As real estate markets heat up with more millennials looking to buy, now might seem like a good time to sell your home. But not every market is experiencing the same increase in list prices. For cooler markets like Vancouver, making the right improvements can do a lot to make your home appeal to potential buyers. Even in markets that have generally been better for home sales, such as Toronto and Eastern Canada, upgrades and renovations can help you stand out even more, helping you sell your home faster.
One area where homeowners and real estate experts consistently find great value is with electrical upgrades. Some upgrades are crucial for keeping your home up to code and preventing issues in selling your home, while others evoke feelings of luxury, modernity and energy efficiency that buyers are seeking. At TCA Electric, we’ve helped hundreds of homeowners get the most out of their home sales by installing key electrical upgrades. So, whether you’re planning to list or reappraise your home within a few months, or if you’re thinking years into the future, here is a complete guide to electrical upgrades you should keep in mind if you want to maximize the value of your home!
Safety and maintenance upgrades
Sometimes the best defense is a good offense, and that’s especially true when it comes to electrical upgrades. Nothing turns potential buyers off quicker than unsafe flaws or outdated electrical systems. Be sure to shore these areas up before listing your home!
Upgrade your electrical service (to 200 amps)
For newly built homes, the standard capacity of an electrical panel is 200 amps, but older homes may still depend on a 100-amp panel. This is becoming more of a drawback every year as homeowners are using more and more electricity every day. Further, electrical wiring is closely scrutinized during a home inspection. If your home’s electrical service is still at 100 amps, asking an experienced electrician about upgrading your service should be step number one before listing your home or having it reappraised.
Surge protection and electrical panel upgrade
As the weather cools down, the chance of a winter storm causing a devastating electrical surge increases dramatically. Protecting your home with a full surge protector, at the main electrical point of energy, not only looks good to safety-conscious buyers, but also helps keep your family and electronics protected.
Along these lines, you should also look into whether it’s a good idea to upgrade your electrical panel. While this will be standard procedure if you need to upgrade your service, it still may be useful if you don’t as these panels become damaged or outdated over time. In addition, if your home still has a fuse box installed, updating this to a circuit breaker is a smart electrical upgrade that’s all but required to make your home viable on the market. Talk to your local electrician to see if your home’s electrical panel needs upgrading.
Add a backup generator
As another safety feature for your home’s electrical systems, adding a backup generator is a smart upgrade that can keep your home up and running when the power is knocked out. A backup generator allows you to keep the lights on and the refrigerator running, even while the test of the neighborhood is left in the dark. More importantly, though, having a generator can keep other crucial and necessary home systems running, such as a sump pump. Sump pumps are commonly found in homes susceptible to flooding. Without a generator, however, power outages can result in costly basement flooding – making a backup generator an excellent electrical upgrade to attract potential buyers.
Lighting upgrades
It’s hard to understate the importance of lighting in making your home look beautiful. A decorative fixture or ambient light feature can really make your space pop. Lighting also tends to be an affordable electrical upgrade, giving you an excellent return on your investment!
Outdoor landscape and accent lighting
Whether you’re lighting up the pathways around your home or highlighting your beautiful back patio, outdoor lighting is a popular electrical upgrade for homeowners looking to sell. Soffit lighting is an especially popular form of ambient lighting that can drastically improve your home’s curb appeal. Beyond aesthetic appeal, though, having a well-lit exterior is important for safety as the weather changes and the sun sets earlier in the evening. It’s a simple, effective safety feature that resonates with buyers.
Upgrade to LED fixtures
As any experienced electrician will tell you, LED lighting is extremely popular in today’s market. This means that upgrading your home’s fixtures is an upgrade that will add substantial value to your home. It’s easy to see the appeal. LED lighting brings a modern look while improving the energy efficiency of your home, and these fixtures have become much more affordable over the years. Further, this is a quick upgrade for those looking to list relatively soon. New LED fixtures can be retrofitted to existing wiring, eliminating the need for messy work such as removing and replacing drywall.
Under cabinet and ambient lighting
While you might already be planning a full kitchen renovation, a simpler way to make your kitchen sleeker and more inviting is with ambient lighting. Under cabinet lighting creates an atmosphere of luxury and modernity that’s hard to match by any other means. And if you’re planning to swap out existing appliances for efficient, stainless steel models, they’ll stand out even more with the right accent lighting. Besides your kitchen, accent lighting is an effective, and cost-effective, way to dress up other spaces throughout your home, such as cabinets, stairways, and alcoves.
Luxury and efficiency upgrades
Potential buyers have always sought out safety and aesthetics as they search for their dream home. But today’s buyers are also looking for something else: environmentally friendly electrical systems and modern technology. While these electrical upgrades can be pricy, they’ll easily pay for themselves as they bring tons of value to your home. And in the meantime, they’ll help save you money by making your home more efficient!
Smart technology
Modern home tech is all about integration and smart technology. From thermostats to alarms to garage doors, having the ability to interact with different parts of your home via your phone is a huge plus for buyers. For a truly futuristic upgrade that’s sure to impress potential buyers, Smart thermostats like the Nest can’t be beat. This system uses AI to teach itself to be more energy efficient, and it’s truly the leader in the Smart thermostat market. This and other Smart technologies are electrical upgrades that will make your home truly stand out on the market.
Home energy monitors
As far as diagnostic tools go, home energy monitors are a great device to boost any home’s appeal. These devices connect to your home’s meter and provide real-time information on energy usage, including when and how much power is being used in your home. These devices can be free in certain markets, depending on your local power company. Whether it’s used in conjunction with other Smart technology or installed on its own, a home energy monitor can both save you money and improve your home’s list price.
Electric vehicle charging station
Finally, another important aspect of modernizing your home through electrical upgrades is improving its compatibility with other efficient technologies. Electric vehicle charging stations are popular electrical upgrades among eco-minded homeowners, and this amenity is rapidly increasing in importance for potential buyers as well. If you choose to add an electric vehicle charging station but do not plan to upgrade your home’s electrical service, an experienced electrician will be able to install a station using your existing service. For attracting tech savvy, environmentally conscious buyers, a charging station makes for the Smart electrical upgrade you’ve been looking for.
Electrical upgrades to suit any home
There are many ways to improve your home’s value through electrical upgrades, and that’s excellent news for homeowners looking to sell. No matter what the state of your home, you can be sure that there’s at least a few ways to boost its value and appeal, helping you list your home at a higher price point and sell it more quickly.
TCA Electric: Experts in Home Electrical Upgrades
Our experienced team of professionals here at TCA Electric has installed thousands of electrical upgrades over the years, from rewiring to lighting fixtures to Smart technologies. Our work has helped hundreds of homeowners sell their properties, and we’re happy to help you plan your next electrical project to ensure you get the most out of your home. If you want to boost your home’s value, contact us today! Whether you’re making a modern home stand out or bringing an older home up to speed, our team at TCA can install all the electrical upgrades you need to make your home stand out.