This question is broad and requires a thorough analysis of many factors. Older homes should be considered equal to new homes in construction quality. Now that should not be taken to mean that every new home built in 2008 is as good as a home that is 50 years old. As with everything in our market economy there are great construction companies and others that are not so good. The same can probably be said for homes and construction companies from 20, 50 and 100 years ago. The points that should be considered by every unique buyer include energy efficiency (insulation, furnace type, wood sheathing etc.) and plumbing and electrical modifications necessary in an older home. Some costs will be incurred by a buyer to update some of the systems in an older home. It is likely that 25 years into the future the same will be said about new construction in 2008. The issue of which may be the better choice, new construction or old construction, should be made by the buyer after a careful analysis and comparison of which would be the best decision for that buyer. Buyers would be well served to discuss these kinds of decisions with a qualified Realtor.
| 