Searching around for a home security system? What kind of features are you looking or and what’s your budget? There are so many costs involved in addition to the price of the system and the cameras. Let’s consider all these costs and try to get a typical range of what your expenses should look like if you invest in a home security system.
The upfront costs include the costs of the surveillance system which comprises of the DVR, cameras and other required devices. You would have to pay installation and activation charges separately. All these are one-time expenses.
Average upfront costs fall between $250 and $4500 depending on your chosen system. Though plenty of options are available in the market, you should buy a monitored system. The average monitoring costs are around $30 per month, but can be as low as $10 per month if you choose a basic plan. Premier plans can even be priced at $100 monthly.
Now let’s take a detailed look at some of the costs that you can expect to encounter.
Equipment costs take up a large portion of your upfront costs. The average range for such systems is quite huge because so many different kinds of options are available in the market. Prices can go as high as $1500, but you can also find a basic home security system in as little as $299.
Some companies may claim that they offer equipment for free. But in these cases, there are usually extra costs involved. So the ‘free’ equipment isn’t exactly free and compensated for with other expenses.
Generally, home security companies don’t disclose activation fees until much later. The charge is one time, but companies may charge more than necessary. Activation fees are around $0 and $200.
Please note that activation fees and installation fee are not the same. Before signing any deal, find out about these charges, and accordingly decide, which option is best for you.
Almost every security company charges an installation fee for setting up your home security system. However, if you invest in a plug and play system, you’d be able to set it up yourself, meaning that you wouldn’t have to pay any installation fees.
These are charges you pay for asking an external monitoring center to monitor your home 24/7. The costs depend on your chosen equipment and plan. With most companies there is a basic fee, which is adjusted depending on the equipment that you’ve installed.
Assume that the basic monitoring fee is $40 a month. Should you increase the number of cameras, you may have to pay around $15 more, totaling the fee to $55. The same applies for smoke and carbon monoxide detectors as well. Generally, for every smoke detector, you pay around $2 more and for every carbon dioxide detector, charges increase by $6.
Other Consideration Factors
You should also consider other factors before you invest in a home security system. These include equipment functionality, features and customer service. All these impact the total value you get out of a system, and so should be considered along with the costs.