‘Do I renovate what I have, or knock it down and start again?’
It’s a question our builders get asked a lot and it’s one we always try to answer to the best of our ability.
Of course, there’s always the obvious question to get out of the way, can your budget support a rebuild or a renovation? But what we try to provide is a greater depth of thought on some of the questions that may not immediately jump to mind when thinking about renovating vs rebuilding.
Here are a few things to consider that may set you on the right track to choosing whether it’s best to knock it down or improve what you have:
- Is knocking down your home even an option available for you?
Council planning laws are growing stricter every year and if you’re unfortunate enough to live in a suburb where new developments are tightly controlled, your only option may be to renovate.
- How significant are your renovation plans?
To phrase this question a different way ‘how drastically do you want to change your floorplan?’
Some renovators quickly realise that their plan would be far more easily realised by demolishing their old home and starting again, and that could be the case for you too.
- Can you work with what you already have?
This leads on from the previous question. If you find that nothing about your home is improving your current living circumstances, consider carefully what can be done to change that. If enough small changes can be made to have an overall effect, renovation might be the best option.
- Have you done your real estate homework?
You should know what homes in your area of a similar age are selling for before you make any commitments. There’s nothing worse than undergoing extensive renovations only to find that it hasn’t added any additional value to your home.
Speak to as many agents as you can and average out their evaluation figures. If the math doesn’t add up, it might be time to build something new.
- Are you willing to go without a home for extended periods?
This is the most obvious question yet one of the hardest to answer for many homeowners. While renovations usually allow you to live in your home somewhat functionally, a complete knock-down and rebuild makes this impossible.
Consider carefully how this may affect your lifestyle and whether your current living circumstances allow for this level of disruption over what may be many months of construction time.