Are you searching for ways to increase the value of your home? If so, you should consider upgrading your electrical system. While you won't recoup your entire investment in all electrical upgrades, hiring an electrician for any of the things on this list can be worth it.

New Electrical Service Panel

Replacing an outdated electrical service panel is one electrical upgrade that will almost always pay off. Commonly referred to as a breaker box, the electrical service panel is the central hub of your entire electrical system. Not only does it work to channel electricity wherever it's needed, but it also helps reduce the risk of issues like electrical fires. That's because the breakers monitor the current flowing through the circuit they control so that they can trip in case of an overload. If this didn't happen, you could have overheated wiring that catches fire. Older electrical panels are often a safety hazard since they can develop issues that can potentially start a fire or even lead to shocks or electrocution. The fact that there's a much higher risk of an electrical fire occurring if a house has an old, outdated electrical panel is why many homeowners insurance companies provide discounts or incentives when upgrading to a new panel. Some insurance companies may even require upgrading older panels, particularly from brands like Federal Pacific or Zinsco, due to their known safety risks. If you're considering putting your home up for sale and your electrical panel is over 20-25 years old, you'll usually get a better price if you replace the panel before listing your home. Part of the reason is that it will give prospective buyers peace of mind, knowing the house's electrical system is safer. They will also know they don't need to worry about paying for a panel replacement for quite some time.

Updated Wiring

When evaluating a home for sale, one of the first things virtually any prospective buyer will want to know is the electrical system's condition. The biggest concern regarding a home's electrical system is whether much or all of the wiring is outdated. Issues like aluminum wiring or old and deteriorated wiring can significantly reduce a home's value because they increase the risk of fires and other potential safety hazards. While having to rewire some or all of a house won't put off every prospective buyer, it will almost certainly result in you receiving a much lower price. That's because the home inspector will let the buyer know approximately how much it will cost to upgrade and redo the wiring, and the buyer will then likely want to negotiate to get some or all of these costs taken out of the final price. Additionally, certain outdated wiring systems, like knob-and-tube wiring, can be flagged as a safety issue, further reducing buyer interest. Depending on the type of loan the buyer is using, you may also be required to put some of the money for the upgrades into escrow as a condition for closing on the house.

GFCI and AFCI Installation

The National Electric Code (NEC) is constantly changing and being updated. As a result, houses built even a decade or two ago typically have a variety of components in their electrical system that don't meet the current code requirements. NEC requirements are permanently grandfathered in. That means you aren't required to update your electrical system whenever the code changes unless you're renovating your house or making extensive changes to your electrical system, such as replacing your electrical panel. Nonetheless, any parts of your outdated electrical system that don't meet the current code will usually lead to at least a slight decrease in your home's value. AFCI breakers are designed to trip in case of an arc fault when electricity jumps between wires and produces sparks. This type of fault usually occurs due to a wire being damaged, such as putting a nail or screw through it when hanging something on the wall. The main risk with an arc fault is that its sparks can easily catch insulation, wall studs, and any other nearby building materials on fire. The NEC now requires AFCI breakers on all 120-volt circuits in a living area, meaning the majority of the circuits within a home. However, enforcement of these requirements can vary by local jurisdiction, so consulting with one of our licensed electricians familiar with your area's codes is essential. GFCI outlets reduce the chances of electrocution due to a ground fault. This is when the electricity escapes a circuit because it can take an easier path that allows it to flow directly into the ground. Ground faults commonly occur due to water coming into contact with electrical wiring or a live wire touching a metal object. The concern with a ground fault is that the electricity can flow out of an outlet or electrical device and then across a person's body on its way to the ground, resulting in fatal electrocution or at least a severe shock. The high potential for ground faults to occur is why the NEC requires GFCI outlets outdoors, along with every power receptacle in a basement, garage, kitchen, bathroom, laundry room, and utility room.

Whole-Home Surge Protection

Whether or not you think you may sell your home, installing a whole-home surge protector is always a great investment. Surge protector strips aren't sufficient to prevent damage in case of an electrical surge from a blown transformer or lightning strike. Even if a surge strip protected everything plugged into it (which is extremely unlikely), this type of power surge will almost certainly significantly damage much of your electrical system. This is where a whole-home surge protector is extremely useful since it will instantly redirect the surge outside into your electrical grounding rod so that you don't end up with thousands of volts flowing into your electrical system.

Level 2 EV Charging Station

The popularity of hybrid and fully electric vehicles continues to grow year by year, leading to more and more homeowners installing a Level 2 home EV charging station. Real estate statistics show that homes with a plug-in or hard-wired 240-volt EV charging station sell for more than similar homes in the area without one. The value an EV charging station can add to a house is often much more than the installation cost.

Smart Home Technology

Smart home technology has reached the point where it's now present in nearly half of American homes in some form or another. Upgrading to things like a smart thermostat or smart lighting is a great way to improve energy efficiency and reduce your home's energy bills. Smart lighting, video cameras, garage door openers, and door sensors are great ways to improve home security. Most of these things are relatively quick and straightforward for an electrician to install, making them an inexpensive way to increase your home's value and appeal should you decide to sell. If you need to replace your electrical panel or want to upgrade your electrical system, you can trust the experts at Mister Sparky®. We have a dedicated team of professional electricians with the knowledge and experience to ensure your project is handled safely. With our StraightForward Pricing®, you can be confident you'll get a fair price with no hidden costs, no matter what service you need. We stand by our work and will do whatever it takes to ensure you're 100% satisfied. Call us for the best service and support, whether it's an installation, upgrade, or any repairs.