Houses are systems. Cable shows romanticize fixing up This Olde Dump; however, even assuming structural integrity, you're pitching money if you don't modernize the systems and tighten the building envelop (i.e. proper air sealing, insulating and indoor air filtering).
There's nothing wrong with renovating to a traditional STYLE of house, the problem, many owners focus only on fixtures and finishes and lose sight of the house as an integrated system. Brushed nickel looks spiffy but $400 electric bills aren't warm and fuzzy. These owners will continue wasting precious income monthly heating and cooling outdoors.
A new building code is now in effect and best practices the last five years in building science and Universal Design correct many design and construction mistakes of the past, so those inclined to renovate an older home can achieve an old fashioned look along with energy efficiency and social sustainability.