Relationship between a home's age and its value
I've had a number of buyers ask me if a new home is always more expensive than an old one.
The short answer is no.
The more in depth answer is there is often no correlation between a home's age and its value.
Often the older homes are in more desirable areas so much of their value is in the actual dirt under the home.
On the other hand there are a lot of desirable features that are desirable today that were not even considered when older homes were built like 3 car garages and bubble tubs in the master bath. Even master baths were not a typical feature in homes built 60 years ago!
The short answer is no.
The more in depth answer is there is often no correlation between a home's age and its value.
Often the older homes are in more desirable areas so much of their value is in the actual dirt under the home.
On the other hand there are a lot of desirable features that are desirable today that were not even considered when older homes were built like 3 car garages and bubble tubs in the master bath. Even master baths were not a typical feature in homes built 60 years ago!
Labels: Ypsilanti real estate values
posted by Jon Boyd at
1:33 PM
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