Looking into a home security system? You’re not alone. Despite the rate of burglaries dropping 68% in the last decade, an increasing number of Americans have chosen to install home security systems – with over $21.5 billion in projected growth by 2026.
The rising demand for home security has driven more home security systems to the market - making it a great time to shop for a home security system that won't break the bank.
With more systems and features to choose from, selecting the right security system can get a bit complicated. Let’s simplify the process and take a look at three types of security systems available today.
Leave it to the pros
Professional security systems are considered the safest option.
The increase in high-quality security system sales has largely been fueled by slower response times on less reliable systems. These systems have also been responsible for an increasing number of false alarms as they are not as high tech as their professional counterparts.
Professional security services are also deemed “safest” as they come with professional installation and 24/7 monitoring – both of which decrease instances of false alarms. With a pro service, 24/7 monitoring is truly 24/7 as they’re able to alert authorities when you are asleep, showering, on vacation or otherwise unreachable.
These professionally monitored services have a lower starting cost than most DIY options. However, they almost always require a long-term monitoring contract, making them the most expensive type of security system on the market.
Relative to their professional counterparts, the low cost, ease of installation and smartphone-enabled features of a DIY system are a few of the reasons they are the fastest growing sector of the home security market.
Companies like SimpliSafe will provide equipment for you to install, but once that's done they will monitor your home for intruders, fires, floods and other potential threats.
But, with no long-term contract homeowners and renters have more flexibility (and opportunities to save) on month-to-month monitoring services.
These wireless devices are easy to install – and they’re portable. So you can connect your home (or vacation home) to WiFi and get real-time alerts on your smartphone or computer.
Standalone security cameras are an effective and low-cost way to secure your home.
Most security cameras detect motions and sounds and ping you on your smartphone with real-time alerts. Some even have facial recognition so you won’t get notified every time your family walks past a camera.
While you will still be paying roughly $5-$10 a month for cloud video storage, you will save tons in the long run by monitoring the home yourself instead of a third party home security company.
Protect what matters most—get your home security system today!
If you're at all concerned with the safety of your home, it might be worth looking into a professional, DIY or self-monitored home security system to ease your mind. With a plethora of options available on today's market finding a system that protects your home and is within your budget is a much less daunting task than in the past.
Still not sure which system is right for you? Check out these side-by-side comparisons from the experts at This Old House.
Unsure of how to pay for your new home security system? A home equity loan from Spring EQ may be the answer, you can always connect with us here at Spring EQ – we’re happy to help!