Renovating vs Building New

We know how tough this decision is to make, so we’ve answered some frequently asked questions which we hope will help you to decide whether a renovation or building new is best.
Renovating vs Building New is an age old question and will always be a hard decision to make. It boils down to a lot of factors that are mostly personal and will differ from person to person. Each option has its advantages and disadvantages, meaning the best option is the one that serves the bigger picture. We hope the information below will provide some insights to help clear things up for you.

Renovating an existing home

Renovating can be pretty awesome. You keep all your cherished memories and moments with that home, while giving it a modern and often much needed freshen-up. This is especially important to people who have houses with sentimental value to them. They love their home, but only need a few aspects of it tweaked and can’t justify moving. Renovating can be a fraction of the cost of building new (depending on the project), and if done properly by improving inward/outward flow and adding bedrooms and bathrooms to increase the quality of living, it can really increase the value of your home should you decide to sell up or rent out.

Building a new home

Building new is always going to be a very enticing option. After all, who doesn’t want a freshly built home? Building new has many options, from pre-built homes in a new suburb, to a complete custom build in your dream location. The possibilities are endless and it can be very exciting to be working with a designer and builders building your dream home. In most cases, it will be more expensive than renovating simply because it is a larger job in that you’re building a completely new home instead of building or improving upon a section of your existing home.

Questions to ask yourself

How old is the home and what is its intended purpose? Is it a good base to build upon?

New systems and Building Codes means that often at times when renovating an old home, sections of the building will have to be brought up to today’s standards because of these regulations. This can potentially increase the cost of the project, as well as require more work than expected. Therefore, it is vital that you seek professional guidance and get experts to look at your home to assess whether or not the project is worth the time and money before going any further. There are also council rules in your area which will dictate what type of work you’re allowed and not allowed to do – again something we can help you with. With a new home you don’t have to worry about this because it’ll be built to the latest standards, that often means it is a warmer, dryer, more efficient home and free of asbestos containing materials (ACM). We can give you more details and a comprehensive insight on what to expect when we conduct our site visit on your property.

What budget do you have to work with?

If you’re on a budget, a small renovation or extension can give you and your family enough space to live with instead of moving altogether. Alternatively, if your budget is extremely large then you may have more freedom to design your new home from the ground up. The only limitation is how much you’re willing to invest. By asking yourself how much you’re willing to spend, it makes it a lot easier for builders like us to get an idea of what you want your home to be, and if its realistic/achievable with your budget in mind. We’ll be completely honest with you and tell you what you’re going to get with your investment sum, as a lot of people aren’t aware of the extra costs associated with renovation such as council fees and design fees.

Is there sentimental value with the home?

How much you value the home should be a large factor in whether you choose to renovate it or not. It may be that the house is in the perfect location for you and your family, or it may have been passed down from older generations and you want to keep it as a family keepsake, or you simply love your home to bits and can’t bare the thought of selling it and moving out. In cases like these, renovating or extending your home would be the most logical step for your project. We specialise in home alterations and with over 15 years in the building industry, we have more than enough experience to manage your alterations, if that’s the route you want to go down.

If you don’t care much about the home, it’s too run down and will cost too much to renovate, or you’d just prefer to live in a brand new home then you might be better off building new, or possibly destroying the old home and building on the same site. This is because there is much more certainty around new builds and with old homes you don’t know what’s going to be behind the walls or under the floors, or what’s not on the plans. Of course it is recommended that you get in touch with industry professionals like ourselves where we can inspect your home and tell you whether it is worth renovating or not, based on your expectations and budget.

As you can see, there is a whole host of factors that you must consider when making this decision. Therefore it is critical that you have the right guidance to walk you through the processes so that you don’t waste your time or money. We help you answer all of these questions and more when you contact us, and we can even come out to your property for a 2 hour consultation where we will address any concerns that you may have for your home renovation, extension or new build. We hope to hear from you soon!