Lately, home security systems are on everyone’s mind, mainly, because we all understand the importance of protecting that which is dear to us, our family and our home, and the statistics offered by the FBI can be frightening.
Nonetheless, you need to examine which security system is right for you and how much this priceless protection will cost to install and monitor.
Factors Affecting Home Security Costs
It is important to know that there are several factors which will affect the final cost of a home security system.
Chief among these is the decision between:
- DIY
- Self-Installed and Monitored System
- Professionally Installed and Monitored System
This choice will directly impact the cost of:
- Equipment
- Installation
- Monitoring
- Maintenance
So, what is the average cost of a home security system?
The cost of installing and monitoring a home security system varies by area and the number of entry points (aka windows and doors) in your home.
The fastest way to find out exactly how much a particular system is going to cost you is by calling and requesting a free estimate or price quote.
Professionally Installed Home Security System
All major companies have bundled packages with a set number of sensors and devices. Sales agents can also help custom build a system to meet your security needs.
A professionally monitored, hardwired system is more expensive to install than a wireless system. The cost of a wired home security system averages between $120 to $600. Conversely, wireless components are more expensive but require no drilling.
Sensors are installed using adhesive. You will save on installation costs. But will pay more for the equipment. When installing wired systems, the technician will have to drill holes and run wires through your home to be able to connect the sensors and control panel.
This process is time-consuming. You can expect to pay between $300 to $1500 upfront for installation costs. The cost of upgrading a wired system or replacing a failing component is also higher.
A wireless sensor can be easily replaced, no wiring or technician required. Remember, however, that the number of sensors and extra devices that you select for your system, be it wired or wireless, will undoubtedly increase both the cost of installation and total cost of the equipment.
A wired system typically uses the home’s existing landline to send signals to the monitoring center. Modern versions of the system use a cellular network as a backup when the landline connection is interrupted or communicate solely through the cellular network, as opposed to a wireless home security system that solely uses cellular connections to transmit signals.
Usually, basic equipment is included in the monthly monitoring price, with higher end companies offering it at no additional cost if customers sign a monitoring agreement.
The average length of the monitoring contract is 36 months, but it can vary. Before you commit, read the fine print. Monitoring costs range from $14.99 to $60.99 and check the company’s latest information on the Better Business Bureau website.
DIY Home Security System
Your other option is a DIY system. These systems give you more choices. A DIY wireless system requires the homeowner or renter to install the entire system themselves.
Installation is not really complicated. All the companies we’ve looked at that offer DIY systems provide detailed instructions and videos to help you successfully install all the devices yourself.
Wireless home security providers give customers two choices:
- Self-Monitoring
- Professional Monitoring
There are also companies that offer a midway option, which requires customers to pay a monthly fee for sending smartphone alerts, not for monitoring their homes.
Many of these systems can also integrate with smart-home features or can even double as smart-home platforms, incorporating smart thermostats, lighting, and door locks.
Many DIY systems start with very basic setups and equipment that include the control panel, a high-decibel alarm, and a few door/window sensors, which contributes to their lower price point.
Popular Home Security Companies
Most of these providers now include home automation. All you need to do is purchase the required equipment and pay a monthly fee for the service.
Frontpoint
One of the most popular wireless home security providers, Frontpoint, offers a basic package for $199. Customers can add as many sensors as they need. Monitoring from this provider starts at $34.99.
Vivint
Vivint, another popular wireless security provider, offers no-cost professional installation and monitoring starts at $39.99. The company’s basic equipment package is priced at $549.99. Customers can decide whether to finance the system or pay for it in full.
Simplisafe
Simplisafe gives customers a choice to self-monitor their systems but must pay extra if they want to be able to use their smartphone to do it. The minimum monthly fee is $14.99, with equipment packages starting at $230.
Wrapping It Up
The smart home option has become very popular with today’s consumers as it gives them the opportunity to simplify their lives.
With home automation, customers can control all the smart devices they add to their network. Users can monitor and manage their smart thermostat, lock and unlock doors, and control lighting.
This is, of course, in addition to managing their security system from a smartphone. Some systems also support the addition of a smart doorbell that lets you answer the door from virtually anywhere.
Whether you decide to install and monitor a security system yourself or have a professional install and monitor the system for you, what you will pay mostly depends on the type of system you select, wired or wireless, and on the number of sensors you need to protect your home adequately.
The average cost of home security systems is between $600 and $1,200, with a monthly monitoring payment of around $30. Keep in mind, though, that the addition of extra sensors, surveillance cameras, and home automation devices will substantially increase your final investment.