Buying a old house or Building a new one

[eLdavis]

The house that we checked in 2001 was 20 years old, kind of dilapidated with a leaking roof and damaged walls and doors. But we bought it and spent $10,000 for the needed renovation and repairs. Now our home is still doing fine and probably the value is about 4 times of the original cost when we bought it.

Thats one of the advantages of buying old houses just that most persons do not want to make that effort of spending extra for renovations and the likes, they would just go for a new house.

 

[Ray1]

To be very frank, buying very old houses is part of my strategy as well. But let me make it clear that in my place we have a zone system. In R1, you cannot add but only renovate. In R2 properties you need to seek permission before adding anything and in R3 there is a limit but with the council's permission. In R4 you can do various other activities including demolishing and making changes to the building. I generally go for R3 and R4. Else I invest in new properties for rental purposes and sell them when the price is good.

 

[Setfragil]

Every one has choice and taste, one can decide to acquire a building or build from the scratch. It all depends on his or her preference when it comes to building.

That is correct. Your preferences will determine which one to go for whether to buy an old house or a new one. Some people prefer to build their houses to matter the condition why some don't really care so far it is comfortable.

 

[Shigobad20201]

Every one has choice and taste, one can decide to acquire a building or build from the scratch. It all depends on his or her preference when it comes to building.

Youbare right on your point of view , it depends on the mindset of the who want the building, i might prefer building my own home from scratch while someone else might like buying already made house,

 

[Justin]

UNless I am getting the old house for very cheap price, I will never consider buying old house. I will always prefer to construct my own house because I can make a strong house.

 

[Kunkun]

Location matters in situations like this, most people buy old houses to either refurbish or rebuild because it's in a location they prefer, but other than that I would prefer to build rather than buy an old one

 

[Trexxxy]

Location matters in situations like this, most people buy old houses to either refurbish or rebuild because it's in a location they prefer, but other than that I would prefer to build rather than buy an old one

I agree, asides location I think the viable option will be the one that won't cost much and you stand to make more profits, it could either be building or buying a new house.

 

[Kunkun]

Definitely since the aim of all businesses is profit making so that should be a major consideration too with the location factor, there could be other considerations to still be made

I agree, asides location I think the viable option will be the one that won't cost much and you stand to make more profits, it could either be building or buying a new house.

 

[Trexxxy]

Definitely, since the aim of all businesses is profit-making so that should be a major consideration too with the location factor, there could be other considerations to still be made

I agree, other considerations such as prices of building materials, the overall business prices of housing in that community as well.

 

[Kunkun]

I agree, other considerations such as prices of building materials, the overall business prices of housing in that community as well.

Yeah those included too, since the aim of real estate is profit majorly coupled with providing shelter so it's important to looked for quality and at the same time make good bargains for them

 

[Trexxxy]

Yeah those included too since the aim of real estate is profit majorly coupled with providing shelter so it's important to look for quality and at the same time make good bargains for them

Any business venture aims to make a profit. I agree with you, I think it is important to go for quality especially since it could be life-threatening should there be a collapse or problem.

 

[GIFTMICHAEL]

Youbare right on your point of view , it depends on the mindset of the who want the building, i might prefer building my own home from scratch while someone else might like buying already made house,

It just depends on individual's preference. Of the person wanting to own a house needs it urgent, then buying the house is to be considered.

 

[Psalmseen]

Buying a new house or old house depends on many factors. Many factors needed to be considered. Factors like the condition of the old house

 

[Kunkun]

Any business venture aims to make a profit. I agree with you, I think it is important to go for quality especially since it could be life-threatening should there be a collapse or problem.

Definitely, a life is far more valuable that any profit to be made so it's important to always source for quality materials, having quality doesn't necessarily means one can't make profits or that the profit would be limited

 

[IamDozzy]

Building a new house would be much more expensive than buying an already built house. What your uncle should do is to buy the house and then renovate the house to his own taste.

 

[Ayokex]

My uncle got a deal from is old pal about a old building for sale at a very good price. My uncle was planning on building his own house but this came has an opportunity to him.

Should I ask him to buy the old building or start building a new home for himself.

Building a new house is better as compared to buying an old house. When you build a new house you have the opportunity to make a better plan and design the architectural view of the building whereas this is not possible buying an old house because the structure is already there.

 

[Dowenship]

My uncle got a deal from is old pal about a old building for sale at a very good price. My uncle was planning on building his own house but this came has an opportunity to him.

Should I ask him to buy the old building or start building a new home for himself.

What if that old building is not his taste and everybody Always love to build there house where is lively and not boredom for them. If the house is to old for him, Is better to build his own house.

 

[Haveit]

If it is your uncle's first house and he has the money, it would be preferable for him to build his own house as he would learn how to build other ones and renovate an old one properly.

 

[Shigobad20201]

If it is your uncle's first house and he has the money, it would be preferable for him to build his own house as he would learn how to build other ones and renovate an old one properly.

In my country , when you want to have your first house ,people loves building their house from the scratch and after the first house, they don't mind if they buy the second one and renovate it.

 

[Haveit]

In my country , when you want to have your first house ,people loves building their house from the scratch and after the first house, they don't mind if they buy the second one and renovate it.

That's how it normally should be but I get that in some part of Africa, precautions are taken against buying an old house as a first timers due to fetish or traditional reasons.