As a premier company who provide home improvements and house renovations in Perth, we are often asked by prospective customers whether it would be wiser to demolish and build from scratch or to build a home extension onto their Perth home.
There is no “one size fits all” answer here because everyone’s situation is different. We like to ask a few questions of the owner first. Here are the main factors to consider when deciding whether to demolish or add on to your current home.
What Shape is Your Current Home in?
This is an obvious question to some and an important one, but some don’t think of it. If your home is structurally solid and fairly new, you wouldn’t want to even think of demolishing it. On the other hand, if your home has sustained termite damage or has structural weaknesses, has been mistreated by tenants or is nearing the end of its lifespan, it might be better to start from scratch.
Most people, though, live in homes that can handle an addition just fine and would be wiser to add on.
The Financial Implications
To take full advantage of your investment, it is recommended that you spend at least 75% of the value of your land on your new build. If you aren’t living on a plot of land with a high value, rebuilding may be worth investigating. However, if your land is worth $600,000, you would spend $450,000 on your home. Then you would have to finish it off with flooring, painting, curtains, landscaping and all of the other “extras” that make a home liveable and rentable.
If you spent even $400,000 of that money to build a seamless extension, you would save money and have a house that has increased in value close to as much as you spent, if not more.
The Choice is Yours
As far as we’re concerned, unless your house is too old or damaged beyond repair, you should talk to us about a seamless addition. It will raise the value of your home and you or your renters can continue to live in the home while the addition is being built.
For more information, call Max Sardi at Next Level Extensions: (08) 9240 5888.