If your home was built before the turn of the century, you probably identified numerous restoration projects before you made an offer. Older homes have a charm you’ll never find in a cookie-cutter subdivision, but safety standards were far less rigorous when those homes were built. Even a home constructed more recently typically needs some updating. When Underwriter’s Laboratories mandated three-prong plugs for all new electrical appliances, only about half of USA’s homes had three-prong electrical outlets.