The first question to ask is if rebuilding your home is an option. Across NSW, local councils have rules and regulations which may affect your ability to build the home you’re wanting to.
If your home is heritage-protected this will make renovation your only option. There are a range of other heritage factors that may affect your plans also, including needing to retain a front fence or a tree.
Councils will also have building restrictions regarding height limits, setbacks and garages, which may not have been in place when the home was originally built. This could mean you’re unable to rebuild your home to be the same size/orientation as your current house.
If your home is located within an estate there may still be guidelines in place which require you to align with the area’s character. It’s best to check with your estate guidelines or developer to find out if this is an option.
Depending on the location of your home, you may also fall within a flood or bushfire zone, with which there may be requirements new builds need to meet.
We recommend doing some research on your local council’s website and clarifying any questions with a representative in person.
What would you like to change about your home? Do you want more space for a growing family, optimise your existing floorplan or even add additional rooms.
These questions can help determine the best path for you, for example;
If you’d be happy with only changing a few spaces, then a renovation may be all you need.
Whereas, if you’re wanting to rearrange the full layout of your home, a rebuild may be easier and more affordable.
Another factor to consider is what your home is being used for, e.g. if you’re planning to use it as an investment property, you may only need to renovate the key areas such as a bathroom and kitchen to increase your return.
Following on from the previous point, you should also consider the condition of your home.
Does your home have any structural issues, such as rising damp or bad wiring?
Any structural issues your home may have will need to be addressed during the renovation process and may be costly compared to rebuilding from scratch.
If however, the structure of your home is sound and has an orientation you like, a renovation may still be a better option for you.
The shape and orientation of your block can help determine how difficult it would be to rebuild.
For example, it’s easier and more affordable to rebuild a home on a flat block rather than a sloping block when you consider the cost of site works. You may also love the location that you live in but are wanting to update your home, a knockdown rebuild may be the perfect option.
This is something a builder and architect will take into consideration when preparing a quote for you.
When considering either a renovation or a knockdown rebuild, you need to take your living situation into consideration.
While your home is typically liveable during a standard renovation or extension, it can be impossible for you and your family to still live in your home during a full home renovation or a knockdown rebuild.
This then poses the question of where to live - Depending on your situation you may need to pay for a rental property (which can be a costly expense alongside mortgage repayments) and should be budgeted into your options.
It’s typically more cost-effective to rebuild rather than renovate, yet this is dependent on your current home and needs.
If you’re just wanting to expand your living space and add an extra room, this can be achieved with just a renovation or extension. However, if you’re wanting a full home renovation, a knockdown rebuild will then prove more cost-effective.
Some financial factors to consider when renovating:
When it comes to cost blowouts, these are mostly caused by unforeseen issues with existing homes. From unstable foundations to blocked pipes, your home may have structural issues that will need to be rectified throughout the process, increasing your costs.
You also need to consider longer terms costs. Newer homes are considered to be more cost-effective as they are designed and built to be more energy efficient.
Unfortunately, there isn’t a renovation or knock-down rebuild calculator that will give you an accurate comparison of the costs. We recommend chatting with a local builder to discuss your options and receive a quote that is customised to your home, block, and needs.
Whether you decide to renovate your home or start fresh, we have a portfolio of reputable builders in your area that can help you with your project. Find your perfect builder now!