Many old homes are rewired and replumbed (is there such a word) when people feel that they have worn out.

In apartment buildings this type of work tends to take place when:

1.) The building is too costly to maintain
2.) The building is renovated anyway
3.) The authorities take action

Here is my question:

Should the installations in buildings be redone every 50 years? For apartment buildings, this is fairly easy legally. For single family homes it is a bit more difficult: You can't reasonably demand that people rewire their home. Instead the requirement should be linked to sale of the house. If the installations are more than 50 years when the house is sold, they have to be redone.

What is your opinion?