Does the year of a house built affect its sale value?

Question

Thanks for your supportive answers so far. What about the situation specifically for an apartment unit inside a co-op building?

Answer 1

Not by a lot for most homes, unless they are time period representations. A victiorian style home built in the victorian era (1900-1910) is worth a LOT more per square foot then either a newer home of that style or a differant style built the same year.

Answer 2

Yes. I believe the older homes built in 1800 -1900s sell for less than a house of similar size built say a few years ago. At least that is what I found when looking at houses two years ago. What kind of wiring it has, does it have a full basement or one you must duck in, stairs leading to the basement or only outside entrance, plaster walls (used a lot in older homes) vs. sheetrock. etc. You also mush remember that it may make a difference as far as updating. If I bought a house built in the 80s and they never updated anything, it would go much cheaper than a house built in the 50s that is totally updated and requires little to no work.

Answer 3

That's one of the factors in the price, as the age determines how much work will need to be done to the basic structure, i.e. roofs usually last about 20 years, furnaces, air conditioners and water heaters grow older and need to be replaced. But if the general overall condition is good, and the routine maintenance has been done on the house, age is only one factor in the value. More important is the size of the rooms, the number of bathrooms, etc. and of course, the location of the property.

Answer 4

Not really. What effects the house's sale value is the condition it's in. Now if it were a really old house and held value to the community, it would def have an effect on the value. Meaning it would be greater. However, if the home is in nice condition, although it may still be old, it will have the basic same value. Hope this helps.

Answer 5

Yes, to some extent. The older the house, the more repairs it may need. Houses need a new roof every 10-15 years, and that's expensive. An older home may have bad electrical wiring or asbestos insulation, both of which should be fixed.

Answer 6

Generally not. Condition is very important, as is LOCATION.
Older homes well maintained and updated are worth similar values for similar homes in a neighborhood. Many factors determine value, including whether a home 'fits' into a neighborhood. If an older home has not been updated in a fashion to match where it sits, its value will be lower.

Answer 7

It does if the house has not been kept up-to-date. House that have add-ons, full basements refinished and are up-to-date with any city, or state laws go for a higher value, as well as, houses with land. If the house is old and nothing new has been added to it or anything replaced the value can drop.

Answer 8

It does the older a home gets. I think an average home has a life of 80 years. The only way to prevent it is doing upgrades and maintenance. Ask an appraiser!!

Answer 9

For manufactured homes and trailers, construction date can be significant. But in stick built homes, condition will carry the day.

Answer 10

Yesbut if you have a really old house it may actually increase the value.