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You're in luck, because replacing a breaker panel is not a regular occurrence that most homeowners have to worry about. Electrical breaker panels last 25 to 40 years, assuming you properly maintain your system and conduct annual inspections. Factors like load demand and exposure to the elements slightly reduce a breaker panel’s lifespan.

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.

There are a few reasons your lights may be on, but the rest of your electrical outlets and appliances are not working. The first is that while one circuit blew out, the lights may be on another circuit than your other electrical fixtures. Alternatively, your powerless appliances may be plugged into a GFCI outlet that was tripped and needs to be reset. If these issues aren’t responsible for the problem, you may have dead outlets or a wiring issue. Either way, you should contact an electrician to identify and fix the issue.

Rewiring an electric system in a house typically ranges between $2,000 and $9,000, but a simple project can cost as low as $1,500. More complex upgrades run $10,000 or higher. The price depends on the size of your home, how accessible the wiring is, the cost of materials, and local electrician fees.