One of the challenges we hear homeowners grappling with most frequently is whether they should renovating their current home or building a new one.
We know how difficult that decision can be and know there are many factors that come into play when making it.
Renovating and custom building each have their own advantages and disadvantages. A lot also depends on your budget. You may find that building new will be more economical that renovating, depending on how extensive the renovations may be.
So, here are a few considerations before determining which to choose.
What’s in a name?
Defining Renovation and New Construction
A renovation means making changes to an existing structure. A home renovation can be anything from a single-room remodel to a complete gutting of the interior. Your design ideas and concepts will conform to an already created space.
With new construction, your house is designed and built from the ground up.
Your custom home team will likely consist of an architect, builder, and interior designer, with whom you’ll likely collaborate with the most.
Renovating: The Considerations and Benefits
Learning as much as you can about your current house can only help the renovation process.
A few questions to ask yourself:
- Is the home in a location that makes it worthwhile to renovate?
- What budget should you stay within to keep your total home value at a saleable level?
- Do you have access to your home’s original building plans?
- Is the home a historical structure?
- Have any renovations been made in the past, what they were, and why they were done?
- Are there any hazardous materials that may preclude removal or construction in any area of the home?
- What is the structural soundness and health of the foundation? If there is a crack in the foundation or frame, demolishing the existing house and rebuilding may be more economical.
- Why are you renovating?
Here are some of the benefits of a renovation:
- You continue living in the home you have created so many memories in.
- You may not need to move temporarily depending on the scale of your renovation.
- Updates can make your existing home more environmentally friendly and energy efficient.
- A renovation can increase the value of your home.
Building New: The Considerations and Benefits
A lot of decision making and planning go into building a new custom home.
Whether you are considering building new because you want to relocate or are tearing down an existing structure to build new, you will want to consult with a custom builder to help answer some of these important questions:
- How long might a custom build take?
- What are the local building codes?
- What are the weather and the environment conditions of the area that may impact your design?
- How will the soil impact your plans and foundation design?
- Are there any neighborhood orHOA restrictions?
- What is the availability of various materials and contract labor?
- Do you have a design style in mind?
- What types of living spaces are needed to fit your family’s lifestyle?
Your architect, builder, and interior designer will help you answer these questions, so it’s important to put that dream team together early on in the process.
It’s important to keep in mind that building a new home will likely take longer to complete than a renovation, given all of the site preparation, permitting and approvals that come with this type of construction.
The benefits of new construction may include:
- maintenance and repairs should be minimal given all new appliances and fixtures are being used.
- The use of sustainable materials and designing an environmentally efficient home.
- Implementing new technology, like smart home solutions to handle today’s devices and lifestyles.
- You don’t need to try to fit your ideas into an existing layout or structure, thereby allowing for more design options.
- The layout and floor plan are customized to your specific lifestyle.
Comparing Renovation to New Build
Renovating or building new depends on a host of individual factors and situations.
- With a new build, it is easier to determine a layout and floor plan; renovation limits the changes.
- Building new vs. renovation timelines differ. If your renovation project is entirely interior, you should experience no weather delays. The weather can get in the way of constructing a new house until it is enclosed and weather-proofed.
- The difference in costs depends on the extent of the renovation you are planning; however, there is always the chance that unexpected findings will cause costs to rise. A new house won’t be hiding asbestos, rotted wood, or an electrical or plumbing system that doesn’t meet code.
Your needs, situation, and budget should ultimately help you in making a final decision between renovating or building new. Whatever decision you make, Evergreen Homes can build or renovate your house so that you can make it your home.
Give us a call today to learn more!