Many people have the misconception that renovating is cheaper and faster than building a new home. Here’s a couple of questions to determine if renovating is truly the right option for you!
Does your home hold emotional significance?
If you answered yes, you should consider renovating! If you have found a home that you want to preserve the majority of, then renovating may be the best path forward!
Is your move in date flexible?
If you answered yes, then renovating is a possibility! Construction timelines for renovations can be more unpredictable than new builds. All homes have quirks and age differently, making it harder to determine what a renovation will be like before it begins. Be sure to chat with your builder about their process, how they handle overages and savings, and their experience with renovations.
Is the reason you are considering renovating mainly about interior design?
If you answered yes, you should consider renovating! Giving your current home a refresh through new cabinetry, wall coverings, tile and flooring options, is very possible to achieve in a timely manner and a predictable budget.
Any structural changes to your home, like changing the floor plan or ceiling heights becomes a large-scale renovation that is a lengthy and expensive process. The cost also increases ten-fold if your renovation includes changing anything in the foundation of the home.
The architectural design processes is often cheaper and faster for a new build than with a largescale renovation. This is in part because everything touched in a renovation has to be brought up to current safety codes. When building a new home you can achieve your ideal home design without question, ensure everything is up to code, while also having greater control over the timeline and budget.
Are you hoping to add many new appliances, bathrooms, a golf simulator, and sauna?
If you answered yes, you should consider building a new home. When you plan your home’s design to include these fun features you can guarantee your ideal floor plan, that the plug ins will be in the right place, the water will never run cold in the shower, and your home is incredibly energy efficient.
Was your home built before 1990?
If you answered yes, you will have to complete asbestos testing whether you are renovating or demolishing to start a new build. For renovations you only need to test the area of your home you are working on. If asbestos is found you will have to schedule removal before beginning your renovation project or proceeding with demolition.
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