RENOVATING verse KNOCK DOWN REBUILD
Whether you are looking to update your house to sell, expand for your growing family, or create the home you’ve always dreamt of living in – the first question is often, should I renovate or knock down & rebuild?
A few factors come into play;
Should I renovate or rebuild?
1. BUDGET
This is probably the number one factor which comes into play. Home renovations can potentially have a much smaller outlay, although, can uncover unexpected costs and your initial ‘outlay budget’ will grow as time goes on – there’s a reason that people say renovations never end. Knock-down rebuilds generally have a higher initial cost, but will offer better value long-term… if you do eventually decide to sell, a newly built house will cover any initial investments.
2. STRUCTURAL WALLS & LIMITATIONS
You may dream of stacker doors which flow onto a large balcony from your bedroom, or a servery window from the kitchen… Structural walls can create major limitations and it’s important to have them properly assessed prior to having your heart set on an idea.
3. EMOTIONAL & AESTHETIC VALUE
If you love the character and charm of your current home, renovating makes sense. Although, the architectural options which are available now can potentially recreate the features you love – without compromising on what your current dwelling may lack.
4. CONDITION OF YOUR CURRENT HOME
Ensure you have a highly credible structural engineer assess your home prior to commencing work. Some structural issues can go unnoticed by an untrained eye and can cause major issues down the track. If only minor updates are required, a renovation is likely ideal! Especially if your home is the right size for your family & enables you to live an enjoyable lifestyle. If major structural changes are required, rebuilding may save stress and be more cost-effective.
5. DESIRED CHANGES
There are common goals between renovating or rebuilding: Expanding living spaces, updating layout & functionality, structural or safety improvements, boosting property value & future proofing. Both can be achieved through either choice, so it’s important to explore both options and weigh up your advantages and disadvantages of both.
Key Takeaways...
Advantages of rebuilding
Advantages of renovating
- Have a clear understanding of all costs involved from the very beginning
- Custom designed home to suit your habits – creating ease of living
- Lower maintenance costs (new materials and technology)
- Better energy efficiency
- Builders warranty to ensure peace of mind
- Maximises property value
- Inital budget figures & outlays can be cheaper
- Retains original character & charm
- Can be a shorter timeframe (depending on scope and lifestyle)
Whichever option you decide – our favourite outcome is that you get to keep your beautiful slice of the Sunshine Coast lifestyle & there are experts in building Sunshine Coast homes who can bring your vision to life. If you are weighing up these options, the team at Pacific Blue would love to discuss how we can help you.
