Scenario:

Imagine you are part of a development team working on a legacy codebase that has grown over the years. The codebase is complex, poorly documented, and prone to bugs. The team is considering whether to invest time in refactoring the code or continue building new features on top of the existing structure.

Question:

Explain why refactoring the legacy codebase is beneficial in the long run. Provide at least three specific advantages of refactoring in this scenario and how it contributes to the overall health and maintainability of the software.