Budgeting For Electrical Upgrades

Rewiring a house is expensive, but it’s an essential home improvement. Upgrading to new wiring can help reduce the risk of fire and electrical damage, as well as ensure that your home meets current safety standards.

According to estimates from Cost Helper, Thumbtack, and Home Guide, rewiring a home costs about $10,000 on average. The exact amount you’ll pay will depend on several factors, including the size of your home and the cost of materials.

Cost of Materials

Getting an accurate price quote for electrical services upgrade costs depends on a number of variables. You should get a number of quotes from reliable local electrical companies before you decide to proceed with a project.

Older homes, especially those built in the 1950s, require rewiring to meet modern electrical codes. Flickering lights, blown fuses and ungrounded outlets are all warning signs that the wiring needs to be replaced. Often, older houses have 60-amp systems that aren’t sufficient to power today’s electronics and appliances.

The number of rooms and circuits in a home increases the overall cost of rewiring the house. Also, the quality of materials used adds to the total cost. For example, high-end outlets and switches cost more than standard ones. Finally, the ability to access old wires in a house’s walls impacts the total cost of rewiring. Having a basement, attic or crawl space makes it easier to fish new wires through the drywall. Without these spaces, the electrician must open walls and ceilings, adding to the total cost of rewiring.

Cost of Labor

A home rewire usually requires the work of a licensed electrician. The hourly rate charged for electrical rewiring can have a significant impact on the overall cost of the project, reports Angi. A general rule of thumb is that rewiring will cost between $6 and $10 per square foot of living space for labor and materials.

An old house with lath-and-plaster walls or other restrictive construction can make the wiring more difficult to access, which will raise the labor costs of a rewire. Also, if the existing panel is still using fuses rather than breakers it may need to be replaced, adding to the total cost of the rewire.

You may need to repair drywall as well, which adds to the overall rewiring cost. Additionally, you will probably want to upgrade your switches and outlets, which adds to the cost. You will also need to pay for any necessary permits and inspections, which vary by location.

Cost of Permits and Inspections

The cost of permitting and inspection is a factor that adds to the total price of rewiring a house. Local laws require these to ensure that the wiring complies with current standards, and this helps ensure the safety of a home’s occupants.

HomeGuide estimates that this expense can range from $150 to $400, depending on the locale and the extent of the rewiring. The size of a house is another factor that influences costs; larger houses need more wire and typically require a full rewire, while smaller homes can get by with a simpler job. Older houses with lath-and-plaster walls pose additional challenges for fishing new wires, adding to the overall project cost.

If a professional has access to the basement, attic, or crawl space, they can often install new wiring without opening the walls at all. They may run the main wires between floor joists or attic rafters and then fish them into wall studs to switch and outlet boxes. This option saves the expense of repairing and repainting walls.

Cost of Opening Walls

Rewiring a house can seem costly, but it’s an investment that improves home value and helps prevent fires. If the circuit breakers trip frequently, light switches feel warm to the touch or there is a burning smell in your home, it’s time to call an electrician for an estimate.

Older homes with lath-and-plaster walls can be more challenging for electricians to fish wires through, increasing the cost of rewiring. You may also need to budget for drywall repair and repainting.

You can minimize rewiring costs by doing it in stages. If possible, have an electrician rewire one room at a time while staying in another residence. That way, you can avoid the cost of renting or buying temporary lodging. You can also finance the project with an unsecured personal loan. Learn about these loans and compare offers from multiple lenders. You may qualify for a higher loan amount if you have a solid credit score.