Renovate vs Rebuild: Which Is Right For You?
The decision will impact your home’s value and determine the cost, length and outcome of the project.
Permissions
Before you even start weighing your options, consult your town council to ensure demolishing your home is even an option. In some areas, council laws prohibit the tear-down of houses over a certain age or homes of specific historical importance from being significantly altered (especially with regards to their street appearance).
Budget
Renovation is a good option for increasing the value of your house on a tight budget. Updating an old kitchen or fixing up your bathroom won’t cost an arm and a leg, yet they’ll increase your home’s value.
On the other hand, when it comes to major changes, renovating will almost always cost more than building from scratch. While brand new homes can be built speedily, making use of smart systems and modern, sustainable materials that maximize efficiency and time, renovation is a personal process that’s time consuming and labor-intensive.
When it comes to rebuilding, remember that you’re making a huge commitment—once your house is teared down, there’s no going back. You’ll have to budget carefully to ensure you can get everything done, allocating additional money for unforeseen costs.
Ultimately, consider how your home’s value compares to others in the neighborhood. How much do you anticipate this figure will change after you rebuild or remodel? Is your answer, plus a 10% cushion for unforeseen costs, worth the cost and inconvenience?
Feasibility
Another vital consideration is whether or not your home, in its current state, can support your desired renovations. You might want to bring in a structural engineer to check for cracks in the foundation and water damage.
Ask contractors about your electrical situation like rewiring. The same goes for plumbing—will it become major work because you unearth further issues?
Not to mention that demolition could reveal toxic building materials, especially if your home is older. Toxic substances have to be removed by a licensed professional, significantly increasing your cost and project timeline.
Time
The amount of time for either a renovation or a rebuild is all dependent on the changes you want to make. If you’re altering the fundamental layout of the house, then construction and demolition for a renovation could be relatively complex, leading to a longer project timeline. Meanwhile, a full teardown takes only a matter of days, and new construction could begin right away.
But if you’re only performing simple renovations on a couple of rooms, this could be relatively quick, while a rebuild takes on average ten months with Atmos. Are you willing to spend this much time? And don’t forget to factor in the cost and inconvenience of staying elsewhere in the meantime. Plus, weather conditions, mechanical issues and material acquisition can easily throw off the timeline, so don’t count too much on any estimate.
At the end of the day, the scope and extent of the changes you wish to make will determine how much time your project will take, and which option is speedier.
Goals
Sometimes, simply reflecting on what you hope to achieve will give you the answer.
If you’re looking for a clean slate, a rebuild gives you total control to start from scratch and build your dream home. This also gives you the chance to tackle problems with the foundation and layout of the house. Additionally, a new home will require significantly less upkeep than an older one, adding value if you’re looking to sell in the near future.
Renovations are a great option for giving an old house a facelift, as you have the opportunity to install new fixtures, upgrade appliances and get your plumbing up to date. If you simply want to improve the appearance and basic functionality of your house, renovation is the way to go, and it’ll still increase your home’s value.
Check In With Yourself
At the end of the day, there’s no use spending time or money on something that isn’t actually what you want. Make sure you check in with your personal preferences - do you love the character of a home, adding to the history of those who lived there before you, while breathing new life into it? Or are you keen for a clean-slate, starting something up from scratch that’s truly, uniquely, yours?
Atmos is the perfect partner for those curious about what the homebuilding process will entail - get connected with a team member today tohttps://buttercms.com/post/115188#seo find out how you can get started.
