The home security industry has enjoyed significant growth over the last 50 years. What used to be an amenity for the wealthy has become mainstream for the middle class. And yet there are still homeowners who do not take advantage of monitored home security because of the price. Is that where you find yourself?
Is your interest in monitored home security limited because you don’t think the price is worth it? If so, you are not alone. Your concerns are legitimate, as well. Monitored home security is an extra expense that needs to be taken out of the budget. And right now, when times are tough for a lot of families, you might not be able to justify the price.
However, before you dismiss modern home security for good, do yourself a favor and do some research. You might find that you have more purchasing power than you originally thought. Maybe the price of modern home security isn’t as high as you have been led to believe.
Research Equipment Costs
Every home security system starts with equipment. This is the biggest expense for most homeowners. How costly is it? That depends on the type of system you choose and the provider it comes from. You can spend as little as a few hundred dollars in as much a several thousand.
There are two equipment arrangements to choose from: the rental model and the purchase model. Under a rental scenario, you do not actually purchase the equipment yourself. You rent it every month, much the same way you probably rent a broadband modem/router from your internet service provider.
The purchase model is exactly as its name implies. You purchase the equipment up front. You own it forever, whether you continue to pay for a monitoring contract.
Monthly Monitoring Subscriptions
Once you have the equipment issue settled, the next area of research is monthly monitoring subscriptions. There are lots of companies that provide monitoring. Vivint Smart Home is one of them. Vivint’s price on monitoring is very competitive. In all likelihood, you’ll spend more on gas.
The one thing to be especially careful of with monthly monitoring is the contract. Some providers do not require a contract. You simply pay month-to-month as long as you want the service. Others require contracts of 12, 18, or 24 months. This is important for the simple fact that most contracts include a penalty fee should you decide to cancel early.
DIY vs. Professional Installation
One last thing to consider is system installation. Fifty years ago, there was no such thing as DIY home security. Home security systems were complex systems that required professional installation by trained specialists. Things are different today.
You can still get professionally installed home security through companies like Vivint. Some of them charge for installation while others do not. If you are not interested in having someone else do the work, consider a DIY system from a brand like SimpliSafe. DIY brands are a dime a dozen.
Monitoring Is Still the Key
This post has focused primarily on monitored home security for one specific reason: monitoring is the key to maximizing the benefits home security equipment offers. You do not have to pay for monitoring, though. You can save money by monitoring yourself.
Professional monitoring’s main draw is 24/7 coverage. Even when you are sleeping, a remote monitoring center is keeping an eye on your home security system. Whether or not you can afford it is up to you. Whether or not the cost is worth the benefits is a decision only you can make.