There's more here than just that it's what people can afford. There's a mystique to remaking an old house and keeping/improving the character that's there. You're able to have something with character but also something that is your own. On top of that, networks like HGTV glamorize the process and make it seem doable. But because of HGTV, the updates to the older houses are not small. Generally, they're updating the kitchen or other large projects, partially because of the old owners neglect or because of changing tastes.