When it comes to the protection of your home and your loved ones, there is no better investment than a Home Security System. However, as with any substantial investment, it is expected that one would have concerns about the expenses incurred for the acquisition of such a system depending upon the choice made on which one suits the needs and financial capacity. This guide analyses the average costs incurred in the purchase, installation, monitoring as well as maintenance of home security systems to assist you in making the right decision.
Upfront Equipment Costs The hard costs are the amount that you will spend to buy the various apparatus that include the devices, sensors, the control panel, among others that are used in the home security system. Such costs may include, for instance, one-off installation charges. Expect to spend:
- Anywhere from $300 to $1,500 for a basic setup. This would include a control panel, keypad, motion sensor, door or window sensors, and a sign. Professional installation would cost $100 to $250.
- A mid-range system cost between $1,000 to $3,000. This would include all primary components and additional options such as smoke/fire sensors, carbon monoxide sensors, indoor and outdoor cameras, temperature and flood sensors, and controls for lighting and appliances. Installation would be between $250 and $500 and this would increase with the number of devices to be installed.
- $3,000+ for luxurious home automation systems, including home automation controls, video, notification, and mobile accessibility. Even with all the features, installation alone can start at $500.
In almost every case you can purchase the equipment outright or lease it at little or no interest for 2 to 5 years. This leads to the exclusion of a great one-time payment which can be difficult for someone to meet up.
Monthly Professional Monitoring Fees Thus, when your system is in place, the cost is not over as you will be facing many more costs. The majority of home security companies require an additional monthly fee to link your system to their professional monitoring facilities.
- Ranges from $15 to $60 per month for basic monitoring services. This enables the alarm monitoring center to be notified by sensors or cameras so that they can inform the authorities of a break-in, fire, medical emergency, or any other calamity.
- Additional monitoring plans range from $30 to $100+ monthly. You will get all the features of basic monitoring such as live video, activity reports, alerts, home automation features, and smartphone controls.
- Backup service for the cellular at $8 to $15 per month. This is useful in linking your system to cellular data networks in the event of phone/internet disruption that may hinder the transmission of alarm signals to the monitoring team.
Additional Maintenance Costs In some cases after a few years, some parts of home security systems may develop tears and may need to be repaired or replaced.
- About $15 to $40 per smoke detector per year to replace sensors that have reached their shelf life.
- $80 to $100 per outdoor or indoor security camera when the repair is not feasible.
- $15 to $60 per door/window sensor as the battery dies or component fails.
- $200+ for a new alarm system control panel if the old one has failed beyond troubleshooting.
Book Your Self-Install Now: Cut Back On Costs A way to minimize upfront costs of equipment and installation is to acquire an amateur home security system that does not require special technical assistance. This route can save you several hundred dollars, with three options for setup:
- Rental the equipment from the provider so that the company does not spend a lot of money on the initial acquisition of hardware. Monthly fees apply.
- It could be financed to pay off the equipment gradually probably interest-free instead of one bulk payment.
- You might consider buying the DIY system equipment if you are willing and able to spend $300 to $1,000 on it.
There is no perfect world where any of the options can be said to come without the need for maintenance, however, DIY installation when paired with the versatility of equipment financing or leasing ensures that you can afford great home security systems regardless of the amount of money that you have.
Key Takeaways A home alarm system is expensive in terms of the initial cost of purchase and installation and also involves monthly monitoring fees. But there is a considerable range in what you’ll pay:
- It is also important to note that basic systems can cost $25 per month for basic services.
- Complex systems that are fully automated can cost more than $ 100 per month.
- Installation fees normally cost between $100 and $500.
- The basic models cost around $300 while the advanced models are priced over $3000.
The total cost varies based on the provider chosen and the extent of features, components, and monitoring included. Take your time to find out how much of your home you want to protect and for how much. It is important to note that most of the providers have a policy whereby they can package the two in a way that you can do so.
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