HOAs all over the country are actively updating their community’s electrical systems for several reasons. It not only makes communities safer and more attractive to potential buyers, but it also reduces environmental impact and contributes to a more sustainable future. Additionally, these projects can potentially qualify HOAs for discounts on insurance premiums. Do you want to dive in and explore the benefits of having commercial electricians update your Atlanta GA HOA’s electrical system? Let’s get it on!
With homeowners’ safety on top of their list, older electrical systems that pose a significant hazard to residents just won’t do. According to reputable commercial electricians in Atlanta GA, faulty wiring, outdated circuit breakers, and other issues significantly increase the risk of electrical fires, electrocution, and other hazards. By investing in updates, HOAs can ensure that their community’s electrical systems are up to code and are therefore safe to use.
Updating electrical systems increases energy efficiency, which ultimately helps residents save money on their utility bills. A modern and more efficient electrical system can reduce energy losses through the distribution network from 30% to as low as 2%. By reducing energy losses, HOAs can cut down their energy consumption and lower their energy bills, allowing them to provide better lighting throughout the community, keeping areas attractive, safe, and free from vandalism.
Investing in electrical updates effectively attracts new community members. Many homebuyers are looking for communities offering modern amenities, including up-to-date electrical systems and electric car charging stations. These updates can be a huge selling point for potential buyers, particularly those interested in sustainability and energy efficiency.
Additionally, properties in communities with modern amenities often go for higher prices, which can be a huge benefit to current residents who are looking to sell their homes in the future. According to the National Association of Home Buyers, many homebuyers were willing to pay an additional $9,292 upfront for a home that can help them save $1,000 per year on utilities.
An updated electrical system benefits the environment by reducing energy costs and promoting sustainability. Specifically, it:
Updating an electrical system can qualify the HOA for insurance premium discounts. Insurance companies often offer discounts to homeowners and HOAs that are proactively taking steps to reduce their risk of fire or other hazards.
When updating electrical systems, HOAs are likely to address any outdated or unsafe wiring, circuit breakers, and other components that could pose a risk of fire or electrical hazards. By doing so, they are reducing the risk of damage to the property, making the community a lower risk for the insurance company to insure. As a result, the insurance company may offer a discount on the HOA’s insurance premiums.
It’s important to note that the exact amount of the discount will vary depending on the insurance company and the specific circumstances of the HOA. However, it’s worth contacting the insurance company to inquire about potential discounts once the updates have been completed.
When it comes to electrical system updates, HOAs should exclusively work with a licensed electrician with ample experience working with communities. The electrician can assess the current system, identify any potential safety hazards or energy inefficiencies, provide recommendations for updates, and ensure that all work is done safely and to code.
The HOA can then prioritize which updates to make based on the needs of the community and their budget, and communicate the benefits of the upgrades with homeowners. Any potential disruptions during the construction process should also be thoroughly discussed before taking the next step.
By working with a professional, HOAs can help to ensure that their updates are effective, efficient, and designed to meet the unique needs of their community.
Obviously, electrical system updates can be a smart investment for your HOA, especially if you are working with commercial electricians in Atlanta GA who can ensure that the updates are done properly and in a way that meets the community’s needs. For your peace of mind, choose S. D. Smith Electric for your HOA’s electrical needs.
At S. D. Smith Electric, our licensed technicians will address all issues quickly and efficiently. We’ll also provide a one-year warranty on labor and materials so Contact Us now or call us at (470)347-8339 today!