Has anyone here had experience with replacing pipework in the home and can share how this went and how much it cost? (Dare I ask?)

I'm in a house built in the early 1970s with galvanised steel pipe. The house was empty for a year before I moved in and I noticed rust coloured water when I ran the taps for the first time, which I guess is not surprising for the age of the pipework and the fact that the house was unused for a year.

Since the pipes will be coming to 50 years of age, I'm wondering whether to replace it now before corrosion becomes a problem e.g. replace everything with PEX or copper.

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Saw rusty water coming from the taps of a 2009 premium built Chalet in Verbier, so metal pipes seem to be the 'premium' option. All the Plumbing in our 2004 French built C is with copper.

In Malta everything is plastic pipes, very easy for DIY, I am sure you could do it yourself at fairly minimal cost, clearly you just blank off 1 old set of pipes at the time so you won't be out of water in the rest of the house, then when all plastic pipes, blank off the metal pipes.