When planning to get involved in real estate, it makes sense to focus on property improvements that could add true value to the real estate in some way. It’s fairly well known that your home’s market value is determined by a variety of factors. Many of these factors include the size of your house, location, age and more. And while having a security system might not directly affect the market value of your home, it will definitely increase your home’s intrinsic value. Read on to discover how and why that may be the case.
Features That Convey with the Property
A security system is not typically something that is removed from the property when a new tenant moves in or when you sell the property. Door sensors, window alarms, security cameras, automated lights, and more all become fixtures to the property. A new tenant may find value in a property that already has a security or alarm system installed if you are planning to sell, especially if the security system is comprehensive (meaning it’s got more of the bells and whistles). This could put you at a strategic advantage when you are trying to find a new homeowner or tenant, and a new tenant may even agree to pay a slightly higher monthly rate as a result of this feature.
An Improved Sense of Confidence and Security
A security or alarm system may also be connected to a flood alarm, a smoke detector, a carbon monoxide monitor, and other similar features. They can also be made mobile and therefore more convenient. Regardless of how seemingly safe a community may be, property owners all face a long list of potential dangers. An advanced security or alarm system that can identify perils and alert the property’s occupant and authorities can create peace of mind and instill a sense of confidence and well-being. Peace of mind is something that you may find difficult to attach monetary value to, but it nonetheless can be a valuable addition to the property.
As you prepare to make upgrades and improvements to your property, it may be helpful to find a security or alarm system that has robust and comprehensive features that may be appealing to your future tenants or homeowners. By doing so, you can build up the intrinsic value of your home for all potential buyers to come.
