INCREASING THE VALUE OF YOUR HOME WITH ELECTRICAL UPGRADES
Have you ever had the cause to want to buy or sell a house? Houses in Biloxi and many other parts of the United States are valued based on many factors. Real estate veterans agree to the fact that major factors like location, home type, economic significance, and many other factors determine the price of a home.
Upgrades in some parts of a home can also shoot up its worth, homeowners who are looking to sell a home and want to upgrade it usually focus around the kitchen, bathrooms, or “curb appeal.” However, there are many other types of upgrades that can also raise the value. One crucial factor people tend to ignore is the electrical configuration of the home.
Electricians are often called in to make those upgrades. When invited to do this, they are clearly told the reason why they are being hired; that is, to enhance the value of the home via an electrical upgrade. Once given this information, these technicians know what to do precisely. To this end, we will be taking a look at the areas that matter in the electrical upgrade of a home from the perspective of an electrician.
Switches and outlets
Carrying out an electrical upgrade of your home doesn’t mean you have to spend hugely on every aspect of the project. Replacing the switches and outlets is one of the cheapest moves to make while carrying out an upgrade of this nature.
When all you have on your switch pots are old, crusty, painted over switches and receptacles, it will be clear to see that the house is quite old. No client would notice that and would be impressed. Rather, they would see it as a pointer to the fact that the house shouldn’t be worth much. Interestingly, replacing these old devices with new models is not so expensive. It is amazing to see how this financially lightweight move can help make an old home look new.
That is not all. This move will help give an overall modern-day look, especially when newer style switches are used. Of course, you also benefit from a safer electrical system, GFCI protection, and tamper-proof outlets for child safety. A buyer coming in with his wife and kids will definitely be impressed with this.
Electrical panel and service
This is another aspect whereby electronic technicians focus on when they are on a mission to give a home an electrical upgrade. Electrical panels and services can drastically change the value of your house is the electrical panel and service. If the breaker or fuse panel is quite old and small in terms of electrical service, contractors usually single them out for change in the case of a general upgrade. Even potential homeowners pay attention to details do notice this. They might not mention it when inspecting, but you can be sure it is going to have a bearing on their impression of the home.
To be on the safe side, make sure a house should have a 200 amp service. This is usually a requirement on the inspection report of real estate agents in recent times. If it happens that you have an older panel, the electrical technician will single it out for a replacement, especially if it’s the Federal Pacific or Zinsco brand. It seems these brands are now old and out of demand. You never know the importance of electrical panels and service until you are about to apply for insurance, and you are declined a deal because you are found wanting with respect to this.
It is not uncommon for insurance companies of homeowners to refuse to cover a newly bought house if it has an FPE panel in it. Smart prospective buyers make use of deficiencies of this nature to cut down on the cost of a home. On noticing an old electric panel, they are likely to put a phone call through to an electrical technician, telling him about a cited panel or 200 amp service upgrade in a house they are looking to purchase. Then, they go further to ask about the cost estimate if they want to carry out an upgrade.
Oftentimes, the sellers will make the concession due to wanting to sell the house since they are already in contract negotiations with that buyer, and it wouldn’t make sense to commence renovation after an agreement for a fee must have been reached.
If you are the one selling, then you see obviously, you shouldn’t wait till the sales stage before making this move? Either way, buyers are going to pay for the upgrade. However, the payment is more likely to benefit you when you allow the money to flow through you. This you do by carrying out this upgrade before the sales. If you prove to be a person of integrity, you will be guaranteeing their safety by putting up a quality replacement of switches, panels, electrical panels, and services; thereby giving them something to enjoy in the next few years.
When I have a customer say “I was thinking about upgrading this electrical panel, but I may be selling the house in a few years” I always tell them that they are going to pay for the upgrade either way. The only difference is if they pay for it now, they will live in a safer home for the next few years, and not have to deal with negotiations during the sale of the house.
If you are the one buying, you can also make use of the tactics above to your advantage. Old electric appliances give you a bigger room for negotiation, anything that can make your house safer is a good idea, the added benefit that it will add to the house will make it more valuable or easier to sell is if you ever want to dispose of the property in the future.
Buying and selling never go out of season in Biloxi. Make sure your electrical game is tight for the best deals. You can always hire an electric technician for this purpose.