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Updated over 7 years ago on . Most recent reply
Knob And Tube Wiring Older Home
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We run into K-n-T in about 1/4 of the properties we purchase ... recently, a 6-unit built in the 1920s which has original wiring (KnT) and fuse boxes.
Costs will be/are region dependent to a certain degree. Additionally, If the house is a side-by-side duplex and there is relatively easy access from the basements and attics, the cost of a rewire will be lower. Does that quote of $9K ($4500/side) include new breaker panels? If the units are smaller, that cost seems plausible, but would be on the lower end of the range here.
Remember that is only the cost of the electrician replacing existing circuits and does not include the repair and repaint you will been to do to walls and ceilings (hopefully the electrician is not planning to surface mount). Older properties also tend to have insufficient outlets for today's electronic lifestyles, so a rewire would be your opportunity to increase the number of receptacles (and circuits) in bedrooms and living rooms .... modern code will require that things like refrigerators and microwaves in the kitchen have independent circuits and that receptacles close to water (kitchen counters and bathrooms) are GFI protected.