If you are thinking about a knock down rebuild, the last thing you want to do is rush into the decision.
We know there comes a time in a lot of homeowners’ lives where they feel like their property is simply not cutting it anymore! It could feel too cramped and small because you have an expanding family, or it could simply have had an awkward design to begin with.
When this happens, if you don’t want to move home, you generally have two options to select from: you can knock down the property and start the rebuild process, or you can simply make some renovations.
Most people tend to go for the latter option, yet there are several scenarios whereby it makes more sense to choose a knock down rebuild.
If this is something you are thinking about, make sure you do not rush into the process, though. After all, it is not something that can easily be reversed, is it?
With that in mind, continue reading to discover some of the main things you need to consider before opting to knock down and rebuild your property.
# 1 – Viability of the project
There is only one place to begin, and this is with the viability of the project. You need to make sure that it is possible! After all, you can’t just knock down your property yourself without a second thought.
Instead, you need to consult with an expert to make sure that this is a possibility. Your current property may not be compatible with a contemporary design from a registered building company.
If this is the case, a renovation may make more sense.
If your property has an odd layout, though, it may simply be impossible to knock out a wall, build another floor, or add rooms. In this case, rebuilding your property from the ground up is an obvious solution.
However, this is not something you should assume without consulting an expert first to ensure this is the case.
# 2 – Schedule
Next, the schedule is another thing that you need to look at as well. Rebuilding and renovation are both time-consuming.
In most cases, a knock down rebuild is going to take longer than a renovation, but this is not the case. After all, some renovations can be very complex and so they can end up taking more time because you need to work within the building’s existing constraints.
This is why you need to conduct research and put an adequate budget and timeline together before you start looking into the contractors to work with on your project.
Remember, there are things that can slow construction down, including legal challenges, weather, design complexity, and property size, so you will need a bit of leeway. After all, there are some things that are out of our control!
# 3 – Condition and age of the property
Aside from the factors discussed so far, you need to think about the condition and the age of the property. A full rebuild may not be required if the property is in good condition.
Instead, you could give your property an updated look by modernising a few rooms, touching up the walls, installing new flooring, and renovating outdated bathrooms and kitchens.
If your property is old and it is starting to show signs of wear and tear, it may prove to be more cost-effective to start from scratch instead of just fixing the main problems.
If your property has any period features associated with old homes, you will lose this with a rebuild, so do keep this in mind.
# 4 – Budget
Last but not least, you need to think about the budget. If your budget is below $200,000, knocking down your home and rebuilding it may not be the right solution for you.
You need to be realistic about all of the costs entailed and put together an effective budget. After all, the last thing you want is to run out of funds midway through the rebuild project. That would be a nightmare!
So there you have it: four of the most important factors that you need to consider when thinking about a knock down rebuild.
There is no denying that knocking down a property and rebuilding it can be beneficial and profitable in a lot of instances, yet you need to make sure that it is right for your situation.
By considering the four elements that have been discussed above, you can go a long way to making certain that this is the case.