Sydney is home to many old, but highly sought-after suburbs, with streets lined with old fibro houses complete with ancient plumbing, and out of date electrical work that is way behind current Australian standards. If you’re thinking about renovating an older home or packing up and moving, you might be surprised to learn that the costs may be comparable to knocking the old house down to make way for a new construction. Here are a few things to think about when considering whether to knock down your old home, renovate, or move.
All new amenities and warranties
When you factor in the expense of revamping the electrical and plumbing work, the cost of a renovation on an old house can be the same as a new build. A new home will give you all new amenities, modern safety features, and brand-new pipes for your plumbing. Plus, you receive all the appliance and structural warranties the same as if you had built on a vacant block.
A new construction could save you money
For families considering moving to a new suburb, rebuilding on your existing block will save on stamp duty, commission for real estate agents, and hiring removalists. When you add up all these costs, it could mean a new home on your old block works out much cheaper.
You get to stay in your old neighbourhood
Change can be fantastic, but if your reasons for moving are because you need more space or are in the mood for an upgrade, you can have the same benefits with a knockdown and rebuild, and for a similar cost.
Rebuilds can be faster than a remodel
If your goal is to bring your old home into the 21st century, then a knockdown and rebuild may be a faster option. Remodelling an older home can be technically challenging when you’re upgrading the plumbing and electrical work, which adds to the cost.
Whether you knockdown or rebuild will depend a lot on your circumstances, and your plans for the next few years. When so much time and money is on the line, professional advice will help you make the best decision for you and your family. Get in touch with 2N2 Constructions today for unbiased guidance from experienced builders.
Not sure where to start?
At 2N2 Constructions, we pride ourselves on giving you honest guidance on how to build your dream home and get everything you want within a budget you can afford. Why not contact us for a FREE no-obligation consultation today.