Do I have to replace old electrical?

[Robert Obniski]

I look at a property today that was perfect. 3 beds 2 baths not everything in my criteria until I got to the fuse box. It has old electrical throughout the whole house. It was kind of a deal breaker for me being as I would not be carrying any walls down anyways so the electrical wouldn't be touched. My question is if I purchase and renovate the house, do I have to put in all new electrical throughout the house? To bring it up to code.

[Chris Truesdell]

It's always a good idea to get a service change done on an old fuse box because you'll always need to add a new circuit for something. I'm an electrician in Michigan and that's the only market I know but knob and tube is not the end of the world. In Ann Arbor we see knob and tube all the time. If it's exposed you should replace it, but if everything's working fine then it's been working fine for a century. Just leave it alone. If the house is a ranch replacing all the wiring isn't a huge deal. (A 2 story is however. Plaster and lead paint can be a nightmare.) If you do major renovations then yes the wiring will have to be replaced, but the more walls you open the easier it will be.

[Russell Brazil]

@Robert Obniski It depends on the condition and the type of the wiring.  If it is knob and tube, I would just walk away.  But if the wiring is in good condition, and it just needs an updated panel, that should run about about $2k. Not a deal breaker depending on the price and condition of the property.

[Kyle Penland]

Same thing happened to me...I found a property that like you said was GREAT!  It had knob and tube wiring!  I don't know why it happened but starting bid was 25k and it went to best and final several times...Ended up selling for 42k and arv is around 65k...I don't know how they will make a profit on that home!

[Chris Truesdell]

It's always a good idea to get a service change done on an old fuse box because you'll always need to add a new circuit for something. I'm an electrician in Michigan and that's the only market I know but knob and tube is not the end of the world. In Ann Arbor we see knob and tube all the time. If it's exposed you should replace it, but if everything's working fine then it's been working fine for a century. Just leave it alone. If the house is a ranch replacing all the wiring isn't a huge deal. (A 2 story is however. Plaster and lead paint can be a nightmare.) If you do major renovations then yes the wiring will have to be replaced, but the more walls you open the easier it will be.