Every homeowner loves any prospect that could increase property value, whether it’s remodeling, renovation, or home additions. One of the most common questions homeowners ask is whether a home security system can increase property value. Let’s figure it out here!
In short, yes, a home security system increases property value by adding a layer of protection. Home security systems protect against burglaries, unnoticed fires, and other emergencies. Homeowners also enjoy peace of mind, knowing their homes are safe wherever they may be. Such perks always boost any property’s value.
This post will discuss how home security systems increase property value and why they are an essential investment for homeowners. We’ll start by covering how properties gain value.
In this Article:
Increasing Property Value
Homeownership is still an excellent investment opportunity with time-proven returns on investment. Typically, house prices appreciate steadily year after year as the population grows and demand increases.
Location is one of the most critical factors contributing to property value. Buyers prefer a convenient location with an excellent community profile, proximity to work and schools, access to city centers, and public amenities like hospitals and shopping malls.
All these are important considerations for buyers when purchasing a home, but there are ways to speed up this process. Today’s homebuyers and renters also prioritize security.
Boosting security also increases customer appeal and property demand. Think about it: who wouldn’t want to live in a safe and secure area? Unsurprisingly, properties with existing security systems are more likely to command higher prices than those without.
The Value of Security Systems
Homeowners are always dreading theft, burglaries, and home invasions. Also, other emergencies, such as fires, storm damage, and natural disasters, cause significant harm. Having a home security system is such a welcome layer of protection.
These digital systems typically include alarms, security cameras, motion sensors, and access control technology. Homeowners receive real-time alerts when something is amiss, with features to request a dispatch of emergency services like the police or fire department.
If a theft occurs, these systems will also likely capture footage evidence and help identify the culprits. So, burglars will stay away from houses or neighborhoods endowed with CCTV monitoring and security alarms.
Many studies show that security systems are a considerable deterrent to burglars. That’s why police in Kentucky encourage homeowners to install home security cameras.
Highlighting Studies Proving Home Security Systems Increase Property Value
Empirical data from the real estate market has consistently shown that security systems positively impact property value. For example, a study conducted by the Rutgers School of Criminal Justice found that homes with security systems sold for an average of 3.5% more than comparable homes without security systems.
In 2019, KBTV visited a corrections facility and interviewed 86 convicted burglars in the Oregon Department of Corrections. Most inmates broke in through unlocked doors or keys hidden in predictable spots. Most also broke in around 12-1 PM or 12-1 AM.
Generally, most of the inmates agreed that security cameras were a deterrent, and their advice to homeowners is to “Install CCTV cameras and make them visible to prevent burglars.”
So, How Do Security Cameras Increase Home Value?
Crime prevention is only one aspect of how security systems increase property value. Apart from providing safety and peace of mind, security systems offer many other benefits that positively impact property value. These include:
- Convenience: Smart home security systems are not limited to alarms and CCTV cameras. They can also have features like remote access, smart locks, and automated lighting control. These add-ons make life more convenient for homeowners and increase the property’s value.
- Remote monitoring: With technological advancements, homeowners can now monitor their properties from anywhere, anytime with their smartphones or tablets. This feature is desirable to potential buyers and can significantly increase property value.
- Energy efficiency: Many security systems have energy-saving features like motion sensors and automated lighting control. These save homeowners money on their utility bills and appeal to environmentally-conscious buyers.
- Insurance discounts: Installing a security system could help negotiate lower insurance premiums thanks to the risk reduction of theft or damage. This financial benefit is attractive to potential buyers and adds value to the property.
Despite these advantages, some common misconceptions exist about the impact of security systems on property value. Some homeowners believe installing a security system may decrease their property’s value due to the perceived additional cost. However, studies and data in the real estate industry consistently show this is untrue.
- Privacy Concerns: Some buyers may be wary of constant surveillance.
- Maintenance Costs: Installation and upkeep of cameras might add to maintenance expenses.
Home appraisals often consider security systems as a factor in property valuation. While not all appraisers may assign the same value, a security system can positively influence the final appraisal figure.
Ultimately, homeowners can enjoy peace of mind and an added layer of protection while also adding value to their property. With the various benefits discussed, it’s clear that investing in a security system holds significant advantages for both homeowners and potential buyers.
So, consider incorporating this feature into your home for increased safety, convenience, and property value. If you still need convincing, read the 5 reasons why you should install security cameras.