Which is better: renovating your current home or building something new? The answer depends on some important factors. Deciding to remodel or rebuild requires knowing what both the house and the client want.
The cost difference in various situations can be quite substantial as well. Many factors go into the decision, and it’s often not a clear-cut solution either way. Let’s take a closer look at what option is better for you.
Safety and Structure
First, is your current home completely safe and free of structural issues? If your home’s foundation is cracked or shifted, you could be looking at repair costs from $1,500 to $30,000. Water problems, like a leaky basement or damage from a faulty roof, can also be costly to fix.
Before you decide whether to renovate or rebuild, evaluate all of the major structural areas of the home: foundation, roof, grading/drainage, electrical wiring, heating/cooling, ventilation, joists, rafters, windows, plumbing, and exterior siding materials.
If you’re not sure whether one of these is a deal-breaker, consult with a structural engineer or design-build company like BG Southern for estimates and advice.
Your love for your current home is also a factor. Do you adore it? Does it have a certain character that’s impossible to recreate? If so, you might be better off renovating rather than tearing it down and building something new. Historic qualities and sentimental value can be destroyed by a rebuild.
However, don’t assume that your home’s decorative treasures would have to be abandoned. Modern design and construction companies are experts at removing, preserving, and re-setting original parts of older homes. You can view our recent projects here.
For example, a set of beautiful old stained glass windows might be the centerpiece of your current living room – but what if the rest of the house is driving you crazy? The windows could be carefully removed and used in your newly-built home. This is also true for valuable materials like hardwood floors, which can be saved and reclaimed in a new space.
Is it Your Forever Home?
Another factor is how long you plan to live in the home or on the property. If you’re planning to stay fewer than five years, a house facelift might be all that’s necessary. But if you live on acreage that’s been in your family for generations, perhaps it would be better to tear down a problematic home and rebuild on your beloved property.
Crunching the Numbers
Your budget is another important consideration. But this is where your instincts might fail you. Is building more expensive than remodeling? Well, it depends.
Building a new home is an expensive proposition but renovating an older home can be just as costly. Anyone who has watched home remodeling shows on HGTV can tell you about nightmare scenarios of opening up walls and finding mold, rot, water damage, pest damage, electrical issues, and more. In fact, some remodeling experts advise remodeling only if the estimated cost is dramatically lower than the cost of new construction.
Building something from scratch, with known costs, can actually be a much more budget-friendly approach than risking a remodel and waiting to see what’s behind the walls.
Are you allowed to tear your house down? Many cities have restrictions about total home teardowns. It might be better to take your home down to the studs without actually tearing it down to the ground, depending on local regulations. This would affect the footprint of the home you’re trying to plan. Before assuming that it would be better to just renovate your current home, visit your city zoning and planning department.
Trust BG Southern with your Renovation or Rebuild
No matter which option you choose, it’s essential to partner with a trusted company to guide you through the process. Contact BG Southern today to renovate or rebuild.