Money should be spent on creating new buildings rather than renovating the existing ones. To what extent do you agree or disagree?

There is a perception that finances ought to be spent on constructing the newer buildings,
instead
of altering the existing ones. I disagree with
this
opinion and believe that alteration and repair work in existing buildings is more cost-effective.
Moreover
, these buildings include those of cultural value that must be safeguarded at any cost. Admittedly, constructing the new buildings should be given a preference over renovating the older ones, whenever the budget allows.
This
is because,
although
, newer buildings requires less maintenance work and
thus
save valuable man power, the huge investment required to build these blocks costs a handsome amount of resources.
Moreover
, the time and money needed to demolish the existing structures, multiplies
this
work and the cost, exponentially.
This
is why, not even the richest countries like England and the USA, follow these practices in their countries.
Furthermore
, there is a point to ponder that what might be the fate of a city where people start constructing newer buildings and abandoning older ones? Another important reason to stress upon the renovation of older buildings
instead
of constructing newer one's, is the cultural and historical values of the ancient buildings.
In other words
, very often, these buildings are a hub of the cultural activities.
For instance
, museums, mausoleums and historical forts. To demolish these buildings equals to the demise of these cultures and heritage.
Thus
, preserving these valuable buildings by minor renovations and repairs is of utmost importance in order to pass on the heritage to the younger generations.  
Furthermore
, there are many countries like India, Egypt and Pakistan, whom economies are dependent on the tourism industry. Since these old buildings are important tourist attractions, replacing them with newer one's would probably crash the economies of these states.  To conclude,
nevertheless
, newer buildings tend to survive longer, but renovating older ones are more cost-effective
besides
being a vital part of culture and history. It is,
therefore
, suggested that governments should aim to preserve the historical buildings and save money which can be spent elsewhere, worthwhile.
Submitted by aadidoc508 on

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