Are you facing the daunting decision of whether to renovate your existing home or knockdown rebuild?
This is a common challenge many homeowners face, and the fear of making the wrong choice can be overwhelming.
Many homeowners struggle with this decision because of their uncertainty about which option will provide their desired result. Understandably, they don’t want to waste their hard-earned money on a project that will not deliver the outcome that they are aiming for. This lack of understanding can make homeowners hesitant to take action, leaving them feeling unsatisfied with their living situation
So how can you ensure you are making an informed decision?
Consult A Professional Builder
Fortunately, you don’t have to navigate this unfamiliar territory alone. By reaching out to a professional builder, homeowners can benefit from gaining access to a knowledgeable perspective and receiving expert guidance based on years of valuable experience.
A professional builder will have a systematic approach that will help you evaluate your options and determine whether a renovation or a knockdown rebuild is best for your needs.
By simply making that initial call to a professional builder, you can create the push that sets the wheels in motion.
So How Does A Professional Builder Know Which One Is Right?
It may be hard to believe, but renovating and extending may not always be the cheapest option in terms of value for money. Recent studies conducted by the Australian Bureau of Statistics reveal that the average cost to build a new Australian house stands at approximately $320,000. Now this statistic is based on the larger market, dominated by volume home builders, which in turn is driving down the average price dramatically. But when you compare this to our average project cost for a renovation and addition, sitting at about $350,000, it can really make this decision even harder to make.
When a professional builder is assessing which option is right one for you, These are the specific things that they are looking for:
- Value for money: Which option will give you the best value for your money? It’s not about which option is cheaper overall, but where do you get the most value for your dollars spent. Sometimes a renovation could cost $450,000 but we could build an entirely new custom home for $550,0000. For an additional $100k, you can get a whole lot more for your money.
- Your vision: How do you see yourself living in your home? Renovating and extending will mean that the house position will stay the same and may not be the best use of space for your block. If you want to play backyard cricket or swim in your new pool, space may be an issue.
- The age and condition of your current home: Some homes have a beautiful character heritage, with stone facades, high ceilings and large rooms. Others are small, poorly built homes that are difficult to modify and require a lot more work.
So What Kind Of Builder Do You Need?
A common myth that most consumers believe is that contacting a volume builder is always the best route. However, it’s essential to find a builder who specialises in the specific type of work you require.
Volume builders are typically large companies that construct multiple homes or buildings simultaneously. They aim to maximise efficiency and profitability by streamlining their construction processes and using standardised designs. This means that their primary focus may be on making sales and earning commissions rather than providing unbiased advice. Since they have a vested interest in selling their own properties, they may be inclined to push certain options or upgrades that may not necessarily be the best fit for your specific needs or budget.
Working with a builder who genuinely has your best interests at heart is crucial for receiving impartial recommendations. Such builders prioritise understanding your requirements, budget, and preferences, and they provide advice and guidance that align with your best interests. They may suggest alternative options, consider your long-term satisfaction, and offer personalised solutions that meet your specific needs rather than promoting their own agenda.
Beginning Your Journey
If you’re at the start of your journey and can’t decide if a renovation or knockdown rebuild is right for your situation
Here are your next steps to move forward with confidence:
Step 1 Consider your current home
- Take a look at your room sizes; are they sufficient or too small for your needs?
- Evaluate the position of your home on your block; Is it utilising the available space well?
- Identify any unique character elements in your home.
- If your home was built in the 70s or 80’s and built on a budget, be aware that these homes may require additional attention for modernisation and structural reinforcement.
Step 2 Consider your brief
- Before diving into renovation plans, consider whether it might open a can of worms, leading to major work needed for the entire home. Beware that this could rapidly escalate the project costs.
- Assess your floor plan’s renovation-friendliness. Determine if achieving your desired layout will be a straightforward process or if it may present challenges.
Step 3 Is your block easy to build on?
- Consider whether your block of land is easy to build on or does it have its challenges.
- Be aware that site costs can escalate when dealing with a difficult block. This may result in a situation where the cost of the new home itself is reasonable, but the site work expenses significantly increase.
Step 4 Call an unbiased professional.
- Contact a reputable builder experienced in custom projects, such as renovations and knockdown rebuilds.
- By doing so, you can receive honest advice without the influence of someone trying to push their own agenda.
Making the decision to renovate or embark on a knockdown rebuild is a major milestone in upgrading your home and improving the quality of your life. Seeking guidance from a professional builder can give you the confidence to navigate the complexities of this decision-making process.
Finding the right builder is just one of the 6 Essential Things You Must Do For A Successful Home Renovation. Download our FREE GUIDE to find out the other five!
