Renovate or knockdown rebuild?

Discussion in 'Renovation & Home Improvement' started by Projectwow, 29th Aug, 2020.

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  1. Projectwow

    Projectwow New Member

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    29th Aug, 2020
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    Location:
    Vic
    Currently live in a 1970 home with a two story extension added by previous owners.

    Unsure where to start?
     
  2. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    We went through this process a few years ago. We looked into a renovation/extension to try to bring the house up to what we wanted. We also looked into what it would cost to demolish and build what we wanted from scratch. We got some (very) basic ideas and quotes for both.

    In our case the house we started with wasn't great, there wasn't really anything we liked about it. It transpired that the costs of the two wouldn't be that much different, but for about 20% more the completely new house would mean no design compromises would be needed. We knocked down the existing house and built from scratch.
     
    Beano likes this.
  3. Zimplestiltskin

    Zimplestiltskin Well-Known Member

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    Location:
    Melbourne
    If it's structurally sound then I'm always going to be pro-renovation even if it costs the same.
    - More environmentally friendly
    - May keep legitimate heritage features
    - Like before and after feel
    - Enjoy telling the story of how old it was and the changes made


    It really depends what you want with the house. Renovating can usually be the best option for IP because it's cost-effective and less time-consuming (depending on scope).
     
  4. Joynz

    Joynz Well-Known Member

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    Location:
    Melbourne
    Not possible to answer this question unless you detail what is already there and what you want to achieve.

    What is the gap between what you have and what you want?
     
    wylie likes this.