On the Topic of Safety: How Much Do Alarm Systems Affect Resale?
Home alarm systems can be particularly hard to calculate into resale value or return on investment (ROI) because their job is to prevent loss rather than achieve gains. You purchase a home alarm system with the hope that you never need to use it.
The reality is that a burglary is reported to police every 14.5 seconds. But robbery isn't the only thing that alarms can save you from. Smart alarms can detect smoke and hazards.
More than ever, homeowners want to feel safe in their homes. A built-in alarm system may be just what it takes to get your house off the market.
1. Alarm Systems Aren't as Expensive as They Used to Be
According to HomeAdvisor's survey, most homeowners invest between $330-$1,040 when purchasing and installing home alarm systems. However, with the advent of smart, connected technology, home security is more affordable than ever.
Products like the Nest Cam Outdoor monitor your home in 1080p high definition video that you can access from your smartphone 24/7. This monitor also has a two-way audio feature, meaning you can use your voice to scare off intruders or give live instructions to a delivery service. Smart products allow you to monitor your home yourself, which cuts down the cost of hiring a security company to do the monitoring for you.
Smart products send security alerts right to your phone, allowing you to act fast and take control. Monthly security subscriptions on smart products are usually a fraction of the cost of subscribing to a traditional security service.
2. Add Resale Value
Owning a safe and secure home is appealing to every home buyer, from frequent travelers to families. That means pre-installed cameras, smoke detectors, and smart locks can be huge selling points. The more convenient and easy-to-use the security, the better.
One of the most desired security features for homeowners is motion sensor lighting over the driveway. Not only does it scare away late-night intruders, it also helps homeowners navigate in the dark. Buyers want added safety and convenience in their everyday lives, and the right security system can provide both.
3. Home Security Lowers Neighborhood Crime
In 2016, Rutgers University released a study that found that neighborhood crime rates dropped significantly when alarm systems were installed in multiple neighborhood homes.
Burglars are less likely to break into homes that are protected with home security, and that fact carries over when applied to entire neighborhoods. Safe neighborhoods are highly desirable to homeowners and can help your home sell faster and at a higher price.
4. Alarm Systems Can Reduce Your Homeowners Insurance
If you financed your home with a mortgage, you are most likely required to have home insurance. While the price of home insurance varies, most companies offer discounts to homes with security systems.
With a home monitoring system installed, you can save up to 20% on home insurance. Those savings can amount to hundreds of dollars per year or the cost of the security system all together.
5. They Save Money in the Long Run
Burglaries can cost you, not only in the possessions stolen from your home, but also in the damage that many homes incur during a burglary.
Most burglars enter homes through the front or back door or first-floor windows, usually breaking them in the process. The cost of fixing a broken window or kicked-in door can be even more expensive than the valuables taken.
It was found that when burglars enter homes with security systems, they are much more likely to leave quickly, taking fewer items with them.
While security systems aren't foolproof, they do offer the benefit of safety and security. Whether you're installing a system for yourself or for future homeowners, the peace of mind it offers is the ultimate ROI.
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Written By: Katy Caballeros