League 1 - Buy young players?

I have adequate training facilities, basic youth academy, 8 decent coaches, and about 1 million cash. My question is should I buy young players who could become decent league 1 players or at this level do I just continue on using free transfers of older players who can contribute immediately? Is it worth investing in youth or should I wait until I get better facilities and I am at a higher level?

It depends, I think. When I'm building something I try to sign some experienced players that can handle some pressure, can tutor (future) youngsters and are a direct quality injection. When that basis is solid, I try to just sign youngsters and players that are pure quality.

I try and get the young players, but if there are none available cheap enough and good enough, I prefer to go for the tried and tested lower league players, in their mid twenties who have done alright but nothing special at every club they've been at rather than go for journeyman pro's coming to Edgeley park for their final pay packet.

My squad average age is 23.9, and that is with only one player over 30, Darren Byfield who is 34. Quality when he plays, but can't play every game even when he's not injured, and spends more time on the treatment table than on the pitch.