If you’re happy where you live, but you’re sick of your old home, there’s no need to pick up sticks. Instead of buying a home somewhere else, a knockdown rebuild could be the perfect answer. Not only can you keep living in the area you love, but you’ll also have all the benefits of a new home designed specifically around your needs.
The fact is, renovations can often cost the same as knockdown rebuilds – sometimes more. Plus, you’ll save thousands on stamp duty, legal fees, real estate agent fees, and relocation costs. In the long run, this can make the whole process easier and more affordable for your family. Let’s take a closer look at the benefits.
A knockdown rebuild can be cheaper than renovating or moving
One of the big benefits of a knockdown rebuild is that it can be often be more cost-effective than renovating. Renovations can be time-consuming, complicated, and riddled with unforeseen construction issues.
Construction aside, moving home means you’ll have to pay stamp duty. The amount you fork out will depend on where you live, the amount you pay for the home, and the type of property you’re buying. There are also refinance costs, agent fees, legal fees, conveyance costs, and building and pest inspection costs to consider. Thinking of renovating? Then you’ll have to budget for labour expenses, materials, permits and council fees, design fees, inspection costs, and repayments for any loans you might have taken out.
Ultimately, the costs of moving and renovating can really stack up. On the flip side, rebuilding your home means you can avoid paying stamp duty or buying a block of land that’s outside your budget. The only downside is that while your property is being rebuilt, you’ll need to rent out another property in the meantime. Given current rental availability the move could be quite cost effective.
Stay in the location you love
While knocking down your home and rebuilding a new one can have plenty of financial benefits, it can also have a huge impact on your lifestyle. Does your area have great schools for the kids? Are there solid working opportunities for you? Is there a thriving and friendly community? If the answer is a resounding “yes” to all these questions, then moving away from this doesn’t make much sense, more often than not loved gardens or tree can be retained.
A knockdown rebuild lets you build a new home, but stay in area you’ve grown to love. So in terms of lifestyle, it’s a win-win situation. And the truth is, it’sbecoming more common in suburbs across Australia.
A knockdown rebuild gives you freedom of design
The beauty of a knockdown rebuild is that you’re given a blank canvas. You can build the home of your dreams, experiment with style and structure, and add your own unique flourishes. Renovations require you to work around your home’s existing structure, which often involves a level of creative compromise to satisfy the budget. However, starting fresh means less compromise and more options, both in size and style.
Another drawcard of the knockdown rebuild process is the opportunity to design a truly sustainable home. By incorporating elements of passive design into the build, you can ensure your home gets maximum sun exposure in winter, and maximum shade in summer. Plus, if you insulate your walls, floors and roof, you can maintain a comfortable temperature in your home without using as much energy.
Sustainable methods like these will not only decrease your home’s carbon footprint, but significantly cut down your energy bills too. You can also use sustainable and climate-appropriate building materials, as well as make use of the latest smart and eco-friendly heating, lighting, and water features, fixtures and appliances.
Rebuilding your home also allows you to think ahead and design a home that can adapt to your changing needs. This approach comes in handy if you’re thinking about starting a family down the track, or you’re worried about the high costs of renovations and extensions.
The bottom line
While the idea of a knockdown rebuild can be a little daunting at first, the potential payoffs are huge. So if you’ve outgrown your home and desperate for a change, it’s certainly worth thinking about. Not only can it be a cheaper alternative to moving or renovating, it also gives you the opportunity to stay where you are and build something you’re proud of.
It costs nothing to discuss it with a new home consultant, we may even have examples under construction or completed in your area.
