There are multiple reasons someone may want to install a security system in their home. Usually, it’s done to protect the family – but installing these systems to increase the property value? Hard to imagine, isn’t it?
Yet home security is a booming market expected to grow 7% per year in the next 5 years. As we’re going to see more and more of these systems around, it makes sense to learn a bit about how to use them as leverage to sell the property.
Types of security systems
In order to understand how different security systems affect property prices, let’s see what types of security systems are available on the market.
Unmonitored Security Systems
As the name implies, these systems aren’t actively monitored, and instead rely on loud sirens to alert the homeowner and (hopefully) scare away the intruder. In most cases, it’s possible to install them on your own. Unmonitored systems add a nice layer of security to the house, plus both installation and upkeep prices are significantly lower than with other types of security systems. On the downside, these systems depend on you taking action in case of emergency. They aren’t that convenient if you find yourself traveling often.
Monitored Security Systems
If you have more serious security concerns, a monitored system is a great way to go. Like an unmonitored system, it consists of motion detectors, door and window sensors, and smoke detectors. The major difference is that these are controlled by professional security companies. In the event of an intrusion, the operator will dispatch the police or security company to check on everything.
As you may expect, this service comes with a monthly fee and it’s not a cheap option. However, a monitored system is a strong benefit that can increase a home’s value, especially for frequent travelers.
Wired Home Security Systems
A wired system relies on a landline phone connection. All the points (sensors, detectors) are hard-wired to the control panel. It’s a robust option that’s rather expensive and difficult to install, but once it’s in place you can easily use this as a selling point to potential buyers. The amount of time and money that went into installing the system is money they won’t have to spend when setting up their own security plan.
Wireless Home Security Systems
A wireless system is easier to install, and it won’t be a problem to upgrade if new owners decide to do so. A good wireless alarm provides a reliable level of security and is hard to tamper with. It will keep the new homeowner and their family safe, given they don’t forget to change the batteries.
Benefits of security systems
While the benefits of a home security system aren’t as expansive as those of a fully smart home, there are a few points that could be attractive to prospective buyers.
The security system makes a house safer
A pretty obvious benefit, but a valuable one – especially if you can explain it to the buyers. A home security system means that the owners won’t have to worry that they left a stove or some other appliance turned on. There are automatically fewer things to worry about when they need to leave their kids home alone. Going on a long vacation will not be as stressful, either. A security system doesn’t simply prevent accidents, it creates peace of mind.
It increases the actual value of a house
To install certain systems, you have to plan the layout, buy pricey equipment, and pay for installation. Not to mention, with wired systems, the entire process is quite messy. If everything is already in place, you’ll save buyers money, time, and a big deal of trouble. That’s convenience worth paying for, and it’s going to affect the price of the home.
Insurance companies are likely to provide a discount
Having a security system installed not only reduces a homeowner’s risks, it also mitigates risks for insurance companies. It’s a win-win situation for both parties, so insurance companies can provide a discount. If there’s a high-end security system installed, the discount on insurance premium may go as high as 20%. Sometimes this discount may completely offset the cost of operating a security system.
It’s important to understand that the security system itself often isn’t going to be a deciding factor in a purchase, but if the property in question already has one, it can be used as a highlight to help influence potential buyers. And who knows, it may help secure the sale if everything else is in order.
Did you ever have a client who prioritized their choice based on security systems? Share with us in the comments below.
Recent Comments