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Updated over 4 years ago on . Most recent reply

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43
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Greg Gangle
  • Rental Property Investor
  • London, ON
13
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43
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Knob & Tube Wiring - How much value can be found?

Greg Gangle
  • Rental Property Investor
  • London, ON
Posted

Hello just wondering how much value is to be found in updating know and tube wiring prior to refinance? Is there a rough estimate? Seems like a must upgrade. Thought everyone?

Most Popular Reply

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Marc Winter
  • Real Estate Broker
  • Northeast PA
2,659
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1,773
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Marc Winter
  • Real Estate Broker
  • Northeast PA
Replied

We manage lots of older units in this area of NE PA, many with knob and tube wiring.  Quick answer to your question--bite the bullet now and get it upgraded.  

Add outlets up to current code standards.  Properly ground and bond the lines where needed.  Make sure it's done by a licensed electrician who pulled a permit and had it inspected when work is complete.  This is a health/safety issue--do not skimp here.

Think about this:  people are working from home.  That means a LOT more electrical load.  Plus, while many people love older homes (our office is in a grand old Victorian built in 1896) I know of no one that would want to live in an older home without some modern upgrades to electric, plumbing, kitchen, and baths.

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