Low budget horror movies: Awesome or a waste of time?

I've seen more than my share of low budget horror movies and I can see a clear split in what makes them good or bad. What I've found is that many of the older low budget horrors are very good as they put the emphasis on a storyline and try to scare you with suspense rather than with visuals. But I've found many modern low budget horrors to be a waste of time as they fail to work at delivering an interesting story or build up tension or suspense, preferring to try and scare you with predictable and corny visuals which are more laughable than scarey.

I think the low-budget ones often show more thought and creativity, probably due a lot in part to the budget being restricted. Got to make up for it somehow. =)

I do like low budget horror movies. Some of them have been real bad though. but I have seen alot of them that I find myself watching over and over. The only thing I don't like is when their acting is really bad, I can't get into the whole plot if the acting is just horrible, lol. I can put up with the fake blood (: I also find the old school horror movies to be the best, they are even sometimes better than the new horror movies that spend lots of money to make it!

what i dont like in low budget movies are not so red blood and plastic bodies... and lack of special effects and costumes.