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Best wired security camera systems 2024
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With housing costs high and increasing, it’s arguably more important than ever to protect what could be your biggest investment — your home — with a home security system. Yet with inflation continuing to put pressure on many Americans’ finances, it’s also understandable that you would want to be even more diligent in choosing the best home security systems for 2024.
Advances in technology have made high-powered home security cameras and related equipment widely available and easy to use. But while some homeowners have fully embraced newer technologies, like wireless home security systems, that connect to your Wi-Fi, others still prefer wired security systems that can connect directly to your home’s electrical system or landline.
That said, many modern systems operate primarily wirelessly but still have some wired options, such as systems that connect to your existing doorbell system. And, choosing the best wired security camera systems depends on factors such as your budget, comfort with different technologies and the flexibility that you may be looking for. In other words, determining the best home security systems is somewhat subjective, but it can help to break down this issue across more specific categories.
Compare your top home security system options online here.
Best wired security camera systems 2024
According to our analysis, the best home security companies in 2024 that offer a mix of wireless and wired security camera options include the following:
Best for setup: ADT
ADT stands out as one of the stalwarts of the home security market, offering a mix of wired and wireless options and modern products like cameras from Google Nest.
If you’re looking for the best wired security camera systems in terms of setup, consider leaving it to the pros at ADT. Although professional installation can increase costs, it can bring you peace of mind knowing that everything is handled by someone experienced at setting these systems up. That said, ADT also offers a self-setup option if you prefer.
Start by getting a quote from ADT online now.
Best for no contracts: SimpliSafe
One downside of some legacy home security providers is that you have to commit to lengthy contracts. But that’s not the case with SimpliSafe. This is one of the more affordable home security companies that you can use without any contracts. You can simply buy the equipment you need and add professional monitoring if you’d like, though there’s no obligation to do so.
While SimpliSafe is more of a wireless security camera provider, it does offer wired options such as connecting a video doorbell camera to your existing doorbell chime.
Best for smart homes: Vivint
One downside of some legacy home security providers is that you have to commit to lengthy contracts. But that’s not the case with SimpliSafe. This is one of the more affordable home security companies that you can use without any contracts. You can simply buy the equipment you need and add professional monitoring if you’d like, though there’s no obligation to do so.
While SimpliSafe is more of a wireless security camera provider, it does offer wired options such as connecting a video doorbell camera to your existing doorbell chime.
Compare home security systems from Vivint and learn more about your options now.
Best for add-ons, perks: Ring
Ring, owned by Amazon, is famous for its video doorbell cameras that can be hardwired into your existing doorbell system or used wirelessly. Either way, Ring stands out for offering a wide range of add-ons.
For example, Ring offers accessories like solar path lights that can sync with certain Ring doorbells and cameras. Ring also sells pet tags that come with a custom QR code that others can scan to access information if they find your missing pet, and you can manage your pet’s profile within the Ring app. Another perk is that Amazon Prime members might be able to snag some discounts on Ring gear during certain sales, like Amazon Prime Day.
Best for cost: Cove
Cove is one of the best home security system companies, selling security cameras from Eufy at some of the most competitive prices. The Eufy Doorbell Camera can be wired into your existing doorbell system so you don’t have to worry about charging, or you can opt for the wireless option. Other options include wireless outdoor cameras powered by solar, as well as indoor cameras that have wired power adaptors but can then connect wirelessly to the overall system.
To save money, Cove can typically be set up yourself, but the company does offer professional installation for those who prefer going that route. Also, Cove offers professional monitoring starting at $17.99 per month, with no contracts.
Start comparing your top Cove home security system options here.
Best for reviews: CPI Security
Reviews can be a little tricky with some services, as sometimes you mainly hear from those who had a poor experience, so that might drag down the average of some companies. That said, if going off of reviews from TrustPilot, then CPI Security stands out in this space as being the best home security system, with a 4.7 out of 5 rating, based on over 2,000 reviews.
