If you’re dealing with a property that’s seen better days, weighing up your options can be half the challenge. It can all easily become overwhelming.
The truth is, renovations can often be more suitable than knock down rebuilds, but there are definitely some key aspects to keep in mind. In this post, we’ll run through what you need to consider before reaching for that sledgehammer of yours.
Keep costs in mind
If a renovation is going to mean significant restructuring, then costs will quickly add up. After assessing the financials around this, it’s common to think that rebuilding would be the better path to take. However, often in knock down rebuild cases, prices also can quickly add up with variations to project home standard inclusions. Renovating can often be the better option as projects can be completed in stages to keep costs staggered, and you can also choose your own fixtures and fitting, possibly saving money along the way.
Carefully consider the age of your property
Homes aren’t built the same way they were 50 years ago, and this is often where renovating carries more advantages. If your home features detailing that you just simply can’t get with modern techniques, it might be best to preserve them through renovations instead. It might cost you a little more, but preserving the history definitely far outweighs these downsides.
You may also need to check with your council surrounding any heritage regulations if your property falls within this category.
What is the market like?
We all know the Australian property market is known to fluctuate, and it’s only going to keep shifting. Because of these changing tides, you need to consider whether knocking down your property and rebuilding in your suburb is a good option, or whether renovating your property to be in keeping with the suburbs history is actually the smarter option.
While knocking down and rebuilding may have been prime in your suburb back in the day, it may not be now – so do your research before you take any other steps.
Renovations demand a lot of attention and time to complete. If you work full-time or you have a family, downtime is probably not something you have to work with. Having builders roaming around your house for an extended period of time might not suit your lifestyle, so think smartly about whether it’s something you can deal with for the foreseeable future.
However, knocking down and rebuilding also holds it challenges. Where will you live whilst the build is happening? Will a knock down rebuild actually take longer than a renovation would? These are all things you need to consider.
Above all, if you’re planning to rebuild or renovate, we recommend getting in touch with a team of experts who can provide you with the support you need. Call Home Mend Australia now on 0411 116 969. We’re always more than happy to answer any questions you may have around your vision.