So many clients approach us with what we like to call the million-dollar question – should we renovate our existing home or start afresh with a brand new space? There are so many considerations to take into account when making this all-important decision and the outcome will be different for each and every client, depending on their unique situation.
Creating Your Dream Home vs. Sentimental Attachment
Building a home from scratch is a really exciting journey to undertake – you can construct your dream home exactly as you like, with all the detailing and finishes you always dreamed of. Always fancied an ensuite? Ask your architect to include it in the plans. Want to design a spacious open-plan kitchen / dining room? Now is your chance.
Building your own home also means you can choose a new area to explore. Maybe you’re into eating out so you want to move somewhere more lively or perhaps the kids are growing up so you need to be closer to the best high schools in the area. Whatever the reason, a new start can be great for you and your family.
In saying that, if you do have children, moving away can be an emotional undertaking. Uprooting your family, leaving friends and neighbours behind and moving the kids to a new school can be a tough thing to do and is why many families opt for renovations instead.
A renovation also allows you to retain the history and charm of your original home, while simply updating the things that need a refresh. This means you are likely to end up with a beautiful modern home, while keeping the stories and memories that have been created within the walls – a renovation is a great way to ensure your house remains a home.
In many cases, particularly if your renovation involves structural changes, it’s can be a far more cost-effective option to build new. For a renovation, in addition to labour and planning costs, you will need to pay for materials, permits and council fees and inspection costs, among other things.
That’s not to say that building your dream home is cheap. Creating a new home means paying for things like stamp duty, agent and legal fees, building reports and moving costs. Many of these can be a hassle for families, particularly when it comes to physically moving all of your belongings into a new space.
Many times, if you choose to renovate your home, you will have to move out for some or part of construction. Think about the logistics of a renovation and any extra costs you may be looking at as a result of the building works – will you have to stay with friends or pay for alternate accommodation at any time during the process? Building new while you’re living in your existing home and moving in once all works are completed can be a far more convenient way to achieve your dream home with minimal intrusion on your everyday life.
Ultimately the decision to build or renovate is a personal one and it will depend on your personal circumstances and budget, among other things. If you want to find out more about whether to build from scratch or renovate your existing home, get in touch with McGowan Homes today.
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