Can I knock down my house and rebuild? If you’ve asked this question recently, you’re not alone. According to Tim Reardon, the chief economist at The Housing Industry Association, 8.2% of all new home builds under construction by the largest 100 builders in the country are knock-down rebuilds. Over the past four years the number of knock-down rebuilds has increased year-on-year.
So, how do you know when it’s time to knock down and rebuild your home? Isn’t it enough to simply remodel or renovate? There are times when the benefits of demolishing the house far outweigh those of simply renovating. We’re going to take a look at five of these situations.
1. When the house has a foundational problem
The foundation is the bedrock of any home. And if it is damaged in any way or the house has severe structural issues then it’s certainly time to consider knocking down the building. If you live in an area that’s prone to natural disasters or your house has been around for a really long time, you might want to get a local contractor to take a look at the foundation to ensure that it’s still solid and intact.
2. When the house doesn’t comply with modern housing restrictions
If your house does not comply with modern building restrictions where height, width and length are concerned, you might want to think about demolishing it. This is particularly true if you want to make any alterations or extensions to the current house. A visit to your local council will help you establish what the new regulations are. While you’re doing your research do ask around and get quotes so you know the actual cost to demolish and build a house.
3. When you don’t like the house anymore
It does happen that perhaps you’ve inherited a house from your family that you don’t like and you have no sentimental feeling for it. In this case you can have the entire structure taken down and either sell the land or have another new home built from scratch. Before you go on and knock it down however, it’s good to know the following knock down rebuild prices:
Demolition costs within Sydney for a standard house are around $15,000 – $30,000
Factors that can affect demolition costs include the size of the house, asbestos removal, tree removal, ease of access to the site as well as structures within the environ that can complicate the job.
4. When the present house lowers the land market price
Perhaps you’re planning on selling the lot of land the house is currently built on. If the house is in bad shape it can lower the market price of the land. If this is the case, it might be time to consider getting rid of the house completely. You may be able to fetch more for the lot of empty land and the new buyer will have a clean slate when thinking of building new start homes.
5. When renovating is more expensive than knocking it down
Some homes are so old and worn out that renovating them can be more expensive than knocking them down and building a completely new home. A simple comparison of renovating prices and knock down rebuild prices will be enough to help you make the right decision. Use this approximate knock down rebuild Sydney prices range $15,000 – $30,000 to help you in your decision.
To discuss knock down and rebuild projects in Sydney contact Xclusiv Built Projects – Home Builders Sydney.