{"id":17152,"date":"2021-01-28T08:00:00","date_gmt":"2021-01-28T13:00:00","guid":{"rendered":"https:\/\/www.zolo.ca\/blog\/?p=17152"},"modified":"2022-01-04T12:30:19","modified_gmt":"2022-01-04T17:30:19","slug":"are-home-security-systems-worth-the-cost","status":"publish","type":"post","link":"https:\/\/www.zolo.ca\/blog\/are-home-security-systems-worth-the-cost","title":{"rendered":"Are Home Security Systems Worth the Cost?"},"content":{"rendered":"\n\n\n

One of the main reasons Canadians buy homes is to feel secure. In fact, in a 2020 Zolo survey<\/a>, 23% of homebuyers admitted their primary motive for home buying was just that \u2013 stability and safety. But with that sense of security comes many psychological factors that lead to more spending, as emotion drives our financial behaviours. We feel more inclined to have video cameras, and we are more aware of what our neighbours drive and when they come and go. We all have an inkling to protect ourselves and arm ourselves with information. <\/p>\n\n\n\n

At this point, I listen to so many true crime podcast episodes; it’s becoming impossible not to feel like it’s necessary to track what time it is whenever someone drives by, drops off a friend or picks up groceries. <\/p>\n\n\n\n

To some, hiring an alarm service provider and spending money on top of the line security cameras might seem excessive. To others, it’s a no-brainer. <\/p>\n\n\n\n

Although there are many ways to protect yourself and your home<\/a>, and it\u2019s often good to have more than one preventative measure in place, home security<\/a> systems are a common choice.<\/p>\n\n\n\n

Many homeowners feel like they can’t put a price tag on their families’ safety, but do these safety measures really protect you from intruders or is the purchase simply to appease a sense of security? Let’s do a cost-analysis on the emotional aspect of home security systems and a deep dive into the statistics to find out how worthwhile your expensive alarm system is.<\/p>\n\n\n\n

\"Family<\/figure>\n\n\n\n

Do We Need<\/em> Home Security Systems?<\/strong><\/h2>\n\n\n\n

For most homeowners, having a place that provides us with privacy and relaxation is a driving factor in our decision to buy. So, anything that can help validate those two feelings could easily be argued as a necessity \u2013 and statistics continue to back up the \u201cneed.\u201d In 2019 alone, there were 161,291 burglaries<\/a> in Canada.<\/p>\n\n\n\n

Lina Grajewski has been a homeowner since 2019. Unfortunately, though, she has more experience than the average person when it comes to breaking and entering and the desire to feel safe in her own home. After one break-in and one incident with a stalker, Grajewski has learned the importance of home security time and time again. <\/p>\n\n\n\n

“After the first break-in, I made sure I had either equipment or a professional system,” says Grajewski. Since installing her system, two following break-in attempts were fortunately stopped thanks to her alarm system. \u201cThe window and doors were tried and the noise deterred them,\u201d said Grajewski. <\/p>\n\n\n\n

Even though her security system is more expensive than her expectations, she says the peace of mind is worth the initial charge for hardware, plus the additional $2 per day she pays for professional monitoring. <\/p>\n\n\n\n

Like anything we spend money on, most of our purchases have an emotional factor. “Why does one person choose a $500 car seat while another chooses a $250 car seat for their child \u2013 even though both meet National Safety Standards?” says Catherine Lopez, a Financial Educator at No More Debts<\/a>. <\/p>\n\n\n\n

For that reason, the fuzzy logic line between a want and a need can sometimes blur. To be clear about what you need, Lopez suggests you examine the decision based on  your values. “Before you spend money on a security system, you have to decide about whether or not this purchase will either improve, decrease or have no change in your lifestyle.” <\/p>\n\n\n\n

How Common Are Home Invasions or Break-Ins, Really?<\/strong><\/h2>\n\n\n\n
\"Young<\/figure>\n\n\n\n

A 2016 report<\/a> found that Canada’s security alarm services industry would increase its revenue to $1.1 billion by 2021. But, according to Statistics Canada<\/a>, around 426 in every 100,000 Canadians will experience a home invasion. If we have less than a 1% chance of experiencing this type of crime, why does home security continue to be top of mind for homeowners? <\/p>\n\n\n\n

For one thing, reports find that taking preventative measures can lower your risk of a home invasion by a significant amount. In a UNC Charlotte study<\/a> regarding burglars’ habits and motivations, 83% admit that they specifically look to see if there’s an alarm. Of those same interviewees, 60% would change their minds if they found a home security system. Therefore, even implying you have home security by installing a fake camera could prevent a potential break-in.<\/p>\n\n\n\n

“It [home security system] has definitely saved me at least twice,” says Grajewski. “Once while I was there and alone, and once while I was travelling to see my family for the holidays.”<\/p>\n\n\n\n

In reality, regardless of how common home invasions and break-ins are, when we hear of one or two stories that impact someone like us, we become more sensitive because it is<\/em> technically possible \u2013 regardless of how small the chance could be.<\/p>\n\n\n\n

What Are the Pros and Cons of Home Security Systems?<\/strong><\/h2>\n\n\n\n

Before you make any financial decision, a pros and cons list can help you determine if this purchase is worthwhile. Lopez says to ask yourself how much you are willing to spend on this type of system to achieve a sense of security. <\/p>\n\n\n\n

“For example, someone who has experienced a break-in may be willing to spend more money on a home security system than someone who just wants to make sure that their Amazon packages don’t get stolen,” says Lopez. <\/p>\n\n\n\n

The Pros<\/strong><\/h3>\n\n\n\n