Often we have clients call us up to discuss their project and they’re never sure whether it’s best to renovate the existing home or knock it down and build a whole new house. It’s a tough decision as it’s one that must be made very early on so time and money aren’t wasted going down the wrong path. So how do you make that decision? We’ve got a number of questions here that you need to answer in order to know your decision.
In many older suburbs in our capital cities there are council-imposed protections on some properties built within a certain time period which prevent you from knocking down the existing home, changing the frontage of the existing or restrict the height in which you can raise the existing home. If you home has one of these overlays on it then you will be prevented from knocking it down and rebuilding a new home in its place as it will alter the streetscape. If you are unsure, check with your local Town Planner.
Get in contact with your local real estate agents and find out what is currently selling and how much you can spend before over capitalizing. Although we would love it if every client could spend 1 million plus on their home, it just isn’t realistic to expect every block to provide a return for this build size.
Are you looking at adding an extra room or making your kitchen larger or are you looking at making space for your growing family? Do you require significant reconfiguration of the existing space or is it easy just to add on a few extra rooms? If you are looking at a large-scale renovation this is where the costs start pushing up to becoming more expensive than a new build. So, if there is a significant amount of work to be done then maybe knocking down and starting again is the better option. Speak to a qualified builder who specialises in renovations to assess your existing home so they can advise on your best option.
Is you block of land on a sloping or steep block or is it a fairly flat block? It is much easier to renovate the existing home on a steep block if the footings and foundations are already in good order. It is best to continue to use them, rather than knocking it all down and then putting in completely new footings and foundations in place. This can add significant cost to a new build, so renovating could be the best option to save costs on a steep block. There is also the option to build in under on a steep block which could save you time and costs as well.
Why did you buy the house and land? Is it because you love the frontage, it’s cute veranda, it’s quirky rooms inside or it’s large entertaining deck out the back? Or did you buy the house and land because of the leafy street, the great views of the city or the locality of the property? If you’re not in love with the home knock it down and start again. But if you love the existing home, work with its character and charm and renovate it into something really special.
Do you love the sleek clean lines of a new home, the polished concrete floors, minimalist finishes and well thought out layout? Or do you like the character charm of an old cottage, ornate ceiling decorations, VJ panelling and high ceilings? Simply, do you like old or new? If you like new, you can renovate your old home, but it will still have a lot of those old home features that you need to be sympathetic to when designing your renovation, so it may be best to start fresh with a new home.
Do you need to get everything finished before the in-laws turn up for Christmas or do you have a little more time up your sleeve? Do you have time to be involved in the design and build? If you are a time poor person and want something with less involvement. Then a new build is the way to go. All renovations require a higher level of input and on the fly design amendments to ensure the highest possible quality finish.
If you’re still unsure what is the best option for you moving forward, get in contact with a builder experienced in both renovations and new builds. Call us at Tide Constructions, we can meet with you to undertake a site assessment, feasibility report and guide you with the best way forward.