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Buildings are actually a deprecating asset, even if you renovate them, outside of maybe some rare heritage art pieces or other similar rare things. The only re
by novok 5y ago
Buildings are actually a deprecating asset, even if you renovate them, outside of maybe some rare heritage art pieces or other similar rare things. The only reason why RE 'goes up' is the value of the land underneath. You can easily demonstrate this by two neighbor buildings on similar kinds of land with equal sqft, the newer building usually sells for significantly more than the older 50 yo one.
- kory 5y agoThere are some exceptions (eg. older craftsman houses in Portland/Seattle seem to be appreciating as more of them are razed for higher density). Craftsman homes are much more popular in those cities than any style besides possibly mid century modern.