Buying a 50 yr old house. Inspection showed aluminum wiring. research found that this has a high risk of fire. But there are mitigations - best is of course re-wire the whole house. Cost $15-18k. 2nd is to put in something called copper pigtails on each receptacle. This is recommended by the electrician who inspected and would cost $3500. Sellers willing to give $10k to fix. Most big insurance like liberty mutual, state farm refuse to cover. Only getting insurance from safeco. What would you d

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House needs to be rewired. Either you’re willing to take $5-10k hit or you tell the seller they have to fully pay for it or fix it themselves completely

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The fact that an insurance company won’t insure a house with aluminum wire tells me that you shouldn’t live in a house with a aluminum wire. You can either take the loss, renegotiate with seller, or move on.

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Does 15-18k include fixing the walls after rewiring? Be sure to include that in total cost for repair.

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But it, take the $10k, re wire properly, write off as Capex, re evaluate insurnace after 1 year

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So another aspect in this deal is that I am looking at this house as my retirement home when I am ready to downsize in 5 yrs. The house is currently 1250 sq ft and I am planning on adding about 800 sq ft to it in 5 yrs and am willing to put in about 150k at that time - to also build a stone patio in the backyard etc. So my plan in that make the copper pigtails fix now so it is safer than it currently is and rent it for 5 yrs and then renovate the whole house - do the re-wiring then and live there myself. I can afford the $150-200k expenses then since I will sell my current home. Considering this would you go for it? Also the seller is giving 10k so it covers the current fixes for 3500 and part of the future re-wiring too

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It's not as bad as it sounds tbh...at least in terms of "danger". My house still has a bunch of live knob and tube that we're slowly replacing just because it can't handle very much and we need more outlets anyway...but it's been used for 100+ years without issue and is considered to be far more "dangerous" than any modern wiring.

Now, whether or not you want to get top value out of the deal is another question. I'd recommend listening to a licensed electrician if he recommended a solution...but if you think you can get them to cover the full re-wire then go for it-thats just better for your own investment. I just wouldn't call it a deal breaker myself.

The house has managed till now not to go on fire. It’s not an immediate requirement. Get the 10k from them and rewire the house. A lot of houses are in the same situation and you won’t ever have to worry about it again. Get a more expensive insurance for a few months if required.

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How many bids did you get for rewiring? I bought a K&T house still on fuses and had to rewire within 90 days of purchase. It was a 2/1 and about 1K sq ft and I put in all new wiring to code, new panel and new main for about $10k. The seller and I split the different for the credit and I was happy with that as I really wanted the house.

Which year was this and which city? I think just like everything else the contractor rates and material cost has gone up.

I would try to negotiate a bit more and then get some more bids for a rewiring it.

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