One of the most common design dilemmas is whether to renovate or knock down and rebuild? Of course, your budget and time availability will play a key role in making this decision, but there are some even bigger issues at play. Below is a list of real questions that you need to answer if you are struggling with this dilemma.
Renovation involves making changes to your existing home: it can be anything from a simple single-room remodelling to a complete interior makeover. It does not mean there is any space for significant changes as you still have a lot of say in the final product, but you must respect the rules of the existing space and accommodate your wishes within those boundaries.
The benefits of renovating are :
- You get to keep the walls which are filled with memories.
- To a certain degree, you can make your house ‘younger’ or at least make the clock tick at a slower pace
- A small-scale renovation will be less aggressive to your budget while also allowing you to stay on the property while works are being done.
- With simple upgrades, can make your existing home more energy-efficient, lending a helping hand to the environment while benefiting your bank account with significant savings.
- If your house has a historical attribute, you can retain the charm of yesteryear while upgrading it to support your modern lifestyle. In a way, renovation allows you to have the best of both worlds.
On the other hand, renovation comes with limitations as you do not start with a clean slate. Moreover, the existing framework can be difficult and expensive to alter. Sometimes, it can end up being even costlier that building from scratch as you need to adhere to the existing norms.
The benefit of new construction is pretty straightforward. The house is designed and built from the ground up so everything is up to your taste and needs.
Make your house equipped for the 21st Century
Building an energy-efficient house will increase the value of your home as this is a highly prized attribute by all groups: owners, lenders and end-users. Moreover, you can benefit from incentives and tax cuts by installing solar panels. Making sure your house is well-insulated such as by having double-paned windows will add great value to your house and bring you significant savings from your utility bill.
Energy efficiency head-to-toe
Moreover, the rate itself plays a key role in your overall bill as there are many energy providers out there. Moreover, providers such as Centerpoint Energy have many different deals to suit different needs. Your usage will be greatly influenced by the structure of your household. Energy efficiency begins with the first brick you build.
On the other hand, the timeline of building is likely to be longer than for a renovation. Moreover, you should never trust the move-in date as delays are almost imminent. When considering your budget which is also likely to be significantly greater than for renovation, make sure to account for consequences of such hurdles such as paying an extra month of rent at your temporary accommodation.
What you absolutely must be prepared for is decision fatigue. There will be countless decisions to make and by having endless opportunities, you’re also in for a headache. Choosing one thing among what seems an infinite number of choices can be overwhelming at times. You have all the freedom in the world for your creativity to spread its wings, but this comes at a cost.
- How to decide whether to renovate or build
Your final decision will be greatly influenced by your needs, situation, and disposable budget. If you love your existing home and simply need a small tweak, renovation is likely the best choice. However, if you want your living space to be tailored to your desires, you will be inclined towards a new build.
It never hurts to also think about the future as this will affect the intended use of your home. Are you planning to expand your family and age in this house? This means you will need more room and you might not be able to get it within your existing structure.
The decision whether to renovate or build new depends on many individual factors that are different for each person and situation:
- Renovation limits the range of changes you can make whereas a new build allows you to make a layout and floor plan to your needs.
- Potential setbacks such as the weather can get in the way of constructing a new house whereas a renovation is likely to be weather-proof. You are never fully protected from delays, but a renovation will generally pose less of a hassle.
- The extent of renovation will determine the cost as building might not always be the more expensive choice. However, a renovation might uncover unexpected findings that will result in additional costs. If you build from scratch, you are at least protected from unpleasant surprises such as rotten wood or even worse- plumbing system that needs to be entirely replaced.
Regardless of whether you are building or remodeling, it’s important to have experts by your side. Forming a team of architects, builders, and interior designer can help you solve your dilemma. Each member brings a different set of skills, experience, and perspective to the table. Together, they can help you make the desired change in the most cost-optimal and convenient way.