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Reply to "Older homes"
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[quote=Anonymous][quote=Anonymous]I think there should be separate categories for older homes. I wouldn't bunch historic homes built pre-war with the post war mass construction homes even if they are all brick. These are 2 distinct types of housing with their own separate sets of pros and cons. You cannot even bunch homes built 30-20 years ago with the new construction of recent few years, different sets of pros and cons right there. [/quote] I have experience with both, and the main pro of the historical older home (or an urban rowhome or a detached prewar home with period detail) is that any improvement you make on your property you will get your money back and it increases your equity should you sell. It's the opposite with post war homes because in many areas where there is a lot of construction they are considered tear downs and will not be worth more than the price of the land. It makes costly renovations and additions very risky because you aren't likely to get your money back. This will limit what you would be motivated to do to an older home or even its landscaping to increase your QOL if you ever consider selling, even years down the line. [/quote]
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