If you’re thinking about making changes to your existing home, you might be thinking about renovating or rebuilding, and which one is right for you?
There are a few things you need to think about before you make your final decision so let’s take a look at some of the most important factors when it comes to deciding whether to renovate or rebuild.
What’s Your Goal?
The first thing you need to ask yourself is what is your ultimate goal?
Do you want to create a brand new home without moving? Do you want to retain some of the character of your existing home?
Do you want to hang on to happy memories in your home and just make it more modern or beautiful?
Do you want to start with a completely blank slate and create a new home for new memories to be made?
Ask yourself these questions to help you find the answer as to whether a renovation or a rebuild is right for you.
Can You Get Permission To Rebuild?
If you are thinking about a demolish and rebuild, speak to your local shire to find out if there are any restrictions on demolishing or renovating your property.
There could be local planning laws that prevent you from demolishing your home or changing it significantly.
How Significant Would A Renovation Be?
Think about what kind of changes you might like to make to your existing home.
Do you just need another bedroom with an ensuite? A bigger living space? Or would you like a design that is more open plan and to move rooms around completely?
If an extension would meet your living requirements, it could be much quicker and cheaper than a complete demolish and rebuild.
On the other hand, if you want to move rooms like kitchens and bathrooms, and want to create a whole different look and feel for your home, a rebuild might be the right way to go.
Would You Want To Change The Orientation?
Changing the orientation of your home would most likely need a complete rebuild.
If orientation is an issue with your current design, a rebuild might be the better option for you.
Which Is Cheaper?
Let’s face it, we all have a budget in mind whether we decide to renovate or rebuild.
If you’re on the fence about which to do, you could get quotes for both options and see what the cost difference is between the two.
Then look at your budget and see what’s going to be most manageable for you cost-wise.
Ongoing Home Ownership Costs
It’s not just about the initial costs though. Think about the ongoing costs of maintaining your home.
The cost of maintaining an older property is always going to be higher than those of a brand new build.
So when you’re comparing quotes for renovating and rebuilding, remember to factor in the ongoing maintenance costs you’re likely to experience in the next few years as well.
Can You Handle The Disruption?
Renovations and new builds are both disrupting to your everyday life.
Look at how long each one could take (and then add a bit more time, as building works don’t always finish bang on schedule), and think about how your life may be disrupted.
For renovations, you’ll be living in a building site from start to finish.
For a rebuild, you’ll have to find somewhere else to live for the duration of the project. This could also add significant costs to your new build if you have to pay rent as well.
What Would The Value Be Afterwards?
Speak to a few local real estate agents about your current home value, and what the valuation may be if you renovate and if you rebuild.
Depending on your local area, house style, and current market conditions, you may find a renovation may yield a higher value than a rebuild. Or it could be the other way round. Either way, consider this as part of your decision of whether a renovation or a rebuild is right for you.
Need help deciding whether to renovate or rebuild?
JFK Custom Homes has a team of luxury builders in Perth who can help you discover which option is right for you.
If you decide to rebuild a custom home in Perth, we’ll be with you every step of the way. Call us now on 08 9355 1788.