SHOULD YOU RENOVATE OR REBUILD?

Redesign or demolish and rebuild? Many homeowners experience this difficult decision because they like the location of their property but not the house on it. 

It’s possible that your present home is outdated or too small to accommodate your growing family. As a result, you’re more likely to consider upgrading or expanding your home to fit your needs. Of course, the answer is contingent on your specific circumstances, including how far off your present home is from your ideal, how you feel about your current location, and what your financial goals and future plans are in either case.

Residing in an older home offers a variety of drawbacks. While minor external and interior features can be easily altered, bigger structural changes, such as adding a room or raising the ceilings, will entail reconstruction. Choosing between renovating and reconstructing your home is a difficult decision. While some people find home renovation projects to be a thrilling adventure, others find them to be difficult to say the least. We have put together some important considerations in this article to give you a fair understanding of the major factors to decide, whether to renovate or simply tear down and start from scratch.

Many homeowners are interested in renovating for a variety of reasons, but one of the most important is that you may be able to stay in your home while the work is being done, saving money on relocation and rent. The renovation process entails repairing what’s already there, improving its condition, and, in certain cases, adding a new item or two. It usually comprises new finishes, fresh paint, and the construction of new racks and cabinets. While renovations can increase the value of your property, which is advantageous if you plan to sell it in the future, they can have drawbacks. You may have to work within the confines and restrictions of the current design, which may require you to forego some of the elements of your dream home.

Rebuilding, on the other hand, is a structural alteration to the home. One of the most enticing features of demolishing and rebuilding is the ability to create your own ideal home that fits your lifestyle without being constrained. There are much fewer surprises when you build a new home. When it comes to cost, knock-down rebuilds are less risky than upgrades. Older properties have more secrets and may take longer to renovate than modern homes, so you may move into your dream home sooner rather than later.

The most obvious downside of rebuilding is that you lose the charm that only older buildings provide, while modern homes can be superior in many aspects, they rarely match the character of older forms. Furthermore, you will need to locate alternate accommodation while the project is being rebuilt, which will add to the entire cost until the job is completed. Both renovating and rebuilding will take a long time and cost a lot of money, but rebuilding is more expensive because it involves building a new house on a plot of land.

How much does it cost to build a new home versus renovating an existing one?

When deciding between renovation and new construction, the financial aspect is likely to be your most pressing issue. When compared to rebuilding, renovation is more cost-effective. You can begin by refurbishing the kitchen or the living room, and then go on to the next area as your budget permits. Renovations can be done over time, but because the materials are vulnerable to weather conditions, they cannot be done whenever it is convenient for you. On the other hand, if you decide to rebuild your home, you’ll have to think about a number of factors. If the property you’re about to rebuild is your only home, you’ll need to find alternate accommodations, which will mean paying rent for that location while the work is being done. The cost of renting a new house and paying your own utilities will be factored into the overall reconstruction cost.

The last thing to think about when renovating or remodelling is your living space:

If you absolutely adore your current home or are confident that the majority of the work it requires is aesthetic, a significant remodel can be a very satisfying and rewarding experience and a great way to cut down on the costs of rebuilding.

Other things to consider:

One of the most significant advantages of renovating rather than pulling down and starting over is that you can accomplish it in stages while still having a roof over your head for the majority of the time. A rebuild is an all-or-nothing situation in terms of expense. There is no other option if you have opted to build a new house after the demolition. A remodel, on the other hand, is the way to go if you want to change the look of your home in stages or are afraid to take the major one-time financial leap of starting over. However, if you need to make big structural adjustments, such as increasing the ceiling height or changing the floor layout, rebuilding will be the best option. If you expect to stay in the same house for at least five years and have the financial means, rebuilding will allow you to live in the new and desired construction while also giving you a negotiating advantage when it comes time to sell.

The A Team offers a variety of projects ranging from Al Noor Orchard, West Marina Cottages & Villas, Al Jalil Garden Housing Scheme and Al Bari Residencia which are a good option to consider if you feel that you would like to rebuild your lifestyle and your home.
This is everything you should consider before deciding whether to renovate or rebuild your home. Professional advice is usually beneficial because it may reveal a few other concerns that need to be addressed. If you have any questions about this, please contact us at info@theateam.pk

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