Budgeting: Are home security cameras worth it? Costs and what they cover
Are home security cameras worth it? They can be for peace of mind and deterring opportunistic crime, but subscriptions for cloud recordings add a yearly cost, and in a worked example two cameras cost about 230 in the first year.
By Wealtie Team · 3 min read
Key takeaways
- Home security cameras can be worth it for peace of mind and deterring crime.
- In a worked example, two cameras cost about 230 in the first year.
- Subscriptions for cloud recordings are an ongoing cost.
- Good locks and lighting often matter as much as cameras.
Are home security cameras worth it?
They can be, depending on what you want from them. Visible cameras can put off opportunistic thieves, let you check on your home while you're away and record evidence if something does happen. Doorbell cameras let you see who's at the door and speak to delivery drivers. For many people, the main benefit is peace of mind. The costs are the cameras themselves, any installation, and often a subscription to store recordings in the cloud.
They're not a replacement for basic security. Good locks on doors and windows, outdoor lighting and not leaving valuables on show often do as much to keep a home safe.
Before buying, think about what you'd do with the footage. If you mainly want to see who's at the door, a doorbell camera may be all you need. If you want to watch a driveway or back garden, outdoor cameras make more sense. Matching cameras to a clear purpose stops you buying more than you'll use.
It's also worth thinking about how you'll respond to alerts. Cameras that send a notification every time a car passes or a cat crosses the garden can become annoying, and many people end up ignoring them. Adjusting motion zones and sensitivity helps, as does choosing cameras that can tell the difference between people, vehicles and animals. A system you check regularly is worth far more than one that fills your phone with alerts you swipe away. Talking to neighbours about where your cameras point can also avoid misunderstandings.
What do home security cameras cost?
Here's a worked example of the first year with two cameras, in round numbers that work in any currency:
| Item | First year |
|---|---|
| Two cameras | 150 |
| Cloud recording subscription | 50 |
| Mounts, cables and extras | 30 |
| Total | 230 |
After the first year, the ongoing cost is mainly the subscription, about 50 a year in this example. Choosing cameras that store recordings locally, on a memory card or home hub, can avoid the subscription.
What are the main costs?
Cameras
Prices range from cheap indoor cameras to weatherproof outdoor ones with night vision and better image quality. Doorbell cameras are a popular starting point, since they cover the most common reason people come to your door and replace a normal doorbell.
Subscriptions
Many cameras need a monthly or yearly subscription to save recordings, see past clips or turn on extra features. Some work without one but offer only live viewing. Check what's included before buying, and add the subscription to the true cost. How to cut subscription costs helps you keep track.
Installation
Battery cameras are easy to fit yourself, usually with a few screws and an app to set them up. Wired cameras may need an electrician, which adds cost.
Batteries and power
Battery cameras need recharging or new batteries. Wired ones use a small amount of electricity, so they never need charging, but they need a power point or cable route nearby.
What should you check before buying?
Check whether the camera works without a subscription, where recordings are stored and who can access them. Make sure it works with your phone and home internet, and that your Wi-Fi reaches the spot where the camera will go, since a weak signal means missed recordings. Think about privacy: in many places, there are rules about filming beyond your own property, such as a neighbour's garden or the street. Point cameras at your own home and tell visitors if needed. Secure the account with a strong password to stop others accessing your cameras.
Can cameras lower your insurance?
Sometimes, but not always. Some insurers offer discounts for security measures, more often for approved locks and alarms than for cameras. Ask your insurer before buying. How to save money on home insurance covers other ways to lower your premium.
How can you get security cameras for less?
Start with one camera, like a doorbell camera, and add more if you need them. Choose cameras with local storage to avoid subscriptions. Buy last year's model or wait for sales. Use cheap measures first: good locks, outdoor lights with motion sensors and timers for indoor lights when you're away. How to save money on electronics has more tips, and cost per use helps you decide whether a camera earns its place.
How do you track security costs in Wealtie?
Add camera subscriptions as recurring transactions, so they log themselves on their date and you can see the yearly cost. Keep home security in its own expense category with a budget.
Questions people ask
They can be for peace of mind and deterring opportunistic crime. In a worked example, two cameras cost about 230 in the first year.
Many do for saving recordings. Cameras with local storage can avoid the subscription.
Sometimes, but insurers more often give discounts for approved locks and alarms. Ask your insurer first.
Whether it needs a subscription, where recordings are stored, privacy rules about filming beyond your property and account security.
This article is general information, not financial, tax or legal advice. Your situation is your own; check the numbers that apply to you before you act on them.
