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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.

Several signs can indicate a light switch is bad. If the switch feels loose, slides down after you flip it, or requires multiple flicks to turn the light on, it may be failing. Other common indicators include flickering lights or a general failure to turn the light on or off. Pay attention to any unusual sounds, such as crackling, buzzing, or popping when you operate the switch. More serious signs, which can present a fire or shock hazard, include the switch feeling excessively warm or hot, sparking, smoking, or emitting a burning smell. If you notice any of these dangerous signs, stop using the switch immediately and call an electrician.

It’s generally not recommended to run electric to a shed above ground, and you should instead run electric lines underground via a conduit. This job, like all electrical jobs, is best left to a pro, as they’ll need to ensure everything is installed safely and that they don’t run into any other utility lines underground. 

The life expectancy of a home electrical panel is typically around 25 to 40 years. However, this can vary based on usage, maintenance, and technological advancements. Regular inspections by a qualified electrician can help determine the condition and potential need for replacement as your panel ages. Factors like overloading, outdated components, or wear and tear might prompt earlier replacements for safety and efficiency reasons.