Is it worth to buy an old home built almost 80/90 years back in Darien, CT?

Asked by Ashish, Greenwich, CT Thu Nov 15, 2012

The home is in good condition and there are many new updates done recently including roof, kitchen and etc. When I sell it after 10 years from now, does it appreciate the value?

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De Vonte Wil…, Agent, East Point, GA
Thu Nov 15, 2012
Hello Ashish. Older homes can have a lot of character and charm. If the property is in good condition, and you make reasonable and important upgrades it should appreciate it's value, but appreciation is never guaranteed, because value is what someone else is willing to pay for it. In addition, older homes do not technically sell for more than the average home.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you all the best,

De Vonte Williamson , LSA
Proudly Serving Long Island
Coldwell Banker Residential
"I Stand Behind Getting You Results!
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Nov 15, 2012
If the property is well maintained, was inspected by a licensed professional home inspector, know you'll be happy living there, etc., no reason not to consder the purchase...don't focus too much on resale, none of us can really predict the future...
0 votes
This is a ridiculous answer. Focusing on resale is very important. The focus is on previous history of the property and properties in the area. It has NOTHING to do with finding a crystal ball and predicting the future. It is educated and calculated based on KNOWN variables.
Flag Tue Nov 19, 2013
Justin Murphy, Both Buyer And Seller, Darien, CT
Thu Nov 15, 2012
That obviously depends on the home's condition and its location. That said, Darien is over 95% builtout, meaning very little vacant buildable land available. Therefore, well located and well maintained homes should retain value. Another consideration, would the lot size and location be attractive to a builder in 10 years? Most new home construction in Darien involves teardowns, so it may be worth considering what the land is worth, even without the house.
0 votes
Stephan von…, Agent, Darien, CT
Thu Nov 15, 2012
Hi Ashish -
It can be, but that depends on location, overall condition and what the current renovations include. Your idea of a "new kitchen" may not be the same as a buyer 10 years from now. If your plan is to trade the property in 10 years, you should include a plan that brings the overall property up to today’s standards in terms of what purchasing consumers want and expect. Property appreciation can never be guaranteed, but a sound strategy beginning with the purchase of the property and what improvements might be justified to improve its value is the key. I would be happy to assist you in this process with no obligation. Just let me know.
Cheers -

Stephan von Jena
William Pitt Sotheby's International Realty
1057 Post Road
Darien, CT 06820
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