Updating your home can be costly, but did you know that knocking down and rebuilding on your existing land rather than renovating your current house can be very cost-effective?
As new home builders in Sydney, we focus on building only new homes, so our preference is to demolish and rebuild, but we also know that sometimes a renovation is a better option for some homeowners. Here are a few reasons you might choose to remodel or rebuild.
Why knockdown and rebuild?
One of the most significant benefits of rebuilding on your existing land is that you get to stay in a location that you know and love. You can’t underestimate the importance of feeling like a part of a community. You know where all the essential services, such as the local doctors, shops, restaurants, and schools. Plus, you surround yourself with a support network of friendly neighbours.
Knockdown rebuild equals a brand-new home
With a knock down rebuild project, you get a brand new house while staying in the community you know and love.
That means you don’t have to work with the quirks of an existing dwelling because everything is pristine from day one.
Choose your home design
With a new home, you start with a blank canvas. Every design choice is entirely yours, from the house’s orientation to the layout, design, and styling.
You can choose from an existing design, like the range of home designs from Kurmond Homes, or a custom-designed home.
Potential cost saving when you tear down and rebuild
It is often cheaper or similar in cost to knock down and rebuild than to renovate. For a renovation, you’ll have to budget for labour expenses, materials, permits and council fees, design fees, inspection costs, and repayments for any loans.
Plus, you’ll experience fewer ongoing maintenance issues. A new home is more straightforward and more cost-effective to maintain than an older one, with areas such as heating and cooling proving far more economical in a new home.
Energy efficient home features
Building a home also gives you the option to kit out your new abode with smart technology and green living options – which doesn’t just benefit the environment and your bank balance but makes your home more comfortable.
Investment opportunity when you demolish and rebuild your house
If you live in an area where land is scarce, and home costs are high, you are unlikely to overcapitalise if you build a new home.
This means that if you’re undertaking your knock down rebuild project as an investment, you are likely to come out in front, or if you’re building a home to live in, you’re unlikely to lose in the long run
The pros of home renovations
Renovations can also be cost-effective, particularly if your home needs less remodelling. You particularly need to weigh up the heritage value of your home and even the sentimental value before you either demolish or rebuild your home.
Keep the character of an older home with a home renovation
Many older homes are of higher quality than new ones and hold many heritage attributes that cannot be replicated. These homes are usually worth renovating and are guaranteed to sell at a much higher price.
There are several factors to consider, like the age of the home and the condition it is in. You will also need to know if building restrictions apply to your home, like heritage listings or overlays, that may prevent you from demolishing or significantly renovating your home.
No relocation while you renovate
Depending on the extent of your renovation, you may be able to still live in your home while it is undertaken. This is a considerable cost saving and ensures you can keep a close eye on the progress and quickly rectify mistakes.
However, it can be challenging to live in your home if significant renovations are undertaken.
Less waste in landfill if you renovate
If you demolish only a portion of your home to renovate rather than tearing down the whole dwelling, you will send less waste to landfill. Building waste accounts for a significant amount of landfill waste, although some is recycled or reused.
Buyers often prefer an established home
Many buyers prefer established homes, so if you live in an area where older homes demand a premium price, you might consider a renovation instead of a new build.
Ask the experts if you should rebuild or renovate your house
At Kurmond Homes, we can advise you on the pros and cons of a renovation versus new construction.
As knock down rebuild specialists, we often favour building a new home, but we’ll also let you know if we think a renovation would suit you best.
To discover more about building with Kurmond Homes, please get in touch with us today or visit one of our display homes.
