Renovate & Extend vs. Demolish

One of the questions we get asked all the time is “Should I renovate and extend my home, or should I demolish it?” To help you answer this question there are a few things you need to consider when making a choice.

What do you want to achieve and why? If you are wanting to make big changes or extensively change your existing home, then you need to consider if it is the best investment of your money. If very little of the existing home will be retained, it might be more viable to demolish and start from scratch. If there are parts of your home that you love, and it has some great features and characteristics then an extension or renovation will be your best choice.

Are there any planning restrictions? Depending on the area you live in, council planning laws may prohibit you from knocking down or significantly changing your home. Heritage listed properties or houses of a certain age are especially affected by these laws.

How much should you invest in this project? Before you set a budget, you need to do your research. What is a normal house worth in your area? Let’s say that a normal property in your area is worth $1.5 million but with an exceptionally designed & built home the property may be sold for up to $2.5 million. This ‘premium’ price will be paid by the new owner when your home has excellent design quality and architectural consideration. This new home becomes rare and one of a kind and is far more desirable to potential buyers.

What is your budget? Once you have worked out how much you want to and can invest, setting a budget for your project gets easier. Be sure to consider if you will need to relocate and rent while your project is being undertaken as this will add additional spend to your project.

When you are ready here are 4 ways we can help you:

1. Help you understand your location and the potential value a great design could bring.

2. Show you how to set a budget based on your design expectations and existing house.

3. Provide you with all the right information for your project so that you can avoid surprises and hidden costs.

4. Provide you with project costs and likely time frames.