You can get the same system, with a traditional monitor screen that’s slightly smaller at 4.3 inches, for cheaper. If you’re interested in having two zoom cameras or an app that lets you see your baby while away, Project Nursery offers those configurations as well. You can also record video and take photos with it as well (requires an SD card sold separately).

Your phone might not have great battery life. Many parents who use a wifi baby monitor come to the realization that their smart phone battery life isn't so great when they are streaming a live video and audio feed from their baby monitor. If you have a newer iPhone or Android device, it will probably do pretty well, but if you have an older phone the batter is probably a bit weaker already and you will notice your battery life dropping pretty quickly during use. So definitely consider battery life and charging options for your smart phone when you are choosing between a self-contained versus wifi baby monitor. 
This option doesn't have sound activation, so there is has some noise all the time similar to white noise. This sound may not be a deal breaker if it comes from a fan or noise maker in baby's room and some parents may even find the sound helpful for sleeping or reassuring them that the unit is working. The DM111 is an excellent choice for families on a budget who want to hear the baby and don't need all the frills commonly found in more expensive choices.
It really depends on what you feel most comfortable with. There are audio monitors that allow you to listen to any noise coming from the nursery, vital monitors that track sleep and breathing and video monitors that add sight to sound. Babylist parents overwhelmingly choose video monitors. The security of seeing what your child is up to—like if they’ve gotten tangled in their swaddle, pulled their diaper off or climbed out of the crib—can be worth the extra cost of a video monitor.
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