Maybe your family is growing, or you’re starting to outgrow the house you live in, or your home has been around for so long that is falling apart and needs some serious repairs and updating. When you’re considering major changes in your home, it’s easy to opt for a touch of renovating. However, another option that might be the most cost-effective in the long run, is knocking the home down and rebuilding a brand new one in its place.
Knock down rebuild vs renovating
One of the biggest advantages of knocking down and rebuilding your home is that it can be easier on your wallet than having renovations done. It is also much safer as many old homes were built at a time when the building standards were very different to current guidelines.
Renovations can become extremely complicated and, depending on what’s found while going about a renovation, they can sometimes reveal many unplanned and unforeseen issues. There are also expenses for labour, design fees, cost of materials, council fees and permits, repayments, and inspection costs. If any unforeseen issues do occur, and they are common when renovating older buildings, all these costs can quickly increase. A lot of these issues won’t become revealed until work has already started and they’ll have to be addressed to complete the renovation. This can turn an initially straightforward project into a complicated beast that becomes a money pit to add to your stress levels.
Moving, on the other hand, means you’ll be paying stamp duty, and this cost will depend on where you move to, what you pay for the new home, and what type of property it is. Factor in any refinancing costs, legal fees, inspections costs, agent fees, and even the cost of conveyance. Moving away from friends, family and the community you love may not be the option that’s best for you either.
When you knock down and rebuild, you won’t need to pay any stamp duty. You’ll also not have to pay for property that may be outside of your price range. Plus you’ll be right where you’ve always been.
The trick to getting a great knock down rebuild is… (drumroll)… finding an experienced builder you can trust to undertake such an important project of course! An unscrupulous builder will cost you a lot of money, time and stress with no guarantee that you’ll be happy with the home once they’re finished with it.
Always do your research, get as much information from people who’ve built with that company you’re considering and find out what their experiences were before, during and after the entire home build journey. We’ve written about how to choose a home builder, plus our guide to avoiding sneaky builders is a very good read on our price list request page.
If you choose us for your project then you can rest assured as we are genuine knock down rebuild experts. We’ve rebuilt hundreds of homes in the Sydney and Wollongong area and our glowing reputation stems from our Big 4 Guarantees and award-winning customer service. We’ve even put together packages for our most popular designs for knock down rebuilds.
Improving the value of your property
Property can have an increased appreciation when it is located in an established area. Often, when you live in an established area, there is no new land available for you to move to. A knockdown and rebuild will allow you to live in the same locality on the same plot, but in a new and more modern home. This does not just improve the quality of your daily life by leaps and bounds, it also significantly adds value to your property.
Although a knockdown and rebuild may seem a radical option compared to a renovation, the benefits are major and is well worth looking into if you find a trusted and reputable builder.