Picture this: you’ve been living in the same house for 20 years and you suddenly want a change in scenery. You want to update the utilities in your kitchen, you want to fix the tiling in your bathroom, and you even want to add a deck to the home. And you’re thinking, “do I just move out and find a house with all of this and more? But my neighbourhood is so good I don’t want to leave.” This would be a tricky decision for anyone to make. But here you have two options, you can either knock down the entire home and rebuild it from top to bottom or renovate. Here are some tips and tricks in deciding whether or not you do a knockdown rebuild or renovate the home entirely.
1. Figure Out a Budget
The first step in making any changes to the home is to figure out a general budget. By figuring out expenses and how much you are willing to spend, you’ll be able to make the decision on whether or not you want to knockdown rebuild or renovate. It is also important to consider how the costs will play out in the future too. Once this is sorted, then you can begin to make the necessary changes to the home.
2. Find Out if Knocking the House Down is an Option at all
If you’re set on knocking down your house, you need to make sure that is it a viable option in the first place. It can be cheaper to build a new home on flatter land but be more difficult and costly on a slope. Some areas may not even allow it. You also need to take into consideration the age of the home and if doing a knockdown rebuild could just ruin the historic value it currently has.
3. Is there Room to Renovate in my Current Home?
Thinking about renovating the home is easy enough, but putting the plan to action might be a bit more difficult than you initially thought. You need to ensure that your home is able to be reworked and that the structure of the home won’t be changed too much or damaged. If the structure of your home needs to be changed to make sure renovations are possible, then you might need to reconsider and come up with a new layout completely and just do a knockdown rebuild instead.
4. Check the Real Estate Value of the Area
Before renovating or doing any sort of knockdown rebuild, take into considering the property market and the value of the home in your area. You need to make sure that you won’t be overcapitalising and in turn potentially losing money. The choice to do a knockdown rebuild, in comparison to renovating the home can be a difficult decision. But with these tips and tricks in mind, the decision hopefully gets easier and suits whatever you wanted from this process.
Stuck on whether you should knockdown rebuild or renovate your home? If you have any questions and would like some advice, then don’t hesitate to get in touch with our team on 1800 184 284 or book a call online at a time that suits you.
Let us do the legwork for you.
- We’ll ask the right questions to better understand your needs
- We’ll create a recommended shortlist ideally matched to you
- We’ll answer specific questions or concerns related to home building, land purchasing or financing
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