Is Rewiring my Home a Smart Investment?
As you may know, many of the flats and houses found in and around Sydney’s Eastern suburbs haven’t had their wiring replaced in 50 years or more. Some of these homes may even have their original wiring. While it might seem like everything is functioning fine, homeowners and landlords should be aware that wiring this old is putting their families or their tenants at great risk.
The primary concern of old or faulty wiring is the risk of fire. All it takes is one spark from a frayed wire to make contact with something dry, and a catastrophe could occur. If not fire, owners of homes with very old wiring should be aware that electrical shocks can become very real risks. This is especially true for those of us with small and curious young children.
It’s true that having a home or flat rewired can be a major undertaking, but owners should keep in mind that a rewiring project isn’t just a smart investment for safety purposes. Once the rewiring is complete, the value of the property will have risen dramatically, so it may be an especially important decision for those who are considering selling their real estate. Having new wiring in the home or flat means that this is one less concern for potential buyers, and might make the difference between a successful sale or losing the buyer to nearby competition.
Landlords may want to take special consideration to the idea of having their properties wiring redone up to date. Not only could this prevent legal action from tenants in the event of an accident, but will allow the owner to ensure that their real estate is up to code. Offering an up to date and safe residence might be just the thing to acquire new tenants in the future.
Homeowners who are considering having their property rewired have several options at their disposal in order to save money and ensure that the job is done right. Firstly, homeowners should thoroughly investigate the electricians in their area and make sure to hire the most highly regarded provider for the job. In some cases, this might mean paying a bit higher rate than other companies might offer, but it will pay off in the long run. You don’t want to experience the nightmare of hiring a cheap or incompetent electrician to do the job, which will ultimately cost far more money than if you had hired the best available.
