I recently restored the 740sqft house on my farm. The walls are mostly uninsulated, when I do the exterior siding, I’ll add 1/4” of insulation boards plus wrap the whole house with Tyveck and add insulation to the attic.
Not being able to add a conventional furnace with ducting, and wanting to get away from the gas space heater, I went with a mini-split heat pump. It will freeze you out in the summer, but it has a hard time keeping up below 15F outside on windy days, despite it being rated to -13F. It has no emergency backup.
To take care of that, I put in a wood burning stove that you could cook on if necessary and it will easily cook you out of the house. It’s designed for 1500sqft and at half the space, one cord of wood will last all winter.
I did add an electric baseboard heater in the bedroom. The electric bill on budget billing is less than $90 a month. I do have an electric water heater, and a gas range for cooking.
If you go all electrical on your house, be sure to have a non electric back up heat source for at least part of the house.