As a builder I renovated many, many really old houses. The one thing that I took away from those experiences is that when it came time for me to buy a house I wanted one that was less than 10 years old. I like the charm etc. but unless the house has been completely gutted and restored then there is always going to be something going wrong or needing replacing. Some people really like having old houses, this is fine if you are like that, I personally am not. Here are some things to consider besides the electrical issues previously discussed:
Insulation and drafts - Is the house insulated and is it really drafty in the winter? Are the windows old and rattly (drafty)? Is the roof properly vented? Is the first floor deck insulated?
If you have small children you should know whether the house has had the lead paint removed. Also, does the house have asbestos? Has it been tested for radon gas? What is the condition of the chimney flues? Do you have powder post beetles? Do you have termites or carpenter ants? What is the condition of the septic system? How are the roof shingles? Any one of these issues can add thousands of dollars to the actual cost of the house. There are many other issues that can only be assesed properly by a certified inspector. Analyze every item of the inspectors report and try to put a dollar amount on each issue. Add these costs to the purchase price of the house so you know what you are really getting into.