Buying a old house or Building a new one

[linux.poet]

It depends on the condition of the old house. Has it been renovated? Also, how old is it? A building from the 1980s may have lead paint, lead pipes, outdated electrical wiring, and lack a termite barrier.

Another consideration is that HVAC tech has improved in the last forty years. Older buildings can have radiators instead of a furnace, lack insulation, and have outdated doors and windows.

There is just to little info for me to give you a good advice, but if the house is older than 20 years, it's better to build a new one.

20 years ago was the early 2000s. I think a house built during that time could be renovated up to 2023 standards. It would be unlikely to contain health hazards and would be safe to own.

I would personally prefer building my own house to my taste than purchasing an old apartment. However due to the scarcity of land in some locations, the only option you have is to buy a complete building with the land which will be more expensive. If he has the funds,He can pull down the old building and erect a new one in its place.

In addition, in some locales (my locale included) it’s easier to get a building permit for a house if a house previously stood on the land. The reason why is the environmentalists hate the environmental impact of a new building, but if there was a house there, the environmental damage has already been done, so no worries.

Because of this, renovating old homes is a big business here, but given that houses built in 1952 and 1969 are just bad, I would prefer the wreck ‘em and rebuild approach. However, I think the HOAs in the area don’t approve of cranes and wrecking balls as that brings down the neighbors’ property values.

More Expensive – Although new builds are usually more energy-efficient than older builds, they often sell at a higher premium so can cost more than comparable older houses. Delays – If you're waiting for your new house to be built, then you might experience delays which could affect the completion date

This is true, but I don’t think the original poster’s uncle is in a rush. He has been saving to build his own house for years. At the end of the day, it’s a matter of heart - I don’t think the uncle’s buddy understands him.

The thing is, if you want to build your own house, you put the time and blood, sweat, and tears into researching it and making the layout exactly how you want it. I know this because my dad built his own house, and it’s something I want to do as well. It is a work of personal satisfaction and comfort that you don’t get from buying a house from a builder or used. It’s intangible, and I don’t think the uncle’s buddy understands that.

Not only does the uncle probably need to go through with his plan to build his own house, he may need to explain himself to his friend a bit better. The house that he will build not only will be more valuable to him personally, but it will be more valuable and have more equity than the older house. Thus he should go with the newer one.