Home Security System can be beneficial when it comes to ensuring the security of your family and your home. However, as with any substantial investment, it is only natural to be concerned with the expenses incurred before making a purchase. Home alarm systems are available in a wide price span that starts at a couple of hundred dollars for a DIY system, and tops at several thousand for a professional installation. The costs range from $300-$1500 on average for equipment, installation, and monthly monitoring fees. The following are some of the reasons that make up the total cost of the project:

Initial Equipment Costs

The main equipment you'll need falls into two categories: 

Alarm – These are the speakers that make a loud alarming noise when the system is on. Controls – these are the brains of the system that control the other parts of the system including the sensors, alarm sound, and system access. Prices range from $100-$500. Keypads – Wall-mounted touchpads enable a user to activate as well as deactivate the system. The costs vary between $30 and $150 for each keypad. Sensors & Detectors – They are used to sense intrusions or threats such as smoke or carbon monoxide. It can cost as low as $15 or as high as $100 for a single sensor. Other accessories such as cameras, glass break detectors, and motion detectors also contribute to the cost. A basic system can be easily installed with a control panel, one keypad, and 3-5 primary sensors at most. Advanced systems can have two or more keypads, and more than 10 sensors, and can include cameras and/or home automation systems. As the number of equipment increases, the initial price also increases.

Installation Costs

If you are moderately do-it-yourself inclined, it is possible to install a rudimentary alarm system in a day. As for more complicated arrangements, it is highly advisable to turn to professional services. Installation costs differ depending on factors such as geographical location and the extent of the work required. Easy to install on your own – Free Difficult installation by a professional security firm – $200-$500 Additional wiring for smart home compatibility or other electrical work may also be an additional cost. They also entail cable and outlet access which may also lead to electrical expenses in the future. It is always advised to get a breakdown of installation costs before getting a quotation so that you know the total amount you will be required to pay when the installation is complete.

Monthly Monitoring Fees

Almost all the security companies we researched require customers to pay a monthly fee for the monitoring of the home alarm system. So that police can investigate you get access to emergency dispatch and alerts if your alarm is triggered while monitoring. The monthly monitoring fees usually range from $15 to $60 per month. The more advanced features offered or faster response time in emergencies, the more monitoring will be every month. Monitoring plans are often compulsory if the equipment is leased or financed through a security firm. Some of the fees that you may be charged include annual fees, and false alarm fees where too many erroneous alarms occur within a year.

Financing Options

Most security companies allow you to lease alarm systems so you can pay in installments. Financing typically means that a person pays nothing or a minimal amount for the device and then is charged over an agreed number of months or years. They will incur higher costs than they would like over the entire period of the loan. Pay attention to all the financing options provided by the company or institution so that you are aware of the actual costs. It is also important to know about buyout options in case you sell your house. Another form of assistance is the provision of grants to enable low-income earners to secure cheap or even free alarm systems.

Cost Influencing Considerations of Home Alarm Systems

Now that you know the main components of costs, here are the key factors that determine overall price: 

Level of Security Desired – If more sensors are required, more cameras, and more components, then the cost will be high but the security will also be high. Monitoring Response Time – There is always a trade-off in regards to the quick response from the dispatch center, which can cost $10+ more per month. System Type – Professionally installed systems are relatively expensive compared to the ones that are installed by homeowners. However, I find that DIY does not have proper instructions from a professional. Home Size - Larger homes require more equipment to ensure that there are adequate security measures at all the entry points. False Alarm Tendencies – Regular false alarms from pets or system faults attract charges from the monitoring firms. Control via Smart Home Hubs/Devices - It is an added service that also allows you to monitor and control your alarm through smart home hubs and devices but it’s a little pricier and offers whole-home integration. Size - When you sign up for a longer term the rates are generally cheaper but if you switch locations you may not be able to use the service. Energy Usage – Wired systems are more costly to implement as compared to wireless systems. Location - Costs are generally higher in regions with high wages or high standards of living.

Ways to Save Money on Home Alarm Systems

While home alarm systems involve a considerable investment, there are ways to reduce the costs: 

  • Select a simple model you can self-install by yourself to save on professional charges.
  • Where possible select wireless components to prevent expensive wiring costs
  • Purchase equipment as opposed to leasing to eliminate fixed terms and unnecessary charges
  • Compare monitoring plans for the lowest acceptable monthly rate
  • Purchase your home alarm alongside other services such as home insurance to enjoy discounts from a single supplier
  • It is also advisable to collect quotes from different companies to use them as bargaining tools.
  • Preventing false alarms can be done by training pets, tweaking motion sensors, or letting guests know.

Having an alarm system for your home can be of great help in ensuring that your home is secure. However modern technology has ensured that quality equipment and monitoring services can be obtained even at low costs. You should research what is reasonable to be spent based on your needs. And with some wise purchase choices, it’s possible to locate a configuration that meets the family’s security requirements as well as its fiscal capabilities.

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