A property is probably one of the largest and most significant purchases you’ll ever make and because of this, it’s an investment you’re going to want to protect.
It’s all well and good having safety measures in place such as smoke detectors, carbon monoxide detectors, and burglar alarms but wouldn’t it be great if there was a lower risk of accident in the first place?
That’s more than possible if you regularly check your home for faults or issues that could lead to safety problems down the line. An EICR is just one example of this and allows you to make sure that your electrical installations are in good working order.
What Is An EICR?
EICR stands for Electrical Installation Condition Report. It is a test which must be carried out by a qualified electrician who will look at various components of your electrical installations such as power outlets, switches, wiring, and your consumer unit to determine their condition.
An EICR will highlight any potential problems from those that need immediate attention to those that may require remedial work in the future.
How Much Is An EICR?
The cost of an EICR typically depends on the size of your property. Generally speaking, you won’t have to pay more than a few hundred pounds for the work.
For smaller properties, such as a one-bedroom flat, the cost of an EICR may be as low as £100. On the other hand, if you have a larger five-bedroom house then you may be looking in the region of £300. However, your electrician will be able to provide you with a more specific figure.
What I must impress on you is that the cost of an EICR is incredibly low, especially when you consider that this test only needs to be carried out around once every five years. Compared to what you would pay for repair work in the event of an electrical fire, this amount is minimal.
Why Is An EICR Important To The Safety Of My Home?
Your home should be your number one safe place and for all intents and purposes, it is. But to the untrained eye, there may be electrical problems that could result in electrocution, an accident or an electrical fire.
Unless these issues are identified by a qualified electrician, you may not discover them until it is too late.
By having an EICR, you are directly investing in the safety of your home and giving yourself peace of mind that everything is in good working order.
Where immediate work is required, you can address this quickly and efficiently so there’s no danger of putting you and your family at risk.
Does An EICR Increase Property Value?
An EICR might not add any significant value to your home but if you’re looking to sell your property, it’s certainly a way to attract potential buyers.
If someone shows an interest in buying your home but can see that no valid EICR has been completed, they will likely want to know why.
You wouldn’t purchase a property if you couldn’t be sure that it was safe or didn’t require any emergency work and you can’t expect your own buyers to either.
Someone may be very interested in your home but the lack of an EICR may be enough to deter them and so, while it doesn’t decrease the value of your home, you’re less likely to be able to sell it without any issues. Moreover, a buyer may agree to purchase but may offer a lower price to counter the risk of any work that needs to be done after they complete their own EICR.
Since an EICR is such an affordable electrical test, it’s worth having this done before you put your property on the market. When you consider the other costs involved in selling your home, you’ll realise that this is just a drop in the ocean.
Is An EICR A Legal Requirement?
In the UK, it is not a legal requirement for domestic homeowners to have an up-to-date EICR. However, it is always worth having this test done on a regular basis as it gives you greater peace of mind that your electrical installations are safe.
If you intend to purchase a property and rent it out as a landlord then you are legally required to have a valid EICR.
It is also worth keeping in mind that, while an EICR isn’t a legal requirement for private homeowners, your insurance company may require you to have one.
This will be stated in the terms and conditions of your insurance policy so it’s vital to read this properly. In the event of an electrical fire caused by faulty installations, if a valid EICR is not in place or you have failed to have recommended remedial work done, your insurance company may refuse to pay out.
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