Old Home Ungrounded Wires (2-Prong Outlets)

[David Yu]

Hello BP Community,

I was wondering if anyone if the DFW area has experience purchasing and selling older homes that has no ground wires installed.

The property I'm looking at was built in 1957 and currently has no ground wires built in.

I have received mixed opinions from contractors about rewiring the whole house vs keeping the wiring and just replacing the outlets to new un-grounded outlets and installing un-grounded GFCI where 3 prong is needed.

My questions is, will having 2-prong ungrounded wire decrease the pool of potential buyers, thus decrease the value of the property?

We are planning to flip a property and would like your input on whether we need to add re-wiring to our budget.
Re-wiring will be a large portion of our budget if we decide to do this and would either make or break this deal.

Your input is greatly appreciated!