Watch out for lead paint.
Lead-based paints can still be found in homes built before 1978. Any peeling, chipping or chalking of lead-based paint can increase the risk of unhealthy lead exposure.
Young children risk delays in mental development, lower IQ and behavioral problems from inhaling lead paint dust. Some of those damages can be permanent. Remodeling that requires sanding, scraping or removing walls will release paint dust into your living space.
However, you can reduce the risk if you take the proper steps: Leave lead-based paint undisturbed if it is in good condition and do not sand or burn off paint that may contain lead; do not remove lead paint yourself; and if your work or hobby involves lead, change clothes and use doormats before entering your home.