows near doors to prevent easy access, and install affordable solar-powered motion lights around your property.
• Promptly repaire or replace any damaged locks, and maintain a clear perimeter around your home.
• Keep a dog for added protection without extra expense.

4. Monitoring Services Explained

Monitoring services rely on alarms activated by motion detectors, smoke detectors, or window sensors, transmit alerts to the monitoring center when activated. Upon receiving an alert, technicians follow a step-by-step process: first verifying the emergency with you, then, in case of a false alarm, canceling it and informing emergency services if necessary. If you're unavailable, they contact emergency responders in situations like home invasions or fires.

Comparison of self-monitoring vs. professional monitoring costs

In a self-monitored setup, when an alarm triggers, it notifies the homeowner via their mobile app. Alerts originate from various devices like motion sensors and cameras. Subsequently, users take action through the app.

Conversely, professionally monitored systems relay alerts to a monitoring center staffed by trained professionals who assess the situation remotely and guide over the phone.

A DIY self-monitored system is for those who regularly monitor their security system app and handle emergencies effectively.

Professional monitoring services cost between $20 and $60/month. Meanwhile, monthly fees for DIY-installed security systems can range from $4 to $22 monthly.

Factors that influence monitoring service prices.

Key factors contributing to home security cost services are:

• Larger or more complex properties require more cameras and advanced analytics, leading to higher expenses.
• Storage requirements and bandwidth usage influence costs, retention period and camera resolution affecting storage needs.
• 24/7 monitoring is more expensive than part-time or on-demand services.
• Integration with existing systems and customization requirements can impact overall home security costs.
• The reputation and expertise of the monitoring service provider influence costs.
• Remote monitoring services are often more cost-effective than on-site security teams.
• The cost structure includes an initial setup fee covering installation and equipment and a monthly or annual monitoring fee per camera.

5. Additional Costs to Consider

Additional home security costs:

Equipment upgrades: Upgrading to advanced security cameras and additional functionalities may cost more. Additionally, professional installation incur additional fees ranging from $50 to $200. 

Maintenance fees: Maintenance for security systems is primarily around $10 per year for battery replacements.

Additional sensors or cameras: Standalone items like cameras or motion sensors start at about $80 each.

6. Price Comparison of Popular Home Security Systems in 2024

Here's are some popular home security system companies/brands:

• Ring:

Price: Hardware starting from $200; Professional monitoring subscription from $200/year

Pros: Affordable monthly fees, no long-term contracts 

Cons: Limited compatibility with other smart home technology

• Abode:

Price: Hardware starting from $140; Professional monitoring subscription from $220/year Pros: Low-cost, on-demand professional monitoring, integration with smart home technology 

Cons: Starter kits have limited devices. 4G cellular backup is exclusive to the Pro Plan

• SimpliSafe:

Price: Hardware starting from $250; Professional monitoring subscription from $30/month 

Pros: Lower monthly monitoring fees, no contracts 

Cons: Higher upfront equipment cost, lack of facial recognition leading to false alerts

• Cove Security:

Price: Hardware starting from $229; Professional monitoring subscription from $18/month 

Pros: Flexible monthly costs, compatibility with Alexa and Google Assistant 

Cons: No outdoor cameras, limited self-monitoring options

• ADT:

Price: Customizable hardware; Professional monitoring subscription from $46/month 

Pros: Long-standing reputation, comprehensive, professionally installed central monitoring services 

Cons: Higher costs compared to other providers

• Brinks:

Price: Hardware starting from $200; Professional monitoring subscription from $39/ month 

Pros: Good customer service, reliable equipment 

Cons: Lengthy and expensive contracts

• Vivint:

Price: Customizable hardware; Professional monitoring subscription from $20/month.

Pros: Advanced tech features, flexible pricing 

Cons: Some reports of aggressive sales tactics

7. Cost vs. Value: Evaluating Your Home Security Investment

While investing in a home security system, the cost is essential, but there's so much more to consider!

Home security offers the peace of mind and can potentially save you from losses due to theft or damage. Some systems can lower your home insurance premiums, which is like a bonus! They offer reliability! You want a system you can count on. Good customer service is vital, too for when you have questions or concerns. And who doesn't love a system that keeps up with the latest technology trends?

8. Financing and Deals: How to Make Home Security Affordable

Sales and Discounts

• Distinguish between sales and discounts to grasp whether the price drop is temporary or permanent.
• Keep an eye on upcoming promotions through social media updates and email newsletters.
• Follow security system brands on social media for exclusive offers and promotional codes.
• Subscribe to email newsletters for insider access to upcoming sales and discounts.

Bundling and Package Deals

• Maximize savings by opting for bundled packages that offer multiple devices and services at discounted rates.
• Evaluate bundled packages for additional sensors, cameras, or monitoring services.
• Customize bundled packages to avoid unnecessary components that may not benefit your setup.
• Compare the overall value of bundled packages against individual items to determine the most cost-effective option.

Negotiating

• Negotiate with sales representatives.
• Highlight your loyalty or potential for future business.
• Ask sales representatives about ongoing promotions or upcoming discounts not advertised.
• Inquire about free installation or extended warranties.

Timing Your Purchase

• Plan your purchase around holiday sales and special events to take advantage of discounts and promotions.
• Explore end-of-year discounts and clearance sales.
• Stay alert for anniversary sales or limited-time promotions throughout the year.
• Plan your purchase to avoid seasonal fluctuations.

Financing and Payment Options

• Explore financing plans offered by security system companies to spread out the cost over time.
• Look for instalment plans with interest-free periods and avoid additional fees.
• Take advantage of cashback offers or reward programs from retailers or credit card companies.
• Assess upfront costs, interest charges, and additional expenses.

FAQs on Home Security Costs

Q1: What's the price tag for home security these days?

A: Installing a home security system can cost around $600. However, a basic DIY package, might be for as little as $200. Installation fee can be $100 to $400, activation fee up to $230, and ongoing monitoring service charges will be $20 to $60/month.

Q2: Are home security systems worth the investment? 

A: Home security systems help keep potential intruders at bay with continuous surveillance. The peace of mind and added protection make them a valuable asset worth considering.

Q3: Can security systems deter burglars?

A: A study by the University of North Carolina at Charlotte that surveyed 422 convicted burglars revealed that 83% of them admitted to checking for alarm systems before attempting a break-in.

Conclusion

Thus, home security costs is all about finding that sweet spot where you get the best for your buck in home safety. So, remember to prioritize security and value. Don't rush into it; take your time to pick what fits your needs and budget. If you invest wisely, you're not just protecting your property but investing in peace of mind for you and your loved ones.