I don’t hate anything about it, but I think first time

buyers probably don’t appreciate the associated costs of owning a house. You need more furniture, maybe a lawnmower if you don’t pay a landscaper, outdoor furniture, you have to pay someone to open and close your sprinkler system every year and there are always broken heads to be replaced, appliances don’t last very long today so you will likely have to replace some along the way, renovation costs for kitchens and baths are significant, same with replacing a roof, homeowners insurance and utility costs may be more than anticipated...the list is long and the expenses add up.

Agree. Many don't realize the costs associated with

ownership.

My father always said count on capital investments (i.e. replace roof, furnace, concrete, appliances, etc) of 1% of purchase price for new and 2% for existing. I bought a 30 year old house (so now 50+) and while not every year its correct over 20 years he was exactly right. About 2% of my purchase price X 20 years has gone to replacing things and the like.

This is why here in the NYC area burbs fully renovated

Old homes sell for a premium. People like the old details such as room size, original moldings, parquet floors, etc. and the upgrades such as new kitchens, baths, new windows
and roof, electrical, central air and upgraded heating plant, etc. a young couple can buy such a house and know they will likely not have to put substantial $ into it for many years. With mortgage rates where they are, it makes sense.

Quality 50-100 years ago way better than today on basic

things. My 50+ year old trim is better than my sister's that is less than 10 years old.

My MIL lives in a 120+ year old sandstone house and it is SPECTACULAR in terms of room size, ceiling height, the wood walls, wood trim banisters and doors, lead and stained glass in the doors and some windows, etc. No one alive even does this stuff anymore.

P.S. Nothing better than the width of 100+ year old home staircases. Landings with stained glass windows.

Phrasing on that second sentence *