Does a home security system improve your home value?
Smart home systems and home security systems have become an increasingly popular way to keep your family safe, save money, lower costs, and protect your home. But does it add value to your home?
Home security systems, especially smart home systems and professionally monitored systems, appear to improve the marketability of your home and can be a nice plus for homebuyers when comparing homes side-by-side. However, don't expect a full return on your investment.
Key Overview:
Home security systems marginally increase appraised home values and can be a solid selling point for buyers choosing between multiple properties
Professionally monitored systems and smart home systems are the most valued by homebuyers
Security systems protect your family, house, and belongings, and can save you money on homeowner's insurance each month, paying for themselves fairly quickly
Do home security systems increase home value?
Home security systems can increase the marketability of their homes. According to a survey conducted by Coldwell Banker, 28% of adults in the U.S. have smart home products including home security systems in their homes. Millennials, currently the largest share of homebuyers, are the greatest adopters of smart home products with 47% claiming to have them in their home. When you're selling a house with an alarm system, it's important to highlight these benefits in your marketing materials in order to attract those tech-savvy buyers.
Home security is a big selling point when potential buyers assess a property but don’t expect it to add discernible monetary value to the offer they make on your house. It might help entice tech-savvy buyers, but for most people, home security is just an added bonus, not something they value highly enough to make any sort of significant difference to the sale price.
When it comes to appraisal values, home security systems have been seen as a beneficial addition, although usually only by a small margin. While it is difficult to assign an exact value to home security systems, having modern smart security technology can help sway appraisers towards granting a higher comparative price for your house if it is rated favorably in all other categories. However, don't expect a significant increase based on this factor alone.
System features like motion sensors and infrared cameras provide added peace of mind for weary buyers who are looking for extra layers of protection for themselves and their families. Additionally, it's important to explain to potential buyers how your system operates: whether it has two-way audio capabilities or remote notifications when there is an unexpected activity or intrusion on your property should be clearly detailed for potential buyers. Making sure that they understand all the features that come with your security system might just help make them choose your home out of all the others on the market.
Adding a home security system to your home can be a good investment for its value. Not only will it protect your possessions from potential thieves, but it can also help you benefit financially. With a home security system, you may be able to qualify for discounts on your homeowner's insurance policy, meaning potentially more money in your pocket. Additionally, many systems are integrated with smart devices that can help an individual save energy and reduce utility costs.
A neighborhood’s overall security level also has an impact on the value of nearby homes. Homebuyers often consider safety and crime levels when looking for property to buy. If everyone in the area has invested in home security systems, it makes their personal homes safer and creates a safer atmosphere for all who live there. It also makes your home more desirable than others in the vicinity when selling or renting out the property. Working with friends and neighbors to upgrade security quality is bound to be beneficial in terms of monetary value when it’s time to put the house on the market.
Types of home security systems
There are a variety of systems in the market, with popular models including the Vivint Smart Home, Frontpoint, Google Nest, and Abode. Consider if you want a model that is professionally monitored and if it makes sense to integrate with an overall smart home system.
Professionally monitored
When it comes to home security, professionally monitored systems are the most effective. With a professional monitoring system in place, homeowners can rest assured that even if they’re away from home, their security is still being kept in check. When an alarm or camera triggers an alert, the monitoring center receives this message and dispatches professionals to investigate further. The people at the center have been trained to expertly detect potential threats and can differentiate between false alarms and genuine emergencies. In case of an actual emergency, the security team will immediately contact the homeowner directly, as well as any emergency responders such as police or fire departments on their behalf if necessary.
Smart home security systems
The latest home security systems offer advanced technological features that make them more than just a simple alarm system. Sophisticated control and convenience are made possible through the ability to pair your home security system with your smartphone, allowing you to control various aspects of your home from wherever you are. This includes viewing security cameras, locking external doors and windows, and arming or disarming points of entry or exit. Additionally, you’ll receive instant notifications whenever an alarm is triggered so that you can address any potential issues right away.
Benefits of a home security system
Deciding to put in a home security system goes beyond the return on investment. Security systems increase safety by preventing burglaries, increasing feelings of safety, and intervening promptly in the event of an intrusion.
Prevention of burglaries
No one wants to face the harsh reality of having their home broken into. Home burglaries can be costly and emotionally taxing, with the average cost of a burglary in the United States coming up to around $3,000. Fortunately, it is possible to reduce the risk of burglaries by taking some simple preventive measures like investing in home security systems and being mindful about good habits such as not leaving lights or heating on for long periods after use.
Increase feelings of safety
Having the right security system in place is essential to the well-being of your family and belongings. A security system serves as an extra layer of protection that brings you closer to your home even when you’re miles away.
Modern home security systems come with mobile apps or offer integration with other smart home features. With the help of these applications, people can check on their homes wherever they are between meetings and appointments at work. Moreover, they can confirm whether their house was locked properly by the pet sitter or if the kids safely arrived from school before dusk for added peace of mind. Furthermore, should there be any emergencies or intrusions, professional monitoring centers will alert you and dispatch authorities promptly for assistance. All of these kinds of features add up to ensuring you feel protected both inside and outside your home.
Future buyer appeal
When it comes to home buying, the safety and security of the neighborhood are important aspects that concerned home buyers consider when making an informed purchase decision. To convince potential buyers that they can feel at peace in the property they are looking at, sellers can highlight security investments made in their homes. Home investments such as hardwired systems that are left behind reinforced exterior doors, strong locks for each window, and motion-detected exterior lighting can be presented to show how seriously they take security in their home. Homeowners may also install higher-end home security items such as closed-circuit television systems (CCTV) which will allow them to monitor any activity around the property in real-time, or set up additional security cameras both inside and outside the house.
Homeowner insurance discounts
Many insurance providers offer discounts if certain security precautions are taken to protect the house. One of the common ways to reduce monthly premiums is by installing a professionally monitored home security system. This type of system alerts you when a potential intruder attempts to access your home, reducing the chances of theft and thus lowering your overall risk factor in the eyes of your insurer. Depending on your particular insurer, you could receive up to 20% off your homeowner’s insurance policy with an actively monitored home security system installed and activated.
The bottom line
Home security systems offer numerous benefits such as prevention of burglaries, increased feelings of safety, and potential discounts on homeowner’s insurance. Additionally, having a home security system installed can be an attractive feature to future buyers which may increase the value of your home. With all these advantages in mind, investing in a home security system could be the best decision you make for your family and property.
