Renovate VS Knock Down Rebuild – Which is Right for You?
If you love where you live but are looking to update your style with lavish materials, or upgrade your floor plan to maximise the use of your site, you may be able to renovate or knock down rebuild instead of purchasing a new block. If this is the case, how do you decide whether to renovate your existing home or knock it down and rebuild a new home on your existing block? Below we have outlined some helpful considerations to help you determine which is best for you.
CONSIDER YOUR SATISFACTION WITH YOUR EXISTING HOME
Before deciding whether to knock down your house and rebuild or renovate, you should determine what challenges your existing home has brought, and what you are looking to achieve by refreshing your space. There are some key reasons to opt for each solution, so you need to prioritise what is important to you and your family.
It may be advantageous to renovate your home if:
- Your floor plan suits your living requirements but you want to make cosmetic changes to update your style
- You want to add a small extension to a specific region of your premises and the relevant space on the block allows it
- You already love the way the home sits on the block
It may be advantageous to knock down and rebuild if:
- You are intending to significantly expand your home
- You are intending to make significant structural changes to the home
- You are intending to change the direction of sunlight flooding into certain rooms within your home such as your living space
- Your existing services and structures are significantly deteriorating or aged
CHECK WITH YOUR COUNCIL FOR BUILDING RESTRICTIONS
Before making your decision, you should research your building options with your local council. Some state and local council planning laws can prevent the destruction of certain homes due to heritage and historical importance. In some circumstances you may also be prohibited from altering the street facing facade, or you may have height restrictions that must be complied with.
If you have a copy of your existing house plans, request more information from your local council on the limitations of renovating or knocking down your home and rebuilding on your block before you make your decision. If your home builder or renovator specialises in a specific Melbourne region, they should be able to provide specific guidance on common restrictions as well. Although we can build custom homes anywhere in Melbourne, Rycon specialises in custom home building along Melbourne’s eastern straight, from Mitcham to Glen Iris and across to the inner eastern suburbs of Melbourne. We specialise in Booroondara and Whitehorse council zones, so if your residence falls within the parameters of this zone, we can provide expert advice on planning and permits to avoid any potential setbacks.
LIFESTYLE & CONVENIENCE
Engaging custom home builders to update your space provides an abundance of opportunities for enhancing your lifestyle and improving the functionality of your home. However, the construction phase of a renovation or knock down, rebuild can provide some short-term inconveniences that you should consider.
The size of your renovation or knock down and rebuild will determine how long the process might take and the extent your lifestyle will be impacted. With a small extension, generally it is possible for you to remain in the home while the project is completed, but if you choose to knock down your home and rebuild you will have to arrange alternate accommodation and storage for your furniture and belongings.
It is also important to consider the time of year your construction begins. Seasonally, renovations are more difficult to complete in winter, with the weather often impacting the duration of the project, and leaving you more susceptible to the harsh Melbourne weather conditions and mud.
BUDGET- WHICH COSTS MORE?
It may come as a welcomed surprise, but should you want more than a simple cosmetic update for your home, renovating will generally cost more. Whether you are renovating or rebuilding, it is important to first understand your realistic budget to ensure you have can adequately plan for the best outcome for your dream home.
Financially, if you have the capital it can also be advantageous to knock down and rebuild. The resale value will generally be greater than if you choose to renovate due to the enhanced structural integrity of the new home.
Unfortunately, renovations can be rife with unforeseen glitches due to the nature of upgrading instead of starting anew. Occasionally your builder or renovator may find bigger-than-expected problems during the renovation instead of beforehand, leaving you with higher expenses than anticipated. Employing a custom home builder for a knock down, rebuild minimises this risk as your new home is completely planned and agreed upon before demolition and construction begins.
One key advantage financially with renovating, is that you can do the renovations at your desired speed, broken down into stages. This is opportune for families who what to spend smaller amounts of money over a larger period of time. You also save money when renovating as there would be no requirement to find alternative accommodation like you would with a rebuild.
Learn more about how to prepare for a knock down rebuild via our Knock Down Rebuild Checklist.
Renovating your existing space or arranging a knock down & rebuild with a custom home builder are both remarkable ways to improve the style and functionality of your living space, without compromising on your favourite location. Professional custom builders such as Rycon can provide expert advice and guidance to take the stress out of your building journey. If you are looking to knock down and rebuild your dream home in Melbourne or surrounding suburbs, please get in touch with us today.
