Did you know an average of 44,880 home fires per year occurred because of electrical failure or malfunction? These caused an average of 1,250 civilian injuries and 440 fatalities each year.
It’s why it’s important to rewire a house whenever possible. However, many homeowners put it off because of the electrical rewiring cost.
A common question is how much does an electrical rewire house cost? It’s a hard question to answer because of the many factors. Keep on reading to learn more.
How Does Electrical Rewiring Cost?
The national average cost of electrical rewiring is around $2,000 for a 1,000-square foot home. This works out to $2 to $6 per square foot.
These prices include the cost of material and labor. However, prices could easily go up to $10,000 on the same house.
Note that rewiring is more expensive than wiring a new home. The average cost of wiring a new 1,000-square foot house is around $1,600 to $3,800 or around $2 to $4 per square foot.
It’s because rewiring involves more processes, like taking out the old wiring and others. With a new home, the walls are still open, making it easier to install wiring.
Factors Affecting the Price
The above prices only give you a faint idea of how much rewiring will cost. The actual cost of a full electrical rewire will vary depending on the considerations below.
1.Size of the House
The size of the house matters because this would dictate the amount of wiring necessary. A bigger house means more wiring and more old wiring to remove as well. Both add to the material and labor costs.
2. Age of Your Home
Older homes may have a higher electrical wiring cost because there is more to replace. Labor costs also go up because it’s harder to remove and install wiring in an old house.
The electrical wiring might be hard to reach, for instance. The electrician might also have to do some special techniques to preserve the integrity of an old home.
3. Rate of a Licensed Electrician
The specific electrician also factors into the total cost. They usually charge per hour, although they may also consider the size of the project. The bigger it is, the more likely to get a discount.
The national average is $70 to $100 per hour. Sounds expensive? Well, it’s something you must not skimp on.
Having a licensed electrician ensures it ends well and safely. They also ensure that the wiring is up to code.
The cost of services and materials necessary will depend on your location. For example, a licensed electrician charges more per hour in larger cities and higher-density areas.
5. Fittings, Fixtures, and Extras
On top of the wiring, do you also need to add new outlets, switches, and electrical circuits? Those would cost extra. The rewire electrical panel cost is an additional $1,000 at least.
Also, consider the costs of opening and repairing walls. If you must do these things, the total cost might double.
How to Save on Rewiring
As you can see, rewiring is an expensive project—but one you have no choice but to do as soon as possible. That said, you can still get some savings if you spend a little more time on it.
Here are some tips to save both money and time on a rewiring project:
1. Get an Inspection First
Do you need a total house rewiring? Or do you only need it for specific rooms?
Get a professional to inspect your home first. You might not need some of your planned repairs. Sometimes, all you need are minor repairs and your house is good to go.
2. Hire a Licensed Electrician
It might be tempting to DIY this project because it’s expensive to hire a licensed electrician. However, you won’t be saving money this way.
Although a DIY costs less in materials, consider the costs of things going wrong. There’s a reason why electricians must have a license before becoming eligible for business. They need the proper education and training to ensure the safety of the project.
One wrong move and your project might end in a fire or electrocution. There’s a risk of losing some of your properties, including your house, life, and the life of your household members. At best, you might incur more damages that cost more than hiring a professional in the first place.
Spending some cash to ensure your safety and the success of your project isn’t a bad thing. You’ll save more while having some peace of mind.
3. Compare Quotes
Don’t make a deal with the first electrician or company you reach out to. Take the time to research and get quotes from at least three different options. The more, the better since it’s easier to get the average.
You’ll likely get overpriced quotes and some super cheap ones. Choose something in the middle.
The cheapest is not always the most cost-effective option. It might result in an unsafe project due to their cost-cutting techniques. Always factor in the reputation and capability of the electrician to get the best deal.
4. Combine Projects
If possible, combine various electrical projects. Although you’ll be spending more at the start, you’ll save more in the long run.
For example, you might want to rewire your whole house instead of limiting your project to the basement. The assumption is that you need to rewire your house eventually.
Doing everything in one project nets more savings than doing them individually. Plus, it saves you from future hassle. If you have money to spare, consider a bigger project scope.
Be Smart in Rewiring Your Home
It’s understandable to want to save on the electrical rewiring cost. However, be smart in choosing the right electrician or company.
The right electrician can help you save on costs, ensure a successful project, and avoid future headaches. To learn more, visit our website today.