The shittier the shithole the less depreciation there is. Land gains value, houses lose value. A brand new home, with brand new appliances, starts to depreciate

The shittier the shithole the less depreciation there is. Land gains value, houses lose value. A brand new home, with brand new appliances, starts to depreciate quickly - like driving the car off the lot. Once the oven, roof, walls, plumbing, is 10yrs old the 11th year doesn't matter much. There is a threshold of course - if you let the roof cave in and destroy everything inside there's a jump in loss there. Otherwise the longer you can make use of your shitty house, on your appreciating land, the more financially beneficial it will be.