Risk when owning older property

[Derek Cantrelle]

I still live in my first home that purchased around 4 years ago, and have since then remolded around 80% of it including a new roof, added central a/c and heat, among many other updates throughout. The house is about 60 years old so wear and tear on the plumbing(underground) and other structural concerns have me worried that keeping it once my new house is built will be a mistake. I know most houses are case by case when debating risk over reward but I would like some opinions and feedback regarding this subject. Note that if rented to a family I could possibly rent for double the mortgage as we stole the house in a relatively popular area.