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On average, the cost to wire a new home ranges from $2 to $5 per square foot. The cost to rewire a house is around the same, ranging from $2 to $4 per square foot. Often, though, new wiring comes with lower overall costs since it’s much easier to access a home’s foundation. 

It can be safe to buy or live in a house with knob and tube (K&T) wiring, but only if the system is in good condition, functional, and has been thoroughly inspected and approved by a licensed electrician. Never purchase a home with K&T wiring without getting a professional electrical inspection first.

Key considerations include:

• Safety and Condition: An inspector will verify that the wiring is safe and has not deteriorated. Over time, the insulation can wear away, leaving exposed wires that pose a significant fire or shock hazard.

• System Capacity: The electrical service should be at least 60 amps. However, even at this capacity, K&T systems often struggle to handle the demands of modern appliances and electronics.

• Lack of Grounding: Knob and tube wiring is an ungrounded system, which is a safety concern for many modern devices.

• Ongoing Maintenance: If you live in a home with K&T wiring, it's recommended to have it inspected by an electrician every one to two years to ensure it remains in safe working order.

Ultimately, any inspection or modification of a knob and tube system should always be performed by a certified professional.

The average lifespan of a home electrical system is anywhere from 30 to 70 years or more, depending on the type of system you have. Modern electrical wiring, like aluminum or copper, can last 50 to 70 years while older types may need to be replaced sooner. Additionally, circuit breakers tend to last anywhere from 30 to 40 years, while electrical outlets need to be replaced every 10 to 25 years. 

It is possible to change a light fixture by only flipping the light switch, but it’s better to be safe than sorry. Exercising extra caution when working with electricity is always important. Take the extra few minutes at your electrical box to cut the power at the circuit breaker. Once you’ve flipped the circuit breaker and the light switch, use a voltage tester to confirm the power has been turned off.