Any recommendations for whole house knob and tube replacement/rewiring? Rough cost estimate in a 100 year old home with plaster walls/ceilings in our area? Issues with home owners insurance without having it removed?
Under contract for a 120+ year old folk Victorian, overall in beautiful shape, no major structural issues, one owner for the last 70+ years clearly well loved. Inspection revealed some concerns, most of which were expected (asbestos insulated pipes, some mild moisture in the basement, an ancient but functional boiler) but also revealed that there is likely a significant portion of the house fed by knob and tube. They’ve very recently (last 5 years) replaced all the electric panels but most of the outlets appear to not be grounded and without cutting into walls our inspector says there’s evidence most of the wiring is likely still active knob and tube, and one wire running to the electric panel was aluminum.
We expected some of this but the issue is the house is quite expensive because of the neighborhood. It’s priced somewhat accordingly compared to what some of the houses in the neighborhood go for but now knowing about the knob and tube makes me nervous. How have y’all dealt with knob and tube? Replace all at once? Replace as it’s exposed per project (i.e kitchen remodel one year, bathroom another, etc), or is this an immediate hard no for you in a house that’s already pretty highly priced?