If you’re considering installing a home security system, you’re not alone. According to a survey by Coldwell Banker, 47% of Millennials, who currently make up the largest share of homebuyers, have smart products in their homes—including those smart cameras, doorbells, and alarm triggers. Investing in security can do more than give you peace of mind and help protect your investment, however. It can also increase the value of your home.
Here’s what you need to know.
Home Security Systems Can Reduce Your Homeowners’ Insurance Bill
When buyers are looking at buying a new home, they take every potential cost into consideration—and that includes the insurance bill.
A home that’s in a flood plain will require the extra cost of flood insurance, for example, increasing your overall insurance costs. And a home that has a security system will often take your insurance bill in the other direction, yielding a discount of anywhere from 5-20%, depending on the provider.
This is one way a security system can make your home more attractive to buyers.
Security Systems Can Offer Energy Savings
Smart home devices that integrate security with energy savings can also be highly attractive to buyers who want to increase their home’s sustainability while also decreasing utility costs.
Options like those from the Apple HomeKit and Google Home ecosystems can help homeowners not only protect their home, but optimize their energy usage based on time of day, who’s home, and whether your home will be empty for a few days (like when you go on vacation).
Homebuyers With Children May Place a Premium on Smart Home Devices and Security Systems
If your home is one that’s naturally geared toward families—say, if it has a large backyard, or is in a neighborhood with amenities like pools and playgrounds—the buyers who are interested in it may be more disposed toward features that give them peace of mind. Security systems, along with the smart home devices that integrate with them, are some of these.
The top reason, of course, is the most obvious: parents want to protect their children from as many potential threats as possible, and having signs of a visible security system (outdoor cameras, signs, stickers) makes it much less likely that a burglar will target the home.
There are additional benefits to parents, as well. Security systems controlled through a mobile device can allow for remote entry into the home—perfect for when a child forgets their keys, or they need to let a babysitter into the home.
Security Systems Can Increase Your Appraisal Value
Finally, security systems can increase your home’s appraised value, which can be beneficial in negotiations.
If your home is equipped with the latest in security and smart home technology, that will place it at a higher value than other similar homes in the area that don’t have that technology included.
Security systems can offer increased peace of mind and convenience for potential buyers, along with cost savings. If you’re looking to sell, make sure to talk to your real estate agent about any security or smart home systems that you have.