The current housing market is making it increasingly difficult to find that perfect, vacant block of land to build your dream property. There are fewer and fewer options available at the right price point and this is even more the case if you are looking for a bespoke build, rather than a run-of-the-mill home from a book.
While this might appear to leave those looking to get started on their dream home with fewer options, in reality it opens up a whole new realm if opportunities to create a unique home that stands out from the rest. Here we will look at the benefits of knocking down and rebuilding, or renovating an existing property to better suit your needs.
Knockdown Rebuild
Let's start with the knockdown rebuild option. This has become popular in recent times, partly thanks to the flexibility it allows owners to build exactly the property they want on the existing block. It also means there is greater scope for finding that exact block that ticks all the boxes, especially if you aren’t concerned about the condition of the house.
Despite sounding like the more expensive option, this may not always be the case as renovating an existing property can come with all kinds of hidden costs that aren’t made apparent until work has actually commenced on the property. With a knockdown rebuild, you have complete cost control.
Another great benefit of knocking down and building is the fact you have the ability to design your dream home from scratch, just the way you’d like it. There are no constraints in terms of square meterage (except for the block size), existing layout or overall aesthetic to the property. You can build something that fits the block perfectly.
Renovation
If a knockdown rebuild seems to be so good, why would you even consider renovating? Well, let's have a look. There are a few really great reasons for going down the renovation path, and you might be surprised to find out why.
There is an increasing market demand for character in builds, in particular heritage. The importance of style, history and the story of a property (even an entire street or suburb) is something that money literally cannot buy. How many times have you driven down a vintage suburban street and seen that one house that just doesn’t fit, and doesn’t match the existing homes? This can be one of the pitfalls of the knockdown rebuild. On paper it’s a beautiful home, but it just doesn’t work in the context of its location. Taking advantage of an existing buildings unique features and style can provide you with an opportunity to enhance the value not only of your property, but add to the value and intrigue of the entire street. Have a look at our most recent project in Bulli to see first hand what a good renovation looks like.
Renovating also makes it possible to stage the project, which can be convenient if you don’t want to spend extra money renting elsewhere during construction. Staging the project can be handy if you want to focus on particular sections of the renovation at a time.
At the end of the day, the choice is yours to make. If you are interested in finding out what’s best for your property, the Concept Constructions team is available to discuss the pro’s and cons of each approach in consultation with you are your architect.
Contact us today and get your dream project started!