Do your breakers trip often? Do your fuses blow out frequently? Do your lights flicker or dim? Do you notice frayed wiring, loose outlets, or a burning smell in your home? If you are experiencing any of these, it may be time to rewire your house. You may not lose much sleep postponing home repair projects; but, procrastinating on a full home electrical rewiring can cost you more than a good night’s rest.

Poorly wired homes are the cause of electrical fires. Postponing a full house rewire leaves your home and family at risk of serious hazards. In addition, a full home rewire is an expensive project. Current estimates run at least $8,000 for a 1,500 square foot home. That’s about $200 per square foot, assuming there are no major problems. Tackling a home rewire − without breaking the bank − requires a professional.

Here are some common misconceptions, and responses from our experts.

1. “I can do the work.”
Are you a licensed professional electrician? If not, consider hiring an electrician. First, get estimates from three professionals in your area. Confirm that they are properly insured, bonded, and licensed in your state. These individuals will have the tools, the expertise, and familiarity with homes like yours. A licensed electrician will ensure the work meets local codes and standards.

2. “My homeowner’s insurance won’t cover rewiring.”
Your homeowner’s insurance may actually cover the cost of rewiring, if your wiring is damaged. Ask if your insurance provider offers credits for upgrading from old knob and tube wiring (a system used in older homes) to newer electrical systems.

3. “I need to remove the drywall to access all the wires at one time.”
Much of the cost of rewiring includes drywall or plaster repair. You can cut the expense of these costly repairs by using a less invasive method. A professional can make judicious, small cuts in the walls, and fish the wires through ceilings, floors, or walls. In homes with unfinished basements, consider running the wires through floor joists. Talk with a licensed electrician to see if these less costly options will work for you.

It may be time to rewire your house. So sleep soundly – you can tackle this critical repair project without breaking the bank.