Renovate vs. Rebuild
Depending on the overall project, however, sometimes starting from scratch can be more cost-effective than a large scale renovation. This largely comes down to the fact that renovations can accumulate, many people will find new projects to work on as a renovation is underway, whereas a new build has more of an upfront cost. Hidden costs can also pop up when renovating a home, this is why we always recommend that our clients consider this when choosing a budget.
Before you start any project, you will have to seek council approval. This is where you will find out what you can and can’t do to your property. This is often a big contributing factor for those deciding to rebuild or renovate. For example, heritage listed homes cannot be demolished and have a number of rules and regulations in place to preserve their character.
What State is your Home currently in?
Perhaps you have noticed your home starting to show its age and in need of renovations, however before we establish what needs to be done, we will inspect the overall structure of your home. If we find that your home is not structurally sound, there may be a deeper issue that cannot be resolved with renovations. However, this does mean that we can create a stunning new home from scratch for you.
What Aspect is Your Home on?
To best enjoy your home, we recommend that your home be on a north-eastern aspect. This allows your home to get the best lighting all year round. A renovation won’t generally be able to fix the problem, however, a new build can fix this.
Will I be overcapitalising?
Before you begin any sort of construction project, it’s important to do some research. See what other homes in the area are valued at and base your decisions on that information. Even if you don’t intend on selling the home after construction is completed, you’ll want to have it evaluated. Based on the research, you can then make decisions with the renovation or new build so you avoid over-capitalising.
What Type of Homeowner are You?
Finally, establish how you view your home. Do you want to embrace the character and personality of the house that you made into a home? Or are you ready for something fresh and new? You may also want to consider how you live in your home. Do you need it to be practical or are you someone who wants to embrace trends? These personal questions can then help you make the decision whether to rebuild or renovate.