The bottom line
There are many great options to choose from when selecting the best home security systems, and a lot of it comes down to personal preference. The good news is that there are different options to fit your circumstances, such as if you’re looking for a budget-friendly option without professional monitoring or want a more robust, professional system to protect a large home. Some providers offer free trials, which could be helpful when making your decision, and you also might want to ask neighbors what they use to get some first-hand insights.
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Record-high inflation in the post-pandemic era has been challenging for many Americans, but retirees often face added struggles as prices rise since many are on a fixed income. That’s why it comes as no surprise that 59% of retirees expressed concerns about their financial security, according to a survey conducted by MedicareFAQ.
The good news is that many seniors have a significant source of funds to draw from in their home equity. In fact, for seniors 65 and over, the median value of their home equity is $250,000. That’s a 47% increase in the value of equity since before the pandemic.
Older Americans who need extra funds can tap this equity to help make ends meet, and they have different ways to do it including a home equity loan and a reverse mortgage. There are important differences between home equity loans vs. reverse mortgages, though, so retirees must do more than just compare today’s home equity interest rates to decide which is best.
This guide will help you understand when a reverse mortgage makes sense and when you should opt for a home equity loan instead.
Find out more about your home equity loan options here.
When a reverse mortgage is better for seniors
Reverse mortgages use your home as collateral, just as traditional mortgage loans do — but they work very differently. That’s because you don’t send in monthly payments with a reverse mortgage. Instead, your lender sends money to you and your loan balance grows each month. When you pass away or move, the reverse mortgage must be paid back.
“A reverse mortgage is intended for borrowers over age 62 that are not able to afford their monthly payments using their current retirement income and need additional income to help with their responsibilities,” says Lisa Gaffikin, a home loan specialist at Churchill Mortgage.
Gaffikin says that if you have limited income, you may not qualify for a traditional home equity loan but a reverse mortgage could be an option. You’ll get to stay in your home without adding to your monthly obligations, while also being able to supplement your current income.
You do need to have sufficient equity in your home though, and will need to follow requirements including continuing to maintain the property over time.
“Reverse mortgages are ideal for seniors who are house-rich but cash-poor,” says Josh Lewis, a certified mortgage consultant and host of The Educated Homebuyer.
Lewis also addressed a common concern seniors have about reverse mortgages: the ability to leave property to loved ones when you pass away, which could be impacted by the fact the loan must be paid upon your death.
“There’s a misconception that you won’t have a home to leave to your heirs but that is not true,” Lewis says. “You’ll have a home, but the equity your heirs inherit will depend on how long you live and how your home appreciates over time. It’s truly no different than inheriting a home with a traditional mortgage, except the loan balance will need to be paid off through a refinance or sale within six to 12 months of the homeowner’s passing.”
Learn about how a home equity loan could benefit you today.
When a home equity loan is better for seniors
Home equity loans work differently than reverse mortgages. You’ll still need equity and must use your home as collateral, but you receive the borrowed funds upfront when you take out the loan and you must start making payments on the debt immediately.
“Home equity loans are ideal when you need a lump sum and can handle monthly payments,” Lewis says. “With lower upfront costs and typically lower interest rates, they’re perfect if you want to keep building equity and might sell or pass on your home soon. This option works well for those with a steady income who are looking to borrow for a specific purpose.”
The key thing to remember, though, is that you must qualify by showing the lender you have enough money to afford the loan payments and you must be able to make those payments for the duration of the loan term. This isn’t always easy when you need extra cash.
“A home equity loan might be a better option if the homeowner is not struggling to make current payments and only needs equity from the home to consolidate non-property debts or to lower monthly expenses for liabilities with higher interest rates,” Gaffikin says. “If the borrower is comfortable with their housing expenses and can make the current housing-related payments and the new home equity loan payment, a home equity loan might very well be the best choice.”
Gaffikin recommends looking at your full financial picture and considering the long-term implications of your decision when deciding which is right for you.
The bottom line
Ultimately, if you want to access equity with no monthly payments and are OK with leaving less equity to your heirs, a reverse mortgage is likely the better option and you should shop carefully to find the best reverse mortgage companies to minimize interest and fees. If you’d rather pay back your loan during your lifetime and can afford it, a HELOC is the better choice.
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