How to know if you should knockdown and rebuild your home

Looking to bring an older home into the future but aren’t sure whether to remodel or knock the whole place down and start again?

It might seem a shame to knock down an older building, particularly if it holds memories or is still in decent condition, however sometimes it makes more sense to rebuild a property rather than remodel.

The neighbourhood has changed

Building a brand new property is generally going to be more costly than renovating, however in a upmarket neighbourhood a brand new property may be more valuable than an older one. 

If knock down rebuilds have become popular in the area then these may have more buyer appeal than a property that has just had a few renovations.

Conversely, if you build a brand new home in an area renowned for heritage or character properties you could be doing more harm than good, so always consider the area and what buyers are looking for before making a huge investment.

You want to subdivide

If housing density is increasing in an area then it might be time for an old cottage to go so more homes can fit on the block. This could mean rebuilding two new homes, or potentially even a townhouse or unit development.

If you have land with the potential to subdivide it’s always worth looking into your options, as you may be able to sell part of your block and use any profits to fund a new build.

The existing property doesn’t have good bones

Renovating an old home to suit modern day living can be tricky, and sometimes you’ll need to make compromises on your plans to fit in with existing structures and/or materials. 

A renovation can have drawbacks and may not be able to get the exact property you envision. 

You just want to start fresh

Sometimes you just want something new. Building a new property can be costly and stressful, but if you have the funds then it provides you with a way to create the property you’ve always dreamed of.

If you’re unsure if knocking down and rebuilding is the right move for you it may help to have a chat with a draftsperson or architect to help you realise your vision. 

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