Renovate or Rebuild? Which Is The Right Choice For You?

In the perfect suburb, on the ideal street surrounded by gorgeous parks, exceptional schools, and wonderful neighbors. You love where you live, and you love your home, it’s been good to you over the years. But it’s not quite up to the challenges of your current living situation. So, what do you do? Renovate? Or detonate?

Renovate

Renovating at first can seem like a viable option, even the easiest quick fix to overhaul your home. But there are a few factors to weigh up to ensure this is cost and time effective, while delivering the end result you want for now, and into the future.

Family dynamic
For a young couple without children, living on a building site for a length of time may present only a few challenges. But for a family with children, and even pets to consider, this option could prove disastrous. Living with minimal use of the kitchen, bathroom and family living areas can create a high level of stress and negatively impact on the households’ daily routine. With the extra dust and dirt as an unwelcome side effect too.   

Budget
A key component in any home, a budget is quite often difficult to stick to during a renovation as little surprises pop up throughout the project. An unexpected load bearing wall, a pipe that ‘shouldn’t have been there’, outdated electrical, as well as hidden structural issues that present themselves. Should you choose to go down the renovation pathway, ensure you hold a minimum of 10% of your total budget to control your spend.

Disjointed
If you’re renovating to add extra space to your home, ensure your choices are aligned with the current look and feel of your home and match items such as flooring, windows, doors, lighting to avoid your addition looking ‘tacked on’. You might need to make considerable upgrades throughout your home if you want to achieve a seamless finish.

Detonate

Demolishing your existing home to make way for a brand new one is a wonderful opportunity to remain where you want to live, and retain the precious equity in your land. You may even have the opportunity to subdivide your block and turn a profit on the unrequired land, or add an investment property to either rent out or sell depending on your financial goals.

Design
Starting with a blank canvas, you can design your new home to include all of the features and modern conveniences you have been missing in your current home. Start by selecting an elevation that speaks to your style and move through to a functional floorplan that fits the way your family wants to live. No longer do you need to endure an outdated kitchen, a tiny master suite or sharing a family bathroom. If you’ve subdivided your block, a two-storey home design will allow you the internal footprint you’ve been craving, without sacrificing the necessity for an outdoor area.

Costs
Expenditure can be much easier to control on a new home build as you plan up-front and design to meet your ideal budget in collaboration with your builder. Once your design has been finalized, you’ll be assigned a New Homes Administrator who will work with you, to manage your budget on the selections to finish your new home beautifully.

Materials
Materials have evolved significantly over the years to provide an abundance of options that are both elegant and enduring, such as hardwearing stone benchtops, which are available in many hues and textures. Tiles have evolved in status to a showcase piece. Tacky patterns begone, replaced with a selection of sophistication in marble, natural wood look, terrazzo or classic subway lay in a pattern of your choosing.

Generally speaking, the reality is for the price of renovating your old home, you could build your brand-new dream home where imagination is your only limitation. You can learn more about our Demolish & Rebuild Approach here.