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Are you satisfied with your house? Do you feel you need more space because your family is growing? Do you want a new home but don’t want to move to a new area? A study has shown that moving to a new neighborhood is considered to be a significant life change and causes people a lot of stress. Sometimes, it’s more stressful than separation or divorce. There are numerous reasons why homeowners would want to stay in their neighborhoods. Their work might be more accessible from where they are, or maybe their kids are happy with the school they’re attending. For those people, there are only two options – knock down rebuild or renovation.

There are many things that you should consider before deciding which option to choose. How much is your budget? What are your goals? Do you like a specific design? How much time do you have? Those are things that you need to think about before considering a project of this magnitude.

Goals and Costs

First, consider the costs. The average cost per square metre for a knock down rebuild is $1,600 – $1,800. According to Renovation Junkies, the average price per sqm of a renovation ranges from $2,500 to $4,000. The former is the way to go here. It gives you the ability to do more with your money.

Next are the things you want to accomplish. Do you only want to add one room? Do you want to add an entire floor? If you only need to add one room, maybe renovation is the better option. However, adding another floor may present more problems than solutions. The builders have to check if the foundation of the existing house can support another level. Also, the columns of the house need to be checked. They might not be strong enough to support an additional story.

Time and Design

If you already have a specific design in mind, a knock down rebuild might be perfect for you. It’s easier to begin from the ground up rather than renovating what’s existing if you want to stick to the design you want. Additionally, you don’t have to settle for features in the previous construction that don’t necessarily work for you. Start fresh.

Time is also an essential factor in a project like this. Maybe you have a party that you’ll be hosting, or your family is coming over for Christmas, time is crucial. Most builders swear that a knock down rebuild is faster than a renovation. That’s because you don’t have to tiptoe around what’s already standing. You just knock it down, clear the area and start building. Renovations can be a little more complicated. You have to decide which features stay and which of them need to go. You get dizzy just by thinking about it.

Again, wanting something new doesn’t necessarily mean you need to do a knock down rebuild on your old house. Still, with the rising renovation costs in Australia, this option is becoming more attractive to homeowners. When you also consider the time factor and the freedom to choose the design you want for your new home, it’s starting to look like the only sensible solution. By doing a knock down rebuild, you give yourself a chance to start fresh in the most efficient way possible – using less money, less time and less frustration. Having a new lease on life has suddenly taken on a new meaning.

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