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To set and keep to a budget:
· Get to know the market.
· Find out the rough costs of a rewire.
· Estimate the costs.
· Make initial decisions.
· Define the Job.
· Get an itemised quote.
· Check the quote.
· Accept a quote.
· Add 10% contingency.
· Work within the budget.
Get To Know The Market
When setting a budget it is essential that you ‘know the market’.
Use the Internet to do research:
· Many electricians define a rewire differently. · Get to know what rewire quotes may or may not include.
· Get to know the costs of a rewire in your local area. · Costs vary across the country.
· Get to know the common pitfalls people make when planning a rewire.
· Get to know electrical terminology.
Problems That Suggest A Rewire Is Needed
Electrical Rewire – Future Proofing
Rough Costs Of A Rewire
2010 rough costs of a rewire:
· One bedroom flat – £1000.
· 2 bedroom house – £2000.
· 3 bedroom house – £2500.
· 5 bedroom house – £4000.
Estimate The Costs
A ‘rule of thumb’ for how much contingency (reserve) cash to allow is 10% when you are certain of costs and 20% when you are uncertain of costs.
During the early stages of budgeting and planning use 20% contingency.
This example will use a 3 bedroom house – adjust for other house types.
· Rough cost of rewire of a 3 bedroom house = £2500.
· Contingency = 20% of £2500 = £500.
· Cost estimate = Rough cost of rewire + Contingency.
· Cost estimate = £2500 + 500 = £3000.
The cost estimate is £3000.
Make Initial Decisions
· Do you have £3000?
· Can you afford £3000?
· Do you need a partial rewire?
· Do all rooms need rewiring?
· What future proofing do you need?
· Save money in the long-term – what other electrical work can you do at the same time?
Define The Job
Now that you know the market, have some idea of costs and have made some initial decisions you should ‘define the job’.
You need to write down exactly what you want from the electrician.
Get An Itemised Quote
Contact at least 3 electricians and get itemised quotes from each electrician.
Check The Quote
Do you understand the quote? Ask for clarification if not.
Is the quote exactly what you want?
Do you want to add anything to the quote?
Do you want to take anything off the quote?
Accept A Quote
If you are happy with the prices accept one of the quotes.
Add 10% Contingency
At this point you should be as sure of the final costs as you ever will be until the job is complete.
Things can always go wrong and you may think of something you want to add to the rewire while ‘work in progress’.
Add 10% to the quote as a contingency (reserve).
Say the quote was £2700.
10% of £2700 = £270.
£2700 + £270 = £2970.
Budget for the rewire to cost £2970.
Work Within The Budget
The budget of £2970 is a very good estimate of final costs. Don’t be tempted to add to the budget; a lot of effort went into setting the budget – work within the budget.
Links
Problems That Suggest A Rewire Is Needed
Rewire Frequently Asked Questions
Electrical Rewire – Future Proofing
Links – Domestic Electrics & Central Heating Advice
Find, Reset & Investigate Tripping RCDs
Home lighting Troubleshooting Tips
Judge Electrical Guideline Prices
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Related Pages:
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This web page explains how to set, and keep to, a budget when planning an electrical rewire.
The setting of the budget is explained in 10 steps.
Introduction |
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Rewire – Budgeting |
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