Dated? Or Defective?
Don’t know much about history
Don’t know much biology
Don’t know much about a science book
Don’t know much about the french I took
–Lyrics, “Wonderful World”
Prospective home Buyers — and their Realtors — don’t need to know a lot about electricity.
But, they need to know at least a little — as well as when circumstances warrant getting an expert opinion, presumably from a 
knowledgeable, licensed electrician.*
So, a good starting point is checking out the home’s electric service panel (or panels, as the case may be — see below).
From best to worst, here’s how I (literally) size up them up:
1. Oversized, 200 amp service panel, with lots of extra circuits available.
2. One hundred amp service panel (circuit breakers) that’s full.
3. Service panel with fuses (pictured above).
4. Knob-and-tube wiring/service panel.
Complicating the above just a bit are what I’ll call “in-between” configurations.
For example, in homes that have new or extensively remodeled Kitchens, it’s common to see a second, supplemental (split-off) service panel dedicated to just that room (and all the juice-sucking appliances in it, starting with a microwave oven).
Call that “configuration 1.5.”
It’s also the case that not all service panels are created equal.
In particular, at least one brand — Federal Pacific — has been subject to recalls, and has raised issues on inspection.
Sub-Optimal? Or Defective?
Which raises the broader issue: when is a home’s service panel a legitimate inspection issue (vs. something less than state-of-the-art and acceptable)?
Fortunately, municipal point-of-sale inspections — at least in cities that have them — address the lowest common denominator.
If a home has knob-and-tube wiring, it’s considered deficient, and the current owner will be responsible for upgrading it.
But what if the home merely has (very) dated electric service?
Safety Criterion
The issue then becomes whether the panel is operating safely, and is adequately powering the home.
If the answer to either of those questions is “no” — for example, the panel is obviously warm to the touch — it’s a legitimate inspection issue (and potentially hazardous!).
How do you test whether the service panel is doing its job?
Turn everything on.
If the system blows a circuit or fuse . . . it’s undersized and/or underpowered.
Cost to Upgrade
The good news for prospective home Buyers and Sellers is that the cost to install a modern, new service panel is usually “only” $2k – $3k.
Not nothing, but certainly not a circuit deal breaker in most instances (sorry).
*I recall asking an electrician years ago how a layman like me could tell a good electrician from a bad one.
His (non-ironic) answer: ‘the really bad ones are dead.’
See also, “World’s Biggest Electric Service Panel, or . . . ???”
