Many Australian homeowners are eventually given a very tough choice when their current home no longer fits their needs. You may love your location, your local schools, and your street. But your current home may be too small or out of date. The big question then becomes, “Do I renovate my existing home or knock it down and build a new one?” The key to making the right choice for your situation lies in taking a hard look at your home and your needs.
Assessing the Current State
Before making any major decisions regarding your Australian property, you first need to have a solid idea of the state your home is in. Many Australian homes are old and may have many expensive hidden costs. For instance, there may be termite infestation, electrical problems, foundation problems, and even asbestos. These unexpected expenses may quickly eat up your renovation budget.
Once you start tearing your home apart, these hidden costs may surface. A knock-down rebuild gives you a way to avoid these unexpected expenses. You are given a clean slate, a solid foundation, and peace of mind, without having to deal with the structural problems associated with an older home.
Budgeting and ROI
Another important factor to take into consideration when making decisions concerning your Australian real estate is your budget. Renovating your home can be quite expensive. This is especially true when your contractor has to make constant adjustments to accommodate existing problems in the structure of your home.
With a knock-down rebuild, however, you have a much greater level of security in your budget. Not only are you provided with a fixed price contract by your contractor for your home designs, but you are also given the opportunity to increase your return on investment substantially. A brand-new home in a neighbourhood that has already been established is quite desirable to potential buyers.
Council Regulations
Dealing with council regulations can be quite a complex process, no matter what path you choose to take. There are council zoning regulations to follow, the possibility of your home being declared a heritage home, and the process of a development application. Renovating your home has to deal with complex regulations to ensure that your extensions fit in with your old home or your newly acquired space.
While rebuilding your home may seem to be a much more complex process for your local council to deal with, there are many project builders that can take care of the entire process for you. This can make things much easier and eliminate the hassle of working with local regulations to ensure that your home design meets all the necessary requirements.
Sustainability and Efficiency
Renovating an old design to suit today’s sustainable living standards is almost impossible and very expensive. You are literally fighting a losing battle with a house that was originally designed with poor sun orientation, no insulation, and old leaky windows. Moving into a brand-new home allows you to design a sustainable living space from scratch.
Today, in Australia, you must have a 7-star energy rating on all new homes, so you get a cool house in summer and a warm house in winter, and it does not cost you a thing!
Creating Your Ultimate Family Sanctuary
The decision to tear down and rebuild is one incredibly positive step towards designing the lifestyle of your dreams. Rather than living with an unworkable floor plan and fighting through months of tear-down and renovation, you are able to create your dream home, perfectly suited to your family’s needs. You are able to stay in the amazing community that you love, with the luxury and security of living in a brand-new home!