This quotation says: Old houses mended, cost little less than new before they're ended. Please I need and explanation on this quota and how could I use it
Old houses mended
cost little less new
Before they're ended.
Houses and structures have what appraisers call an "economic life." Which means that at some point the structure will have to be completely rebuilt. It cost almost as much to mend an old house (that has outlived its economic life) as it would to build a new house. If the lot is good you could come out ahead by rebuilding an old house on the existing lot. Some lots have an economic life as well. Using the quote? I would use for anything related to home improvement or real estate financing.
Home improvement is a very effective way of increasing the value of a house. When you undertake home improvement for the investment purpose, you must make sure that the cost of carrying out home improvement does not exceed the resultant increase in the value of your house.
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