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Home security systems - one of the most overlooked ways of increasing your home's value

Written by Posted On Wednesday, 02 October 2019 06:08

There are many psychological tricks and techniques you can use to make people ‘feel’ like your home is the right one for them. Fresh-baked bread, a certain ‘lived-in’ charm or fresh cut grass can all trigger emotional responses. But once the buyers have left the property, their rational minds will kick in and they’ll assess your property in a more pragmatic light. 

 

Aside from such staging tricks, vendors can and often do go to great and often quite expensive lengths to improve the value of their home before marketing it for sale. A new kitchen is an obvious one. And while it will add appeal, the increase in value to your home at the time of sale isn’t always commensurate with the cost, in terms of cash and time, of getting it installed.

 

Home security systems are a cheaper and potentially more effective way of moving the needle on appeal and even price. Here’s how:

 

Knowing your market

 

For the right buyer, a home security system can have an effect that marketers call ‘unlocking latent demand’. This refers to situations where people didn’t know they wanted something until they realised they could have it. Home security systems fit this bill. A couple with young children can happily live without a home security system, but when they visit a home that is clearly more secure than their own, they start making comparisons. Not all buyers will be susceptible to this, but many will see the enhanced security on offer and will not only compare it to their current home, but to any other properties they may be viewing.

 

The psychology of ‘add-ons’

 

Another psychological factor as play is the concept of ‘add-ons’. Home buyers have a very narrow set of expectations and priorities. For some it’s location, for others it’s space, for others it’s style or modernity and others it’s just price. Nobody really expects the home security system to be a key feature. But it is. And here’s why. It’s perceived as a bonus, or an add-on. And to borrow a phrase from the book of marketing cliches, it’s very much a benefit not a feature. A home security system isn’t simply a collection of cameras, microchips and wires. It’s security, peace of mind and that feeling that you’re doing everything you can to protect everything that you love. 

 

Collective peace of mind

According to research by security and surveillance specialists Online Spy Shop, home security systems can have a viral contagion effect. Neighbors naturally compete with one another and before you know it, the whole street has invested in high quality home security. This sort of ‘herd immunity’ lowers crime rates and crucially, improves neighborhoods.

Lower insurance costs

 

It’s an obvious one, but worth pointing out. The risk of property crime goes down in the presence of a home security system. It’s both a deterrent and a barrier. So of course, insurance companies love it.

What does it say about your home?

 

People who floss live longer. That’s a fact. It’s not because flossing does anything specific to promote longevity (although bad gum health is associated with shorter life expectancy), but because the types of people who floss are the same types of people who take their doctor’s advice, eat healthily and pay attention to their general wellbeing. It’s a classic case of correlation, not causation. 

 

This concept applies to all sorts of things, especially purchasing decisions. A potential buyer who notices that you’ve invested in home security is more likely in general to perceive you as a responsible and conscientious homeowner. Their mind will naturally encourage them to perceive your home as well cared-for. In the same way you’d perceive a car with custom upgrades to be well cared-for. 

 

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Curt S Pearson

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