Houses constructed before 1965 featured a 60-amp electrical overhead service. Canadian insurance companies have opted not to accept these services due to concerns about their adequacy in meeting today’s electrical demands, potentially posing a fire hazard.
If you own a home built before 1965 and plan to sell it, there are critical considerations. Modern Realtors and buyers are aware of the limitations of 60-amp electrical services. When negotiating the home’s purchase price with this type of service, it often becomes a significant discussion point. Realtors nowadays advise buyers to request a $10,000.00 reduction in the selling price to compensate for the electrical service, though service upgrades typically cost less than that amount.
Realtors have shared that owners of older homes with the original 60-amp overhead electrical service can lose up to 80% of potential buyers, who may walk away without presenting an offer.
Get an Electrical Investigation Completed
Before listing your home, it’s advisable to conduct an “Investigation” with Robart Electrical Services Ltd. This investigation helps identify any electrical conditions that might raise concerns for incoming home inspectors. Completing this investigation before listing can save sellers thousands of dollars by addressing any electrical requirements to meet current codes.
Over the years, at Robart Electrical Services, I have developed tools for home sellers to navigate challenges related to 60-amp electrical services. If you discover you have a 60-amp service, it’s in your best interest to perform the 100-amp upgrade before listing the house. EPCOR scheduling challenges, sometimes booking six weeks in advance for service upgrades, can interfere with a possession date. Conducting the investigation prior to listing solves this problem.
In many cases, purchasers may struggle to secure insurance and a mortgage if a 60-amp service exists. With a 30-day possession request and EPCOR scheduling difficulties, an investigation performed by Robart Electrical Service becomes crucial for sellers. Don’t let potential buyers walk away without presenting an offer.
Upgrading a 60-amp overhead service can be one of the most costly negotiation items when selling your home. By being proactive and understanding what to expect, you could save thousands of dollars in the selling price of your home!
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