Rewiring a house--material cost?

I am in the southeast. How much do you think it would cost to go to Home Depot or Lowe's for the materials to rewire a 1300 sq foot, one-story range style house? 3 bedrooms, 1 bath, kitchen, dining room, living room, 1 car carport, utility room which houses the washer/dryer and electric hot water heater. Gas furnace. I got a quote, not broken down in writing yet, for approx $7000 by a licensed master electrcian. Couple of others said that was a fair price.