When it comes to home improvements, many homeowners are confused about whether to rebuild or renovate. Each has its own benefits and drawbacks, making it hard to decide the best solution for your home.
We understand how hard it is to decide, especially when your investment is at stake. That’s why we will help you make a sound decision that will be worth your time and money while also getting the home changes you like.
Considerations When Choosing Whether to Knockdown and Rebuild or Renovate
When it comes to making a major change to your home, you can’t just choose blindly. You must ponder considerations before taking a huge step that will create a big impact on your life and investment.
Here are the questions to ask yourself to choose the best home improvement solution:
What kind of house sells the most in your community?
Figure out the value of your home. Find out if buyers prefer a brand new home over a newly renovated one. Or whether they prefer big houses over small ones.
What is the condition of your property’s block?
If you’re thinking of knocking down your house and rebuilding it, remember that this big job is easier done on a flat surface.
Consult a professional, such as an architect or engineer, to ensure that your rebuild goes as smoothly as possible.
If your house is on a sloping block, renovating may be a better option.
What kind of changes do you need?
Do you need a new coat of paint or a total makeover? If you’re planning to make significant changes, such as adding extra rooms or getting structural changes, knockdown and rebuild would be better.
Does your local community permit knockdown rebuild?
There’s no use in planning to rebuild if it’s not permitted in your local council. Be sure to check the regulations in your community. Some communities don’t allow demolishing existing homes and rebuilding them, depending on the age of the house or its importance in your neighbourhood.
Is what you want workable on the existing home?
If you want sunlight to get into your house but the house faces in a different direction, choose the knockdown rebuild option as it is more economical for all the work needed.
What kind of homeowner are you?
If you want a brand new home with no traces of the old one, knockdown and rebuild is the best choice.
But if you want to keep the character of your old home while still getting the changes you desire, go for a renovation.
When Is a Renovation Not for You?
Whether rebuilding or renovating, the better option always depends on your needs, goals, and the house structure. Whichever you choose should satisfy what you want to happen based on the benefits of each option:
Advantages of Knockdown Rebuild:
Fewer mishaps
When you knock down a house and rebuild, there are fewer unknowns because you have to build from the ground up. This means that you can plan everything the way you want it, and there will be no surprises.
Saves money
A knockdown rebuild is generally cheaper than an extensive renovation.
Opportunity to restructure
One of the biggest benefits of a knockdown rebuild is creating your home 100% based on your plans. This is an excellent opportunity to develop what’s lacking in the old home or add features you always wanted but couldn’t have before. You also have the chance to make your home more energy-efficient.
Advantages of Renovating:
Preserves the character of old homes
One unique advantage that renovating has over rebuilding is that you can preserve your old home’s character and personality. If you love the way your home looks but want to make some changes, renovating is an excellent option as it allows you to keep the aspects of the house you love.
Preferred by home buyers
According to a study, most homebuyers prefer newly renovated homes over brand new ones.
It takes less time and effort
In general, renovating takes less time than rebuilding because you’re working with an existing structure. This means that you can start using and enjoying your newly renovated home much sooner.
Is it Cheaper to Knockdown Rebuild, or to Renovate?
As mentioned, a knockdown rebuild is generally cheaper. But it still depends on the factors of what you want to change. If you only have to do minor upgrades, it will be more affordable to renovate.
But if you have to renovate your house from top to bottom, the knockdown rebuild is more economical.
The cost of renovating ranges from $2000 to $4000 per square meter.
Because of this, the price for a room renovation can quickly go as high as $150,000. But for a knockdown rebuild, you can get a brand new home for as much as $170,000.
Conclusion
Whichever you choose, remember to always go for the more economical and practical option. Note that it is easy to overcapitalise on your home improvement project, which can lead to financial troubles down the road.
Besides the financial consideration, the condition of your house, local regulations, and the market value are also significant. Weigh all these factors before deciding whether to rebuild or renovate your home.
If you’re considering renovating your home, contact MKJ Projects for a consultation. We have extensive experience renovating homes and can help you get the results you want.
