Home, Land, Property Buying and Selling - Return on investment - electrical upgrades

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Stumped1
06-04-09, 11:34 AM
What is the return on investment for electrical upgrades?

Getting some crazy quotes for upgrading our electrical from knob & tube wiring. I don't mind doing this if there's a decent ROI.

Thanks.

Gunguy45
06-04-09, 11:51 AM
Just a laymans opinion....

I don't think you will see any real return, as in a higher selling price when it comes time to sell. I think it will be more of a safety, convenience and appeal to buyers thing. Its kinda like saying a house has all insulated exterior doors or double pane windows...it's almost an expected thing nowadays.

Now if its a hundred year old Victorian that has been upgraded over any similar houses in the area that are for sale at the same time..of course yours will have more appeal. Just like upgraded bathrooms and kitchens...but less visible.

To have any appeal, you would need to keep careful records of permits, work performed, and inpections.

Again..just my opinion