Originally Posted By: OVERKILL
Originally Posted By: Mr Nice
Buy land, build new house.
No way I would buy an old house and spend $$$$ trying to make it moder.
As I said in the OP, I love old houses, it is sort of a personal hang-up. My buddy wants me to do exactly what you've suggested but I don't like "new" houses, I have an infatuation with old ones and it is something my wife entertains (though she would prefer new as well).
I grew up in a house built in the late 1880's. Our cottage, which was my grandparents retirement home was built in the 1860's. I love the smell, the charm, the character, that an old home has. You can't build that into a new home.
I didn't say it was rational or logical, but it is "me". My grandfather had an obsession with antique boats (he had around 45 of them) for many of the same reasons. You can't have the same character in "tupperware" (as he called it) as you got in a woodie, which explained his fleet of Chris-Craft boats, many of which had modern upgrades such as a 425HP Ford V8 in one of them in particular (my favourite).
I come from a somewhat eccentric family, it is what it is.
Good for you. There are plenty of older places that are absolutely solid and with a little work can be quite good. Remember that in 10-20 years, a "new" house can be outdated anyway, obsolete in multiple ways, and many of the design elements questionable. IOW, on the same page as a far older home, only probably a lot fewer design attributes that have charm and character.
Id never have my kids bussed to school, so that keeps us in walking districts, which is what I prefer anyway. That means smaller suburban towns - new more planned towns are IMO undesirable and ugly modern classic cookie cutter designs, but the classic inner-ring towns with thriving downtowns are the place to be (to me personally). We've always had at least one other home out in the country/beach/etc., but Id hate to waste my life away commuting when there are so many other great things to do.
But that said up in Ontario there are some really great old properties and farms up on the escarpment, Ive been in a number of wonderful old brick farm homes from the 1800s.
So I guess your considerations need to be:
-Quality of school districts
-Is bussing an issue to you?
-How much longer of a commute and the effect on free time/QOL/health
-Taxes (likely relate to the first bullet though)
-Healthcare and quick accessibility to other resources
If your neighborhood is going down the tubes, its a consideration for getting out/going somewhere else. I suspect that with the real estate prices in Canada, its a worse situation that drives conversion of homes to multiplexes and things which become more affordable to riffraff. Not sure if you have "affordable housing" mandates in Canada, but they always cause issues.