Structure Age Affects Value
All Structures made by man wll eventually fall down, degrade, decompose, and finally disappear. Homes become uninhabitable, or functionally obsolete. Unlike works of art, homes seldom become more valuable simply because of their age. However, even a functionally obsolete structure can have value because its mere existence infers a right to re-construct or obtain a building permit. The following table includes all those factors. It does not include any factors for Lincoln slept here, or Clark Gable's initials carved in the wall. Here, a 60 year old structure is claimed to retain 80+% of its value, but recall that most 60 year old structures were usually built to much lower standards than today, so those factors must also be included. Think of this table as applicable to a 60 year old structure with in-floor hydronic heating, built in microwave, fully plumbed with cable, telephone and electricity, etc.
Note: This information prepared by Robert Dickerson, and you must be advised that he is not a qualified Real Estate Appraiser.