To Renovate or Build New
Kitchen renovation connecting to the outdoors
Acquiring a vacant block of land to build a new home in a desirable location in our cities has become increasingly unattainable due to supply. Consequently, more property owners are forced to consider whether they renovate or build new on their existing site.
To make an informed decision and ensure you choose the best investment for your lifestyle and circumstances, it is important to research and seek professional advice to gain an understanding on construction design and costings. Deciding on whether to renovate or build new will depend on the condition of the existing house, the comparison of costs involved such as whether to demolish or raise an existing house, the design specifications and of course the overall construction costs.
To renovate will depend on the following considerations:
What is the scale of the renovation; is it mostly cosmetic or will it require significant changes to the floor plan, the knocking down of internal, external walls, extensive plumbing, removal of asbestos etc?
Can the property be lived in while the renovation is taking place (this is important to consider as the cost of renting elsewhere will need to be added to the budget)?
Living in a house while renovating is very disruptive. Are you able to tolerate the noise, dirt, or not having access to water or power for periods of time?
Can the renovation be carried out in stages? Staging a project will allow for flexibility with financing but is also inconvenient and there is a risk that the renovation becomes piecemeal if not master planned upfront.
Is the existing house structurally sound? Older houses in good condition may have solid brick walls, or hardwood timbers and features that will not be replaced if building new.
Are there quality, historical or aesthetic features from the existing home that you wish to, or are required to preserve?
There is a risk of setbacks or further costs once construction begins, for example, finding structural or termite damage, rot, or other nasty surprises! For this reason, we recommend having a 5-10% contingency on top of your overall construction budget.
Architects are skilled at using materials and their knowledge in design to integrate the old and new but there may be aspects of the design that are restricted if the renovation is to complement the existing home or meet council requirements. e.g. Character and Heritage codes.
Do you need to raise the house to utilise the space underneath as is typical of many post war and Queenslander homes? Raising a 3-bedroom house alone can cost approximately $25,000, vs the cost of demolishing an existing home and clearing the site. In Australia a rough estimate is $16,000 How Much Does It Cost To Demolish A House? (Price Guide 2020) (buildsearch.com.au)
Having lived in the house also has the benefit of knowing its strengths as well as design flaws to provide valuable input into the floor plan layout, however knocking down and building new allows you to be uninhibited with the plans and design, if it meets site overlays and council building codes.
Building new does have the following advantages:
Building square metre (sqm) rates are typically cheaper than renovation sqm rates.
There are usually less hidden variations or unknowns when drawings are produced by a qualified Architect as all details are documented in construction drawings.
Construction timeframes from commencement to completion are quicker when building new.
View our renovation page to see some amazing before and after transformations or contact us today on 0409 5777 05 or info@baastudio.com.au if you need professional advice, or our BAASTUDIO information kit detailing the range of services we offer.
