Since I practice real estate in the High park, Swansea and Bloor West Village area, I frequently encounter homes with older wiring. This is commonly known as Knob and Tube wiring because of the components it uses.
The best approach for homes with this type of wiring is to upgrade the electrical service panel and replace all the wiring throughout the house. This is not necessarily a requirement and the existing wiring may be quite safe.
Having it inspected by an electrician is always a good idea.
Here is what The Ontario Electrical Standards people have to say about knob and tube wiring
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Ralph Evans, Sales Representative
RE/MAX Professionals Inc., Brokerage
Etobicoke Real Estate
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