Discussion in 'Buying & Selling Real Estate' started by springbreeze, Jul 31, 2014.
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In terms of investment and trying to maximize profit, I almost always prefer older homes. When buying an older home, unless the homeowner has already renovated the property, there are usually a number of improvements that can be made through a renovation to allow for a profit when the home is sold.
When I am looking at buying a property, I take the future value into consideration and find that the greatest return on investment is usually found when buying an older home.
I have experience with two older homes. The upkeep of an older home is expensive when a old appliance cease from working. the dust and creaky floors, possible mold and mildew are minor annoyances. I would choose a newly built residence, immediately.
This is a very general question that I will address in a simplified manner. Generally, investors want houses as investments to be in good shape. It doesn't matter if they are old or new. As long as they are in good repair, then that's good.
Prospective homeowners would prefer to have the same things although as I mentioned previously, new houses tend to be in good repair.
If you're referring to old and new as architectural references, most "old" houses nowadays are renovated in a constant basis so there's that issue too.
I think old homes are good because they have a strong structure most of the times, based on rock instead of bricks. Some new homes are weak and made with cheap materials which can be dangerous. I'd prefer a new home, though, well built with strong materials and a decent architecture. I wouldn't buy a budget new home.
I guess i 'd be torn in between when choosing...say a Victorian era house...i know i 'd relish the experience, then again i 'd like to go with the current times...am afraid no concrete answer in this regard from me
In the United States there are lots used old homes that are really cheap, but they may require a little tidying up. I think older houses are built tougher that today's mass produced suburban homes.
I prefer the architecture of old homes. I also prefer them internally too. Unfortunately many of these town houses accumulate problems over time. I would love to own a fully restored Victorian town house.
The new homes really do look beautiful and they are very cosy, but old homes are the way to go for me. The architecture is much more interesting and also the materials that they used.
It's hard to choose, really. Both type of houses are beautiful in their own ways.
I'm with you--old homes and buildings are very interesting with me. I have no problems living in one if it's been updated and kept in good condition. Building a new home is a big undertaking and can be very pricey. Classic buildings can be expensive too but I generally find them still more affordable.
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