Initially, an older home can look like a better deal, but when you factor in hidden costs, unforeseen problems, and annual upkeep, are you really saving anything? Leaky roofs, cracked foundations, and outmoded appliances are just the beginning of a never-ending list of home-improvement projects you’ll be spending your time on. When you add up these operating and remodeling costs on top of monthly maintenance, the real price of an older home becomes apparent.
To see just how quickly the numbers add up, take a look at remodel and repair costs for a typical used home.
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