I just installed a simplisafe system a couple months ago. Went with a custom build rather than the stock setup. I wanted all motion detectors and nothing else. Way too many windows and doors at my house to cover them all. Was nice having that level of customization. Came out to around $250.-.
Install is stupid simple. Monitoring is inexpensive, like $20.- mo. No false alarms yet. So far so good.
Might not be the most secure of systems but I'm happy with it. The security literature indicates simplisafe systems have some vulnerabilities. The type of thieves we have around here are probably too stupid/high to know what they are. If you are trying to protect high dollar valuables remember you get what you pay for.
Some things about me:
My family ran a home alarm company for nearly 20 years. I managed the company for 5 years when my dad retired due to medical issues, my brother and I sold it a few years ago and my parents now live comfortably off of the interest of that sale.
Some things about home alarms:
All home alarm systems have vulnerabilities. We are not talking about the sort of system they guard banks with. These systems are intended to be a cheap deterrent, not turn your house into Fort Knox. They will not stop a professional team, but then again if you are likely to be targeted by a professional team you should be hiring armed guards. Most robberies are done by opportunists, not professionals. And unless there is a specific reason why your house is a target either will move on when faced with an alarm.
The most important part of an alarm system is the siren. No alarm can keep someone from breaking in, only make them rethink their decision once they do.
For the most part you want motion detectors to cover main entrances, high price electronics, and hallways, door sensors for the main exterior doors. Window sensors are too expensive to put on every window. IMHO even the door sensors are optional. You can cover a door along with half a room with a motion sensor. In fact that is their best use. They are really good at detecting a door moving.
Monitoring is much less important than the company wants you to think. It is rare that the monitoring will make any difference at all. If the alarm goes off the people will grab what they can and run, the cops get there long after they are gone. Now having said that fire alarm monitoring is something that can actually make a difference.
If you are going to have your house monitored add monitored fire alarms and have the fire alarms trigger tied into the main high DB siren.