Knocking Down & Rebuilding Your Home
A popular option when building your new dream home is to knock down your old one and start from scratch, but on the same lot of land.
Location is always near the top of the wish list when searching for a home, which leads people down the path of a knock-down-rebuild (KDR) to live in the area they desire.
There are often limitations with renovating (removing structural walls, increasing the square footage of the home) both substantial changes that cost a lot more than clients often budget for.
By building a new home, clients will then have the option to design their dream home and get the layout/inclusions that they wish.
Stroud Homes Toowoomba builder Patrick Neville tells us more…
Knock-down-rebuild specialists: Greg & Patrick Neville of Stroud Homes Toowoomba
One of the biggest benefits of a knockdown rebuild is that it can often be more cost-effective when compared with renovating.
Renovations often mean having to live in a construction zone and can also be very time-consuming, especially when unforeseen construction issues arise.
With a knockdown and rebuild you also avoid paying the stamp duty when compared to selling and re-buying a new property.
Of course, keeping the same location is also a big plus allowing you to maintain the same lifestyle; kids are settled at school, friends and family often live close by, familiarity with the area etc.
Some further advantages include:
There can be substantial costs involved with preparing the site for a rebuild. The cost of demolition is regularly under-estimated and can add a substantial amount to the all-in budget before construction has even begun.
During this process clients will also need to rent or find other accommodation until the build is completed.
Ideally clients manage to find a short stay with flexible leasing options at an affordable rate that can accommodate all their possessions.
The main question clients should ask themselves is their reason for considering a knock-down-rebuild in the first place.
Is location important or would they be better off financially to just sell their current house and look for a vacant block of land to build instead?
It is important to have a clear idea of WHY you are rebuilding.
Is location the driving force behind this and are not willing to compromise (e.g. no land available in the area) or does the design/size of the home no longer work for your needs?
For more information about knock-down-rebuilds, please don’t hesitate to contact the Toowoomba team by calling 0438 703 586.
Stroud Homes Toowoomba Sales Consultant Megan Thomas