A number of persons suggest that we should construct modern structures rather than spending too much financial resources among old ones which should have been demolished instead. In my opinion, building new structures is more cost-effective because of two reasons.
First, constructing new buildings ensures its structural integrity. Old buildings may have used outdated engineering strategies and technologies which may have drawbacks when it comes to its structural strength in the long-run. This risk is further enhanced by the emergence of the climate change problem which may trigger unforeseen circumstances such as strong earthquakes which may negatively affect many people, especially those who are occupying the refurbished building. If such disaster occurs and the building collapses, a lot of money has to be spent for healthcare, compensation for the victims, as well as the construction of the new structure. Whereas, if we choose to build modern structures instead, with the development of advanced technologies in the field of engineering, we can have the peace of mind with it comes to its integrity and safety.
Second, old buildings may need to be overhauled more frequently than newer ones, thus increasing expenditures in the long-run. For instance, given the rapid advancement of technology, there would be a frequent necessity to change the electrical components of a building such as its compatibility to solar energy, and other modern-day appliances.
In conclusion, at first, it may seem that refurbishing a building is more cost-effective than building a new one, however, if we look at its long-term sustainability, such as safety and adaptability in the changing times we can see that it will do more financial harm than good.