• Should I renovate or build a new house?

    Home Building Advice

    Should I renovate or build a new house?  We are asked this frequently; however, there are as many answers to that question as there are homeowners and property options. Only you can decide which is better for you, your family and your circumstances but we can assist by giving you some things to consider when making your decision.

    Neither option is necessarily easier or cheaper than the other. Only you know how you want to spend your money and what type of inconvenience to can tolerate. With this in mind, here are some pros and cons to consider when making your decision.

     

    Renovation pros

    You really like your current block, suburb, neighbours, local schools, established amenities etc and don’t want to relocate

    Your current home is in good condition and is not likely to have too many structural, wiring or plumbing issues that can cause budget blowout

    You think you can achieve a great look by upgrading kitchen and bathrooms, transforming outdoor spaces, and/or doing some maintenance or changes to the exterior

    Council regulations will allow you to realise your dream

    You think you may be able to remain in your home during your renovation which could save relocation, storage and rent expenses

    renovating gives a pleasing result

    Renovation cons

    The renovation may not run as smoothly as you expect

    The renovation may go over budget due to issues found during construction

    You may need to move out and rent during renovations depending on the job requirements

    You need to be careful not to overcapitalise

     

    Building New pros

    You want something completely new

    You don’t think you can achieve everything you want by renovating

    You want to avoid the inconvenience and mess of an extension/renovation

    building new gives a cold, empty feeling

    Building New cons

    Money will be ‘lost’ in legal fees, agent fees, stamp duty etc

    Sale and purchase timeframes may not match up which can cause stress

    You may need to rent in the interim between selling and occupying your new home

    Contact us today if you would like more information about how we can help with your renovation or phone us on 0409129840 to make an appointment.

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