value of older homes
I read somewhere a while back that after a home reachs 100 years old they are harder to finance and the values starts going down instead of up. Is there any truth to either of these statements? I have a home that was built in 1915 and has been completely updated . We put it on the market about a month before the big crash and then pulled it right back off to wait for the market to come back up so we can at least recoup our purchase cost and remodling cost. We would like to move to another area of the state so if the value of the home is going to go down I would rather take the loss now and move. If there is a better than reasonable chance that the value will go up in the next 5 years or so we are prepared to stay and wait out the market. I just don,t want to be screwed over because of the age of the home.