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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's recommended that you only use your circuit breaker for your water heater. Tacking on additional appliances, especially large ones like refrigerators, can overload the circuit and lead to electrical fires. Therefore, it's best to have separate circuits for each major appliance, particularly continuous load appliances, which use a lot of energy over prolonged periods of time.

In many cases, you can sell your house if it has aluminum wiring, but you are likely required to disclose that fact during the sale. In some cases, your city or area may have banned the sale of homes with aluminum wiring, so you’ll need to update the wiring or arrange for its replacement as part of the sale. In some cases, it will benefit your home sale to replace the wiring system before putting it on the market.

Overall, heating your home with an oil furnace tends to be less expensive than heating your home with an electric heating system. Oil heating systems stay warm for longer periods of time without drawing a constant electrical current to maintain a temperature. Plus, heating oil systems typically have a longer lifespan and lower price tag than their electrical counterparts, resulting in short- and long-term savings.