I would prefer to buy land and have a new home built for me. It is possible to imitate the designs of old homes and modify it to fit the taste desired. There are so many possibilities under the sun when it comes to the kind of home you can create.
I think it's about the headache that you want to put into the whole factor, you really have to think about how much work you really want to put into the overall project. I think dealing with a new home you can atleast get everything done to a specific extent but with an older home your stuck with issues beyond your control at certain points. I prefer newer homes. Less headache, easy to flip.
I prefer older homes myself, there's just something about the construction quality that can't really be matches nowadays. Of course some of them need to have some repairs and investment made but usually they turn out better than a completely new house.
I am going for new homes any time because I've been living in a old home for quite a while and I am rather sick of it, I would prefer to move into a new one, I am studying the possibility.