Electrical Upgrades to Boost Your Home Value
If you are considering selling your home, you will want to do everything you can to boost your home’s value. Not only will doing so improve your chances of selling your home more quickly but it will also ensure a better return on investment. As electricians, we are frequently asked which electrical upgrades make the biggest difference in boosting a home’s value. While there are many electrical upgrades you can make to improve the value of your home, focusing your efforts in the right places will maximize your return on investment.
Today, Right Electrical Services will be highlighting the electrical upgrades you should consider to make your home more valuable. With moving season right around the corner, now is the time to think about the upgrades that make a real difference. Get the most bang for your buck with these electrical upgrades to boost home value!
Truth or Myth: Do Electrical Upgrades Really Increase Property Value?
While there is no simple answer to this question, one fact remains true: some home electrical upgrades and repairs are essential when selling your home. If your home has any dangerous electrical issues, both home buyers and real estate agents will likely demand these problems be fixed before a sale can even take place.
While the impact that electrical upgrades can have on the value of your home may vary depending on the local market, certain electrical upgrades can help your home stand out to potential buyers. When considering electrical upgrades to improve the value of your home, focus on those that are cost-effective without requiring much of a long-term investment. This is the sweet spot when it comes to raising your home’s value. But where should you start?
Let’s talk about some of the best electrical upgrades you can make to raise the value of your home without breaking the bank.
Install a Backup Generator
Of the many electrical upgrades you can make to increase property value, installing a backup generator is one of the most surefire methods at your disposal. Having a backup generator installed in your home is sure to impress potential buyers because they offer greater peace of mind. After all, whenever a storm occurs, it can be next to impossible to predict the impact it will have on your home. With a backup generator, the family that buys your home will never have to fear that they’ll be left in the dark.
With a backup generator, the family that buys your home will be able to live comfortably even when a storm threatens to knock out the power. While many power outages last a full day at most, there are many instances where the power could be out for much longer. Depending on the type of generator you install, your generator can be relied on to power everything from the basics to the entire home in the event of a power outage. This is a huge selling point that your real estate agent can advertise when you put your home on the market.
As a Generac dealer, Right Electrical Services highly recommends installing a Generac generator to add to your home’s value. To learn more about what makes Generac generators the most trusted power solution, check out our recent post: 7 Reasons Why Generac Generators are the Most Wanted Power Solution.
Add Energy-Efficient Lighting
We live in an increasingly energy-conscious world. For this reason, you can bet that potential homebuyers will be looking for energy-efficient electrical upgrades when browsing your home. According to a report by the North Carolina Building Performance Association, homes meeting the energy-efficiency standard to be qualified as high-performance homes, saw a 6.7 percent net increase in sale price per square foot in the Triangle market alone. With these findings in mind, it is clear that doing anything you can to make your home more energy-efficient can pay off.
At Right Electrical Services, we recommend starting with energy-efficient lighting. After all, the average household dedicates an estimated 5 percent of its energy budget to lighting. Switching to energy-efficient lighting is also an electrical upgrade that can benefit you directly in the here and now. While saving a pretty penny on your energy costs, you can simultaneously increase the value of your home. To learn more about installing energy-efficient lighting in your home, check out our post on the subject: Energy-Efficient Lighting Options For Your Home.
Ceiling Fan Installation
When thinking about electrical upgrades that can increase home value, it is likely that installing ceiling fans wasn’t the first thing to come to your mind. While it may not seem as though ceiling fan installation can impact the value of your home, surprisingly, it does. Not only do ceiling fans increase comfort year-round but they also improve the efficiency of any home’s HVAC system.
Installing ceiling fans in your home add character and adding them to rooms such as bedrooms or living rooms can add to your home’s value almost immediately. For a step-by-step guide to installing ceiling fans in your home, check out our post, How to Install a Ceiling Fan: A Step-by-Step Guide.
The Power of Smart Home Features
According to an article from Realtor.com, homeowners can raise the value of their homes by up to 5 percent simply by adding smart features. For example, that’s around $15,000 extra on a $300,000 home. With smart features becoming increasingly common in new home construction, home appraisers are even beginning to factor in the value of smart home features. For this reason, it goes without saying that adding certain smart home features in your home can do wonders for boosting home value. But where should you start?
As it turns out, there is a slew of smart home features you can consider when making electrical upgrades in your home. From smart thermostats and smart smoke detectors to smart lighting and smart doorbells, the sky’s the limit when it comes to features you can add. While the range of return on investment can vary for each of these electrical upgrades, each of these smart features is certain to appeal to potential homebuyers that come to see your home.
Update Your Electrical Panel
When thinking about possible electrical upgrades to boost your home’s value, it’s crucial that you also think about which upgrades are absolutely essential. While there are a number of electrical upgrades that you can make which will add value to your home, there are others that are necessary for the safety of potential homebuyers. If your home is older, upgrading to a new electrical panel will not only add value to your home but ensure a greater degree of safety as well.
There are a slew of issues that outdated electrical panels are prone to including electrical short circuits as well as inadequate power supply. The older electrical panels existent in most old homes are not suited for the power demands of modern life. Not only will homebuyers be looking to see if the electrical panel in your home is up to date but they are also likely to look elsewhere entirely if yours isn’t updated. Of the many electrical upgrades you can make to boost the value of your home, an updated electrical panel is by far one of the most necessary.
Call Right Electrical Services For Any Necessary Electrical Upgrades Today!
As the Triangle’s best electricians, Right Electrical Services is on standby to help with any electrical upgrades you need. When planning to put your home on the market, it is crucial that you have thought about making the necessary electrical upgrades to boost your home’s value. With Right Electrical Services on your side, you can get the amount you deserve for your home!
Give us a call today at (919) 359-1017 or fill out a contact form to get in touch with us immediately! We’ll be happy to help.