If you’ve outgrown your existing home but want to stay put, you have two options available. You can transform your existing home through a renovation or knock it down and rebuild the home of your dreams. While both options have their advantages, rebuilding is the only real way to start fresh. If you love your local area but want to expand your living space, rebuilding is a great way to hit the reset button and launch into the future. While going down this path may seem scary, rebuilds are typically cheaper, more convenient, and less stressful than buying new or going through a major renovation project.
If you’re choosing to renovate or rebuild, the following five reasons are worthy of your consideration:
1. Design the home of your dreams
Renovating your home is a great way to upgrade certain features, including your kitchen, bathroom, and outdoor area. There are limitations, however, especially if you want to enjoy more living space or open-plan living areas. Renovation projects are confined to the existing architecture of the building, and compromises need to be made. In contrast, a knock down rebuild offers complete freedom over the layout of your home. You can add space for elderly parents, build a duplex to generate income, or make room for an expanding family or new business venture.
2. Take advantage of modern living
Most people prefer modern homes because they have a better flow and allow for greater interaction between environments and family members. Renovation projects can make your home look more modern. For example, lots of people choose to renovate dated kitchens and bathrooms to take advantage of innovative design and modern appliances. There’s only so much you can do, however, with building inhabitants still limited by outdated layouts and spatial constraints. Rebuilding your home from scratch is a great alternative for people who want to integrate modern features into the core of the building.
3. Upgrade your lifestyle for less
If you truly want to upgrade your home, you can either buy another property or perform a rebuild. Buying a new home allows you to change location, buy bigger, or buy smaller to meet the needs of your lifestyle. Make no mistake, however — buying a new home in Australia is more expensive than ever. With property prices going through the roof and interest rates set to rise, buying a new or established home is unrealistic for many. Instead, you can knock down your existing home and start from scratch. Rebuilds can be cheaper than buying new, and surprisingly, they’re not much more expensive than substantial renovations. In addition, pricing is transparent and you can avoid stamp duty costs, agent expenses, and mortgage costs.
4. Add value to your home
If you live in a desirable Sydney suburb, prices are rising all the time. However, some homes gain value much faster and more readily than others. Modern homes with fantastic street appeal are the most likely to rise in value, and dated homes are the most likely to slide. If you want to increase the value of your property while riding local trends, a rebuild is the best solution. While the worst house on the best street has a certain appeal when you’re looking to buy, property sellers should always focus on creating a desirable property. When you knock down your existing home and build something fresh, you can meet the needs of the local market and exceed your own price expectations.
5. Leave the hard work to the experts
When deciding whether to renovate or rebuild remember this; major projects can be time-consuming and stressful, especially when you go it alone. Homeowners often make mistakes, some of which can be very expensive. This is especially true for domestic renovations, which many people attempt with little or no experience. Renovation disasters are nothing new, and even simple projects can easily get out of control. The best advice is to call in the experts and give them a fresh slate. Instead of inconsistent design schemes or homes that straddle two eras, you can obtain a quality finish that adds value to your property and meets the needs of your lifestyle.
In many situations, when pitting renovate vs rebuild against each other, there’s only one winner! At Meridian Homes, we provide a complete knock down rebuild solutions for Sydney residents, have been successfully rebuilding homes for many years and are well versed in every step of process. If you’re ready to reclaim your property and build the home of your dreams, we’re here to help. For more information on our process or expertise, please review our website or contact our friendly team today.