Electrical systems between 30 and 40 years old are now technically obsolete. Based on this, the wiring in a large number of old buildings needs to be fundamentally renovated.
Minor electrical system changes can be outsourced to an electrician authorized to operate electrical devices. However, the replacement or extension of the system requires a project in accordance with currently applicable standards and carried out by professionals who, in addition to operating licenses, have supervisory qualifications, allowing them to do the final measurements of the installation.
When you move into a newly bought home and plan a renovation project, you can leave your electrical system as it is only if you are 100% sure that it was made in accordance with the applicable standards, based on exact documentation. Its condition does not raise any objections. On the other hand, if the electrical panel, cables, and equipment show visible damage, there is no documentation on how to connect the individual circuits. There are no installation measurements. You should decide on a complete rewiring for your own safety.
When it comes to the costs associated with rewiring your home, any Denver electrician such as JM Electric Inc., will tell you that they depend on the technical condition of the electrical system, how old the system is, and what requirements are in place after the renovation. The size of the house, i.e., the living and valuable space to be supplied with electricity, also plays an important role.