So you've bought your slice of the great Australian dream, that's great! What next?
We hear from so many potential clients about the tough decisions they have to make when it comes to what to do with your land. Do you renovate what's there to create your new home, or do you knock down and rebuild to create your ideal lifestyle from the ground up? We've broken down the formidable list of pros and cons to make it easier for you to decide.
Read on as we outline the key things to look at, from assessing the current home and its structural integrity, comparing the costs associated with renovating or rebuilding, the timeframe you are most likely to experience with either option and the long-term value and sustainability impact of your choice.
As always, if you have any questions about the building process or what to do to get the most from your site, reach out to the Swanbuild team and let us help you.
Evaluate The Current Home
One of the most important steps in deciding whether to renovate or rebuild is to assess your current home carefully. First, consider what you want from your home and evaluate how much of what you currently have meets those needs. It may turn out that only a few additions are necessary rather than a complete redesign. Additionally, it's essential to conduct a thorough inspection with a registered building inspector. This will help you understand which elements of your home can be retained and which parts need to be replaced. You might discover that there are structural issues that would be more easily resolved by choosing to knock down and rebuild instead.
Compare The Costs
You might think that renovating is the cheapest option as you are not building a complete house. Still, there can actually be a multitude of added costs and unexpected expenses when choosing to renovate. While it seems like less work to add to a home rather than build from scratch, every single renovation is a unique project, meaning that you are paying for drafts and drawings and custom solutions to suit the existing home. With a knockdown rebuild from Swanbuild, you can choose from one of our stunning designs that only need minimal tailoring to be adapted to your site. Building with Swanbuild also means setting costs from the day you sign your contract. That means there will be no surprises or unplanned spending once construction has begun.
Consider The Timeframe
An expedited timeframe is one of the most popular and valuable benefits of knocking down and rebuilding with Swanbuild. From the day you sign your contract, you can expect to be in your brand-new home in a 6-9 month timeframe. Our factory-based construction method and large teams of tradespeople ensure no downtime on the building site or common delays that can hamper renovations, like inclement weather holding up work or unexpected issues like finding asbestos or undiscovered structural problems.
You should also take into account your living arrangements when renovating or rebuilding. Choosing to stay in the home while renovating can save you the time and hassle of finding rental accommodation, but it's not for everyone. Worksites start early in the morning, and you might be faced with less privacy and a very busy driveway while work is taking place. Alternatively, while you obviously cannot live on-site during a knockdown rebuild, our efficient construction time frames mean you will have a secure move-in date, something that other builders cannot often offer with a renovation.
Sustainability
While it might seem like renovating is the more sustainable and economical choice as you are reusing at least a portion of your already existing home, you should consider both the construction process and the long-term energy input your new house will need. A knockdown rebuild enables you to build to exacting standards. All Swanbuild homes are built to a 7-star energy rating, meaning that your home will require less energy to heat and cool throughout its lifecycle.
With Swanbuild, you also have the option of choosing the Sustainable Living Package to further increase your energy rating above 7 stars. This includes upgrades such as additional installation and PVC windows with double glazing and Low E glass throughout. These elements work together to drastically reduce your home's energy consumption, ensuring it is not only more energy-efficient but also environmentally responsible.
Value
For most people, buying a home will be the most significant investment of their lifetime. So, it's essential that your home maintains and grows its value for years to come. When deciding on renovation vs rebuild, consider the long-term value of your home and, in years to come, how both a renovation or a new home will perform in your area's real estate market. Ideally, you should look at other homes in the area or even talk to a local real estate agent to see if one property type performs better.
When deciding between renovating your current home or knocking it down to rebuild, there are many factors to consider. Take the time to thoroughly inspect your existing home and clarify what you desire in your next living space. It's important to consult with builders to get estimated costs for both options. Additionally, think about the practical aspects of living in the house during renovations.
If sustainability is a priority for you, evaluate which option will be more cost-effective in terms of energy efficiency and the long-term costs of heating and cooling. Lastly, research the real estate market to determine which choice is likely to yield a higher resale value in the future.
If you want to learn more about the costs you can expect when building a home with Swanbuild, why not reach out to the team and book an obligation-free consultation today? The team can walk you through what to expect when building a modular home as well as how each stage of the process is broken down on a fast 6-9 month timeframe.