Do you Knock Down and Rebuild or Renovate? This may Help you with Your Decision.
Whether you should knockdown and rebuild or renovate is a common question asked by people looking to update their home. There is no right or wrong answer to this question but Renmark has a strong reputation in this area and it’s worth asking us the question.
Careful consideration of your personal needs, the age of the existing house, local zoning laws and costs of the renovation will influence your decision to remodel an existing home or knock down and rebuild a new house, among other factors.
If your home is particularly run down and any renovation is going to be a major overhaul of the entire home, then choosing between a renovation or a knock down and rebuild needs to be thought through carefully.
If the likely cost of a renovation is going to be in excess of $250,000 then building new is a viable option for you. Not only will you have a brand new luxury home, but you can design a floor plan that suites your needs and lifestyle and allows you to add in the modern quality features that are lacking in your current home.
On the other hand if you live in a period home with historical charm then a quality renovation could be a good alternative. A tastefully renovated period home will appeal, especially if you are located in the inner suburbs of Melbourne or other capital cities. Generally period homes don’t go out of fashion. A new home can lack warmth, charm and character which is the appeal of the older style homes.
Some of the negatives with renovating your home
Mess
Mud, dust and debris are part of any construction site. When you live with that, it can really strain the tolerance levels. There is nothing pleasant in coming home to such disarray day after day whilst works go on.
Lack of privacy
Be prepared for contractors and builders to occupy the living space at odd hours, weekends and holidays. Apart from the intrusion this is usually accompanied by noise from power tools, delivery trucks and plain bedlam on some days.
Disruptions and stress
If you are going to live in your home through any part of the renovation, be prepared for major disruptions. Reduction in amenities and living in a construction zone can put real stress on your family. Especially if you have young children. If you decide to move out this is an additional financial burden..
Cost blow outs
When you deal with an existing home you are sure to find unforeseen surprises once works start. No amount of planning can prepare you for asbestos, non-compliant electrical wiring or sub-standard plumbing to name a few. Each one of these can put enormous stress on the budget and turn any dream home into a horror story. Be sure to have a contingency in place to cover such unforeseen blowouts.
Consideration should also be given to what your existing home is worth pre-renovation as it might be viable to sell and put the proceeds towards cheaper land a bit further out and build a brand new home.
If you love the suburb you live in but have outgrown your home and have decided to build new, the decision will be more to do with what type of builder you need for your block of land.
Some of the considerations in building a new home
- you will definitely need to rent for the period of construction
- if your home is heritage listed you may not be able to demolish
- local laws and planning regulations may prevent you from building exactly what you had planned
- cost of demolition
- cost of new services
- do you require double or single storey? This is important for designing on your new block.
- are you looking at a modern or contemporary facade? This may be at odds with your neighbours.
Whichever option you go with you will still require a design, plans, specifications and building permits. In many cases it may be wise to engage an architect to draw up a very simple concept plan so as to get a cost estimate to compare a new home build with a renovation. This may make your decision to either renovate or to knock down and rebuild easier.
Finally when comes to comparing time frames there may not be a great difference between a major renovation and building a new home. Call us today and find out how long each option is likely to take.