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Buildings lose value over time in most places. And in many places where they don't, including renovation investments in the picture results shows declining valu
by zurn 4y ago
Buildings lose value over time in most places. And in many places where they don't, including renovation investments in the picture results shows declining value.
- dr-detroit 4y ago[dead]
- imtringued 4y agoThe only places where buildings go up in value is where the building has been grandfathered in and is no longer able to be built in accordance with modern zoning rules.
- ryukafalz 4y agoWhich is rather common in my experience. The town adjacent to the one I just moved to has a bunch of duplexes, but if you look at the current zoning it's all single-family-only. You couldn't build much of the town as it is today, which is a shame as it's very nice. As you might expect given this, the town has steadily lost population.
- Tiktaalik 4y agoExisting buildings will go up in value in an environment where construction costs are rising and the cost of replacement is increasing.
- FranzFerdiNaN 4y agoHere in the Netherlands this is absolutely not true for houses. My house, despite no renovations done, has more than doubled in value over the past ten years. Housing shortages make sure that existing houses are definitely not losing value.
- dbsmith83 4y agoBut is that the value of the building, or the land that is increasing for yours? My home (building + land) value has gone up a ton due to the housing shortages in tech centers, but on the assessment, the building value has gone down, while the land value has shot up a lot.