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Owning a Ring video doorbell will soon be more affordable.

The makers of the popular smart home device announced Wednesday they are launching a version of the video doorbell for $59.99, making it the lowest-cost model available.

The Video Doorbell Wired will work with existing doorbell wiring, and will include most of the features of other Ring doorbells including HD , two-way audio, advanced motion detection and the ability to set privacy zones.

Users can control the doorbell using the Ring app. Owners can also subscribe to a monthly Ring plan for additional features such as a People Only Mode which will only alert you when human beings are detected.

"Video Doorbell Wired is a great and affordable option for those just getting started or looking to expand their Rings of security," said Jamie Siminoff, Ring's founder and chief inventor, in a statement.

The budget doorbell will start shipping on Feb. 24. Customers can pre-order the device on Ring's website or through Amazon, which owns the company.