If you are in the market fora new home, purchasing a place that needs some TLC or considering knocking down and rebuilding or renovating your current place, your main consideration will likely be the costs involved and whether its cheaper to build or renovate.
Renovating or remodelling will generally be cheaper as you can scale the level of your renovation and therefor your costs. You can also renovate rooms in stages, as your budget allows. Renovating also means you can continue to live in the house as you renovate, saving you money in double rent or mortgage costs whilst you waiting for your new home to be built.
Zoning laws determine the size, type and location of buildings. Often if you knock down and rebuild you’ll be confined to the original size and footprint of the home. Basically you can’t necessarily knock down a small home and build a large one!
Renovating can always be cheaper than building, but the scale of your renovation plans will determine whether it will actually be cheaper.
If you plan on completely remodelling every room in your home, moving plumbing, adding walls, changing floors and everything in-between then it may not be much cheaper (if at all) than building from new!
However, if you looking at a new kitchen, bathroom, some paint and new decorative features then you will likely be able to get some serious bang for buck and save yourself a ton of money renovating rather than rebuilding!
An experienced renovation company will be able to discuss what you want for your home and your budget. By using one company from start to finish you can know your costs upfront. Many companies, such as AMS Property Renovations offer a consolation and free quote so you know what budget you are working with.
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