How Security Systems Can Impact Home Buying and Selling

Written by Posted On Tuesday, 03 December 2019 07:49

While property crimes have dropped 50% from 1993 to 2017, many homeowners still have significant concerns. Instant access to news through social media, websites and the 24-hour television news channels can make crime seem prevalent, despite the statistics. Combine these perceptions on home safety with the rise in new technology, and many homeowners opt to install smart home security systems with cameras inside their homes.

A smart home security system allows homeowners to customize their settings and control them from nearly anywhere. This includes door and window alarms, security cameras, and being able to lock and unlock doors automatically. A smart security system also lets owners see what is happening on their property, even when they are not home.

Pros of selling a home with a smart security system

Selling a house with a pre-existing smart home security system installed offers several perks to prospective buyers. Consider sharing these benefits with prospective buyers to help close the deal:

1. It’s an investment buyers don’t have to make.

Installing a smart security system can cost homeowners on average $1,405 upfront, which is double the amount of a basic security system, according to Parks Associates. This is a significant cost savings for new homeowners that are interested in a home security device.

2. A more convenient way of living.

Automation and technology are intended to make life easier, not more overwhelming. That is why agents need to show potential buyers how the technology would work in their life. For instance, if they leave the house but can’t remember if they closed the garage door, the smart technology would allow them to see that without having to return home to check. Similarly, lights and temperature can be controlled from other areas in the house.

3. Save money.

Saving money is a goal for many these days, and a smart security system helps homeowners with that in a few ways. First, being able to control temperatures, or know when the door is ajar, helps control energy costs. In addition, some insurance carriers offer discounts on home insurance premiums for having security systems in place. 

How much might buyers be able to save? It is estimated that homeowners can save approximately 3% annually. Depending on the homes location, that comes out to just over $30 per year when applied to the average annual premium of $1,083.

4. Paint the picture of being elite.

A smart security system is an elite perk and should be marketed as such. For some people, being on the cutting-edge with technology and devices could be appealing.

Cons of selling a home with a smart security system

While a smart security system has benefits, there are also some ways that such devices can cause things to go wrong and trip up a sale.

1. Buyers may feel uneasy about it.

More than 60% of homeowners don’t have any security system installed, and security systems don’t make them feel safer. If security systems don’t make individuals feel secure, some clients may actually feel less safe after discovering a security system is installed, thinking the area must not be safe to live. 

2. Buyers have been caught snooping.

A house showing is a time when buyers have the chance to inspect the property and see if it matches their needs and wants. It is common to open closets and even appliances that are remaining on the property to see space and sizing. In some cases, buyers have been caught looking in places they shouldn’t look. It is critical that buyers are aware of the security system before they enter the house so they understand their actions are being recorded. Not telling them could lead to further trouble later on and even impact negotiations with the seller.

3. Sellers reviewing home tours.

Some sellers are also using their smart security system to understand what potential buyers thought about their place or see what is happening during the showing. In one instance, a seller contacted her Realtor asking why cool air was being let outside because the door had been left open. This type of behavior is likely to cause buyers to move on to the next house. 

Selling a house with a smart home security system can be attractive to potential buyers, especially those who appreciate technology. Just be aware of the pitfalls and focus on how a smart home security system adds both convenience and an extra layer of protection.

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Callie McGill

Callie earned her B.A. in Advertising from Penn State University and her work on personal finance and housing related topics have been published on Yahoo! News, MSN, Mashvisor and more.

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