When you’re on the hunt for your dream home, buying or renovating often seem like the only options. But, whether you’re just embarking on your home journey or you’re a seasoned owner, it’s worth thinking outside the box to get what you want. A Knock Down & Rebuild is currently an under-the-radar option, but it’s growing in popularity – especially with those who love their location but not their home.
- Cost comparative
Budget and cost are, most likely, always going to be at the top of your list of concerns when considering a new home or renovating. Renovations and re-clads can often cost as much as building new but come without the benefits of a new modern home. Renovations are also associated with financial uncertainty. Unforeseen problems such as leaky pipes, dodgy foundations or undetected asbestos can turn a renovation into a costly nightmare.
Construction aside, moving home means you’ll have to pay stamp duty. One of the big benefits of a knockdown rebuild is that it can be often be more cost-effective than renovating.
- Stay in the same location
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.
- Build your dream home
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.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.
- You maintain your equity
Homes built over 40 years ago may have depreciated, but the land value has continued to climb, particularly in established Melbourne suburbs. If this is you, it makes sense to take advantage of your strong equity and stay in the same locale, with your new home building capital value.
Ready to build your dream home? ParkVue Homes is one of the leading New Builder Greenvale. Contact us today to arrange an obligation free site assessment.
