Faulty electrical wiring does not only cause fires but could also result in electrocution if you touch an exposed wire. Hence you should replace old wiring.

Don’t use extension cord as permanent wiring. Meaning, extension cord should be used for transient condition, not for day-in day-out usage.
►Reasons: Extension cord is designed for temporary or short term usage. Continuous usage can cause overheating and the insulation sheath to melt and cord to short circuit.
►Alternatives:
1.) Use power strip or surge protector with UL rating 2.) If possible, arrange items closer to outlet