Whether you’ve outgrown your existing home or you just want to update, you may be wondering if it’s better to renovate or rebuild. This guide will help you understand the benefits of rebuilding a home versus renovating your home and why it’s best to work with a local custom home builder to bring your new dream home to life.
Let’s Compare the Cost
Whenever you take on a home construction project, you should always carefully review the costs associated with it.
You might be surprised to learn that it’s often cheaper to rebuild your home than it is to renovate it. Now, while this may sound counter-intuitive, it really does come down to the type of work that has to be done. Similarly, since you already own the land, you only need to finance the cost of the new construction.
If you plan to complete an extensive renovation that involves structural changes and a major demolition, you are almost always better off starting from scratch. It can be extremely expensive to complete these invasive projects on an existing home, and you run the risk of discovering more issues when construction begins.
By rebuilding your home entirely, you know exactly what you’re getting in to and will not be surprised by any expenses relating to the structure of the house.
Other costs to consider include expenses that you will likely incur in the future. For example, every construction element in your custom home is new. Whereas, when you renovate, existing infrastructure may be used to build from, however, there are no guarantees that this will not need to be replaced sometime in the future.
Think about it this way – when you work with a custom home builder, you’re making sure that your new home is less susceptible to things like termites and that it’s more energy-efficient, so you’re essentially reducing your long-term costs as well.
Exploring Customisation Options
Another thing to consider as you decide whether to renovate or rebuild is what customisation options you have available.
Although you get to choose what your overall renovation will look like, your customisation options are limited depending on the layout and design of the existing home.
On the other hand, when you choose to rebuild you have complete flexibility to design the home exactly as you want. You don’t have to compromise on anything since you get to choose the floor plan, colour scheme, fittings, fixtures, and more!
Rebuilding gives you the chance to make room for that new pool or re-plan the house to suit the block. The best part is that you don’t have to sacrifice your current location to get your dream home – no need to change your children’s schools or add to your daily commute!
How Old is Your Home?
As you compare your options to rebuild or renovate, consider the age of your home. The older the house, the more likely it is that structural changes will be necessary – and this can become difficult and expensive to complete.
An older home may not be up to the current codes or building standards. This could make it very complex to renovate since your contractors will have to work to ensure that any new projects meet these requirements.
If your home is relatively old, working with a custom builder to rebuild is the better option. Doing so will ensure that the structure and other vital components are built with the newest technology and comply with all the building codes!
We’re a multi-award-winning local custom home builder with more than 20 years of industry experience in building custom homes. We will work with you every step of the way to design and develop the custom home you’ve been dreaming of.
Give us a call today to learn more about rebuilding on your block.