Advantages and disadvantages of new construction renovations

Should we renovate our house or tear it down and rebuild it?

We are often asked “how do we decide if a renovation or a rebuild is the best decision for us?”

Well, first of all, let’s examine the difference.

With a rebuild, your chosen contractor will demolish the entire living room and rebuild it from the ground up. A renovation, sometimes called a remodel, focuses more on a specific area of ​​your home, such as your kitchen or basement.

Second, for the purposes of this article, we assume that you love your location and absolutely insist on staying where you are.

So with that in mind, how do you decide which way to go?

The two main factors will be the age of your home and your budget. Typically, if your home is approaching 70 years old, that is, built before 1950, and your budget can absorb it, our recommendation would be to rebuild. This gives you a new perspective on the future. For example, you would know that your rebuilt home must meet all current building codes (you don’t have to worry about asbestos, old wiring, or any other safety issues that are common in older homes).

This approach also has additional advantages. Since you are starting over, less time is required for integration between old and new areas; This can be a tedious and difficult process. Also note that the options are greatly expanded with a rebuild; a typical example is a 10 ‘ceiling height throughout your home. This is a simple feature to accommodate, structurally, during a rebuild, but it is often a difficult change to make in a renovation, where the existing floor plan of the house will impose limitations.

Lastly, if your mindset is long-term, it is usually a better financial decision to rebuild, despite the extra money initially required. The reason for this is that the whole house receives a general “reset” and is therefore more likely to maintain or increase in value in the future.

As with any decision like this, there are some downsides to consider. With a rebuild, you will have to move temporarily (try to find a contractor who can offer you accommodation), while with a renovation, you can usually stay at home during the process. You may also have some neighborhood or community factors to consider.

We hope this has helped you make the decision that suits you best.

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