If you live in a home that is not aging all that gracefully you may find yourself weighing the pros and cons of renovating or a complete rebuild. When you remodel a poor choice of tile can be an easy and reasonably expensive fix, with a decisions to tear down and rebuild that choice is pretty final.
Renovating might feel like it can be fixed with a little loving care when in fact it needs a ton of love to have it looking its best. Homeowners can be blinded by their emotional attachment to their home and all the memories it holds and not objectively be able to make a decision. There might come a time when an exterior paint job, whole house flooring replacement or updating fixtures is not a good investment. For most people their home is the biggest investment they make so a critical eye is essential when choosing to renovate or tear down and rebuild.
All houses can be remodelled however not all homes should be for the following reasons: consider if by renovating it will give you adequate space within the present footprint with no addition needed which can increase costs. What condition is the foundation in at present, if a foundation has a history of leaks or cracks a new build might be a wiser choice. Is the ceiling height too low, increasing ceiling height is no easy job unless of course there is good usable or unused space above the present ceiling.
The case for a tear down and new build may prove to be the better decision when you consider it completely resets the clock. A new build gives you a better quality home and if you plan to sell at some point rebuilding is a better option. From an investment perspective money spent on a new build is a wiser decision when the time comes to sell. Plus with a new home you get to enjoy all the technology available that your present home doesn’t have.
If you want better a teardown and rebuild is the way to go keeping in mind that once you’re faced with a vacant lot you have to keep going. Renovating is the cheaper option as it gives you more control over the amount you spend by making adjustments as you go along. One final point that might influence is community restrictions and whether your rebuild meets present standards.