It’s a choice that many developers, investors and families find themselves making. When extensive improvements need to be made but the structure presents limitations and potential risks, they find themselves asking… should I renovate or should I detonate? For many, to demolish and rebuild your home may seem like an extreme solution. After all, we do have a lot of emotional attachment to our homes, and the idea of destroying and rebuilding a new home might not even occur to you if you’ve grown to love the old place. We have a tendency to look at the past with rose tinted glasses at times when we should be looking forward to the promise of the future.
If you can curb your nostalgia and look to the future, you might just see the advantages of rebuilding your home rather than renovating it. To assist you with this enormous decision, we’ve composed a list of reasons why you should rebuild your home and how it can benefit you in the long term.
1. It May Well Be Cheaper
Believe it or not, a knock down and rebuild can be up to 30-40% cheaper than carrying out extensive renovations. The costs associated with renovating a home are subject to much higher GST than the costs associated with rebuilding. What’s more, a newly rebuilt home will likely be more profitable and cost effective in the long run as you won’t have to worry about your fixtures, fittings and infrastructure being slowly eroded by time.
If you’ve found yourself committing to more and more repair and renovation work on your property recently, it may be a better idea to rebuild your home now and save later.
2. It Can Save You Hassle & Headaches In The Long Term
If your home is an older building you may find that the longer you spend there the more things go wrong. You may live in a property that was built in a time when building codes and regulations were far less stringent. What’s more, you might frequently come into contact with failed quick fixes implemented by cowboy builders and the amateur efforts of home owners who weren’t thinking much about the long term.
These can add up over the years into quite substantial costs and logistical headaches, especially if you’re renting your home out to a private tenant and keep having to go back and forth.
While rebuilding your home can take a great deal of project management, it can save you a lot of hassle down the track.
3. The Old Place No Longer Suits Your Needs
A home that was perfect for you 10 years ago might not meet your needs in the same ways now. You might have a new baby on the way who could do with a more spacious bedroom as they grow up. Or you may pine for more storage space to keep all your belongings which are slowly turning into clutter. You feel that you may have outgrown your home but you love the location too much to seriously consider moving elsewhere.
A rebuild can offer you the best of both worlds and keep you from needing to compromise.
4. You Can Incorporate More Eco-Friendly Features
A rebuild may actually be better for the environment in the long term. When you demolish your home, much of what you retain can be reused and repurposed (more on that later). What’s more, you can build in more eco-friendly features like better windows and doors, better insulation, solar panels and solar water heaters.
Not only can these reduce your new home’s carbon footprint, they can significantly reduce your energy bills for years to come.
5. You Can Build Your Dream House Rather Than Settling
When you move into a home, you’re moving into something that’s either been built to cater to someone else’s vision or a mass produced unit that’s designed for a large audience at the expense of character. In either case, there’s an element of settling that comes with your old home.
When you rebuild your home, however, you can build your dream house to your exact specifications rather than having to settle.
6. Say Goodbye To The Little Things That Bothered You About Your Old Home
It’s okay to admit it! As much as you love your existing home there are things about it that irritate you. From that patch of mould in the downstairs bathroom that refuses to go away, to the drafty first floor landing. They might not be deal breakers, but they can affect your enjoyment of your old home.
When you rebuild, however, you can benefit from a modern home design that’s practically perfect in every way!
7. Rest Assured That Your New Home Is Safer Than Your Old Home Ever Was
Because your new home is built in accordance with the latest building codes and constructed to the highest standards, you have the peace of mind that comes from knowing that your new home is safe and secure.
8. Grow Your Investment
The limitations and frustrations of your old property could not only make it harder for you to sell up later on down the line, they can also place a cap on your ROI. While you may have no plans to move any time soon, a rebuilt home can grow your investment much more effectively, as well as ensuring that you get the price you want when the time eventually comes to sell up. Why resign yourself to limitations when today’s investment can pay serious dividends later?
9. You Can Still Retain The Old Property’s Character & Charm
As previously stated, when you demolish your old home you may still be able to retain, reuse and repurpose many materials such as beams, bricks and pipework. These can help you to retain the charm and character of your old home while overcoming its limitations.
10. There’s Nothing Like Moving Into A New Home That’s 100% Yours
The final reason on our list won’t be apparent to you until you first move into your newly rebuilt home. When you get that indescribable feeling that you’re settling into a property that is completely unique and 100% yours. Believe us when we say that your future self will thank you for that feeling!