Knockdown or renovate, what’s right for you? 

If you’ve been living in your home for some years, naturally there are always a few things that pop up over time that you’d like to improve on or update. As the list grows longer, the question you begin to ask yourself is whether to renovate, look for a new house that already has everything on your wish list or to knock down and completely rebuild your home. Unfortunately, finding a pre-built home that exactly fits your needs is near impossible and so if you are adamant on getting exactly what you want, then your options are reduced to knockdown or renovate. Picking one of these options is a difficult decision to make, so we’ve pulled together some things to think about to help the decision-making process.

1. Decide on a knockdown or renovate budget

This is an important point, and can often make the decision for you. Firstly, figure out your general budget, and then start mapping all the changes you’d like to make and weigh up whether a renovation will do the trick or if a complete knockdown is more feasible. At this point, consider the longevity of these plans, if you are making a change but will outgrow it again in a few years, it can be a good idea to consider taking the bigger leap now. 

2. Look into heritage regulations

If you’ve decided that you want to knock down and rebuild, your next step is to make sure this is a viable option. You’ll need to look into whether your home has any historical value attached to it, if this is the case, you may not be allowed to completely demolish the house. 

3. Does your home have renovation flexibility?

Deciding to renovate is easy, but putting it into action can be hard. Before you go ahead with renovations you need to make sure that your home is able to be reworked in the way that you want. This means ensuring that any changes you’ll make are not going to comprise the structural stability of the house. If you can’t move a wall that you were hoping too, you’ll need to change your floor plans or consider completely rebuilding. 

4. What’s the real estate value of your area?

Renovating or rebuilding your home can come at a big expense. If you are making any changes purely to add value to your home, you’ll want to do some extensive research first. Take into consideration the property market and the value of similar homes in the area. You’ll want to ensure any changes you make are going to make add value to your home, rather than taking away from it. 

Have you decided to start completely from scratch? Read our blog on Where to Start When Building a New Home.