So, this is geared toward the positive side as requested by the OP. This is all general and will not be a definitive guide to every home or homebuyer.
Old mechanicals does not mean: zomg! This house will burn down when I flip the light switch on! Ahh!
Older mechanicals can be safely used. We have come up with better materials, practices, and now allow for heavier use, but that doesn’t mean the old way was bad and is an immediate hazard. Used properly, older mechanicals can still have years of good life left. (Generally. obviously there are some things that should be addressed immediately, which typically will come out in an inspection)
Asbestos will most likely be found in the house. If you don’t mess with it, it’s risk is very low. Best to leave it alone rather than try to remove and replace. So, not a deal breaker.
There will be lead paint. If not inside on windows or trim, then most likely outside from painted siding and windows. It will typically be found in the soil. If you have concerns, or have young children, make sure there isn’t pealing paint, wipe up your floors regularly, and don’t eat paint or dirt. Keep up maintenance and you’re fine! Not a deal breaker!
Older houses have materials and styles that can’t be replicated easily or cheaply. There’s a good look to plaster walls. If they aren’t damaged, some people like the look and feel more than drywall. Old millwork, doors, trim, etc can have a high degree of craftsmanship that you won’t find readily available today.
If wood construction, the house would most likely be built from old growth wood (if built 80+ years ago) These 2x dimensional lumber is straight, strong, and can last another 100 years! Cool!
Old houses are very classically styled. You aren’t going to find 100 year old McMansions. Bungalows, colonials, Victorians, foursquares, salt boxes, Queen Anne, arts and crafts, and mid century modern are some styles that will still look great for years to come.
Old growth trees in your landscaping! Good luck finding 100 foot oaks or maple in a new construction area! These take a LONG time to grow and can be a very attractive and functional part of the landscape. Plus they probably weren’t planted from a tree farm, so they won’t be root bound or have girdled roots that can cause early death.
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