Renovate or rebuild an old property? Which one would you like to choose? Well, it’s partly a personal decision, but there are some other factors that you should consider to get the best possible results in time.
If you’ve read the “Home Renovation Melbourne” page, you know we’ve introduced different approaches and considerations that are important for achieving the best results. In this article, we’re going to break down the differences between renovating and rebuilding to provide you with a good insight into how these 2 approaches work in the construction industry.
A Quick Review: Renovate vs Rebuild
| Remodel vs Rebuild |
Remodel or Rebuild |
Renovate |
| Expected Residency |
The best option for long-term residency – more than 10 years |
The best option for short-term residency – less than 10 or 5 years |
| Budget |
Requires more money and a specified budget |
Requires less money in a shorter period of time – but costs may increase in the long run |
| Customizations |
Offers a great range of customisations |
You have fewer options to customise different areas of your house
|
|
Current Condition and Structure of the House |
It can help you design sound and solid structures for better durability |
You cannot customise much, and the foundation can remain |
Should I Renovate or Rebuild?
“Should I renovate or rebuild my house?” If your house is getting a little shabby, it is probably in need of some improvements and enhancements. If you want to add some minor features to serve your short-term needs, renovation is a better option.
However, a complete rebuild will help you establish a completely new living place where your family can benefit from its comfort and added features. This is a big decision that requires you to take your time before jumping into the process, and there are some essential factors to consider that we will be explaining in this article.
To make the right decision, you will need to take into account your needs and budget. These 2 factors are more important than anything else, which can affect your project fundamentally.
Knocking Down House and Rebuilding!
Renovate or rebuild! Is it better to remodel or rebuild an old house? Which one will result in better outcomes in the short and long periods?
These are the important questions you may have in your mind when starting your own project to renovate or rebuild your current living place to create a better sense of life for your family. Knocking down your house means you are going to spend a lot of money, so you’d better work with a professional expert to come up with a trustworthy plan.
One of the greatest benefits of rebuilding an old house is that you’ll be able to deploy customised features and add-ons to your property. So, it would help if you read our custom home builders Melbourne page to find out more about how custom features are created and added to your building.
Renovate or Rebuild: Managing the Costs
Remodelling or rebuilding a home is a full-time commitment that involves a time-consuming process. For this reason, your expenses may go high if you can’t manage the time spent on your project. In fact, time is a determining factor in construction projects, and it directly impacts the cost of the project.
In addition, renovation can be more costly than you think. A major renovation or remodelling that involves structural changes will require much of the process and expenses. In this case, it pays off if you can work with a professional construction expert and architect who will provide you with the best development plan. Overall, a major renovation for an old house may take up to 8 or 10 months for a small house, and it could be up to 1.5 years for a larger property.
What to Consider When Deciding Whether You Should Renovate or Rebuild?
● The Age of Your House
While nearly any type of building can be renovated or remodelled, it doesn’t mean it should be. In other words, there are some risks regarding older houses that are prone to serious damage. In addition, it can be a time-consuming process to renovate or remodel an aged building compared to rebuilding it.
The most critical problems are structural defects, water damage, and sewage system issues. As a result, it can be expensive for you to remodel or renovate an old house, so it’s recommended to speak with a construction expert before taking any step.
In many cases, rebuilding an old house brings the reassurance of a new building with updated and modern materials. So, it requires less care, maintenance, and unwelcome surprises that might be caused by different issues.
● The Size of Your House
If your family has grown in recent years, but your house hasn’t, it’s time to make up your mind and renovate or rebuild your living place. You may be facing different questions and issues in this case, so many property owners think buying a new home is the best option.
However, experts can help you to improve the available place in your house by renovating or rebuilding it. Remember that a home renovation can significantly increase the size of your place if everything is handled carefully and professionally.
One substantial benefit of renovating or rebuilding an old house is that it boosts your property’s value after completing the project. So, increasing the available space in your home is a great contributor to achieving this benefit that could be so important when it’s finally time to sell.
● The Materials and Architecture
While all houses and buildings can be renovated, it’s crucial to consider the materials and architecture of the house at the very first stages. Remember that if your house has been built with expensive materials, it will be reflected in your expenses.
Older properties may be constructed with different materials compared to those modern houses. So it’s essential to think carefully about the products you use when working on an old house or building. A big part of this process is respecting the charm and architecture of the original property by ensuring your chosen materials sit seamlessly in the building.
As a result, think of how much renovation will cost for you to understand if it’s a better idea compared to rebuilding your house or not.
● Your Budget
If you’re tight on money, it’s better to choose to remodel or renovate your house since these options offer cheaper ways. Typically, remodelling an old house will cost less than a whole house rebuild, and choosing among these options depends on your specified budget.
“Renovate or rebuild?” It’s really a hard question to answer. To answer this question, it’s a good idea to make a list of features and customisations that you want in your new house. It will help you to have an overall estimation of the required costs to decide which option best fits your situation.
Final Words: renovate or rebuild
If you plan to be in the house for a long time, it is usually wiser to think of rebuilding your house and making everything from scratch. It is a better choice if you want to live in the house for more than 5-10 years. In case you want to sell your property in the near future, experts recommend remodelling is wiser.