@Alejandro Patino
I just bought a property a few months ago that had knob and tube wiring. It is a 150 yr old 2 story home about 980 sqft, very similar to yours in New Jersey.
The seller didn’t know the knob and tube wiring existed. I discovered it when I did my inspection and brought that in for negotiation. It must be replaced to the new romex wiring as no insurance company will insure knob and tube.
From one electrical company I received a quote for $20K to just rewire the entire house. However I was fortunate to come across another reputable licensed electrician that was recommended and they charged me about $10k to rewire the entire house, make repairs after the work, get permits and city inspection. I also had them install A new 100 amp. Service panel, breakers . Grounding new meter, all outside wiring in PVC conduit (it was exposed wiring and water was coming from the box the to the panel) for $2000 more.
The $20k company was very quick to say all this wiring is messed up, and they will be Breaking down walls and there will be a lot of repairs that I would have to do afterwards. The guy I ended up working with was great. They tried to make a very small holes a lot of times on the corner of the wall so it will be easy to repair and wouldn’t look odd after they would paint it up.
I’d say call different electricians, it’s worth spending that $150 for them to come out and give a quote. Around 10k to rewire that size house is normal in NJ.
PS, I was fortunate I had the inspection done on the house and it was discovered before I bought the property. I had the Seller pay 6K out of the 10k for the wiring.
