Which is a More Rewarding Option? Home Renovation or Knockdown Rebuild

The important decisions of your life are always arduous to take because these sorts of decisions affect your life. And the decision about your house is one of them. Indeed, it is very hard to choose between home renovation and knockdown rebuild, because both aspects have their own essentiality and benefits to offer.

Home renovation or knockdown rebuild?

The question of a home renovation or knockdown rebuild is very hard for those who recently bought a new house but are not satisfied with the architecture, or even for the ones who have spent years in their old house. So in this particular situation, one needs to be very decisive and thoroughly consider some factors like knockdown rebuild cost or cost of renovation, condition of the house, aspect of return on investment, ongoing expenses, and last but not the least your personal opinion or satisfaction is also a core factor to consider.  

Main factors to consider:

1) Budget

Your work, planning and even speculation about something solely depend on the budget. It is very important to consider or make your budget if you are planning about the home renovation or knockdown rebuild. Certainly, home renovation is the most desirous way to change the quality of your house in a very small budget. The makeover of your kitchen, bathroom or living room renovation can be easily done without high pressure on your pocket.

But on the other hand, demolish or rebuild of a house is a massive commitment. Because you need to execute everything with perfection. The budget and planning have to be perfect to give better aid. Because after demolishment you do not have an option of turning back.    

Also Read: Five best ways to renovate your home without exceeding budget

2) Time

Yet another core difference between the two sides is time. Though its depend on the nature of the work and your preference because in the context of home renovation, how much change you want to make in your house or particular section shows the criteria and duration of time it will take.

For example, if you want to renovate your living room or entrance, then it will consume less time; but if you are planning about the layout makeover, then obviously it will consume more time.

On the other side, it is very clear because you have made up your mind about the demolishment and knockdown rebuild aspect. And that is why it can be done with ease. But again all this work depends on your approach to work. 

3) Consideration of goals

Certainly, the answer to home renovation vs knockdown rebuild can be achieved by your project goals. It means, what you want to attain through these aspects. A rebuild aspect starts with a knockdown process and from the starting you have total control over the things.

In simple words, you know clearly what you want to make or what are your desired goals? A new house will give high resale value and return on investment.

On the other hand, home renovation is the perfect way of achieving great things with small changes. Through small makeover, you can enhance the beauty of the house and by renovating some section only, you can get high ROI.      

4) A facelift

This is one of the essential differences between knockdown rebuild and home renovation because what kind of facelift you want to give your house is one of the essential reasons which can help you in the selection of mode.

Simply, if you want a small makeover then you can choose the home renovation idea. But if you are not happy with small changes, then a knockdown rebuild is the ideal approach for you.  

5) Financing

Yet another important factor to consider before finalizing your decision. The aspect of finance is very important because if you are going for the renovation then it is easy for you because you need some less amount of money, but the complete home remodelling of the house requires a healthy amount of money. That is why you need to consider and make your financing option done before moving ahead. 

So, these are some major factors which will help you to choose the better option for you- home renovation or knockdown rebuild.

 

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Shahram Shajarat is the director of RPG Services and member of Master Builders Associations (MBA) in Australia. Located in Newcastle (Australia), Shahram is licensed for building new homes & handling renovations, extensions and other Civil Projects.


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