Are You Looking At Purchasing Your First Home?
It’s an exciting time, as you’ve just entered into the wonderful world of purchasing your first home! Your first home purchase, usually means you are on a fixed budget, as well. It’s normal to encounter outdated or inferior electrical work in older homes. Depending on the age of the electrical system, it could be a fire hazard and often not inexpensive to repair and upgrade, either. We’ve taken time in this month’s blog to give you a brief rundown on what to look for with older home wiring. As usual, if you have questions or need an expert, we’re here to help!
Knob and tube wiring found in older homes can be very expensive to replace. These older electrical systems were not designed to keep up with the amount of electricity necessary for today’s technology advancements and home load demands. If you and your family use a variety of electronics, you will want to make sure that the home you are buying meets your electrical needs. One of the biggest concerns with older electrical systems for new homeowners is that some insurance companies may refuse to write an insurance policy on homes with knob and tube systems still in place. They may require the knob and tube wiring to be updated or certified as safe by a licensed electrician.
When looking at homes, also make sure to check the fuse box to ensure it is in good working condition and also sufficient for the home’s electrical load expectations. Pay attention as you or your inspector walk the home for any exposed or fraying wires and wires that do not lead anywhere. Also pay attention to outlets and dated lighting. If you are concerned there could be potential problems, have an electrician inspect the home. Bottom line, do your due diligence ahead of any home purchase. Electrical repairs for outdated systems could range anywhere from $300 to $20,000 and if you catch them early, you may even be able to negotiate all or some of the updates into your purchase agreement. Happy house hunting!