You are planning on buying an old house and are still undecided on whether you want to renovate it or completely knock it down and rebuild a new one. Here are some tips to keep in mind before you make your final decision.
First of all, consider the price for both options. To do so, check the existing structure. To help you out, you can also read 5 tips to consider before buying an old house. If the structure is too weak and depending on the type of building work (e.g. renovation or extension) you want to do, sometimes it’s worth to start from scratch. It has been proved that, in some cases, rebuilding is less risky, faster and costs less per square meter than renovation.
- Heritage protection
Depending on how old the house is, it might be protected due to its character and age. Every council has defined its own requirements and it is worth double checking with them to get clarification on what you can or can’t do. However, if the purchase is for an investment, keep in mind that many buyers today are looking for properties with character.
- Council requirements
Before you decide to knock the existing house down and rebuild a new one on the same footprint, be aware that the regulations might have changed since then. For instance, the setbacks have increased and, therefore, it gives you less space for the future construction. Check in the latest Residential Design Codes and with your local council to find out if they have special regulations for your area.
- Affordable changes
The good thing when renovating, rather than building, is that you can break the process down by working in stages. First, it allows you to control your budget and, secondly, not be under pressure by not having a roof over your head.
- Match your lifestyle
Depending on your needs, sometimes the floor plan just doesn’t work and you end up doing significant renovations that might turn into a nightmare! Before delving into these renovations, consider rebuilding from scratch as a better option to design a home that perfectly suits your needs.