Someone I know once bought an old home believing that with a little renovation he could sale it for slightly more after a few years. That didn't work. He spent a lot of money renovating the house and once he was done the house didn't look any better than it originally was. When he finally managed to get someone to buy it, he sold it for only a little more money than he'd paid for it. It had me thinking that maybe it wasn't wise to buy old homes even if they are cheaper. What would you do? Take the risk and buy a cheaper, older home or . . .