I would have to consider my finances and the reason for the remodel work. If the reason was to prepare the house to sale I would take care of any safety issues, especially with the electrical system. Then I would do things that would stand out to make the house more appealing without spending too much. If I’m living here and plan to stay I would keep the house maintained and repair the worst things first again safety and also functional operation of plumbing fixtures. There is a lot a person can do themselves if they search for some information and know how. But I would not do my own electrical work unless I was licensed and familar with codes be careful with plumbing too. Too many people get into too much debt keep the payments reasonable or save the money to do the the work in stages. Also I would look at things that would give me a return on my investment, insulation and other energy saving ideas.
This ultimately depends on each individual person. In planning to do a major renovation multiple aspects need to be considered. Time of the year. Elements such as rain and snow may conflict with a renovation project timeline. It is also important to consider how the accessibility to you house is going to be limited durring the renovation. Rooms may only have partial access or no access. We had a client for example who wanted to do renovations to the kitchen, dining room, and living room durring the summer time. Summer time hindered the project because they also had small children who needed access to these areas durring summer vacation. It may be a good time to do renovations if you are already needing to make repairs to certain areas. If walls or floors are going to be opened up, it may be convenient to get started on that renovation you’ve been designing. Don’t forget that renovations add value to your home, especially those that add living space, or updates to the kitchen or bathroom. When putting value into your home, make sure timing will be of maximum benefit for you and your family.
Major renovations - given the expense and sacrifice - imply a commitment to a particular home/site. If it becomes clear that the property is where the homeowner intends to commit a reasonable number of years, major renovations make sense. Homeowners should be able to enjoy their home environment to its maximum potential, every day.
When they don’t have to ask that question on here is. when
Speaking as an electrician I recommend that renovation be done to the electrical if you have an older home (25+) with panels that are Pushmatic, Federal Pacific, or Sylvania/Zinsco. From my experience these panels are a fire hazard over a long period of time. I recommend that you keep up to date with the information about the electrical systems in your home. If you have any suspicions call an electrical company out for an inspection. Also if you have old style wiring (knob and tube) then at this day and age I would recommend to completely rewire because this as well is a fire hazard. Again, I would first recommend to call a reliable electrical company to do a full inspection because most of the time there is no need for major renovations but if needed, and then you will know in detail of why it is important to do these renovations.