The perennial question: should you renovate or build a new home? With so many variables to consider it really depends on your individual situation. The reality is that the price to renovate your home often exceeds the cost-per-square-foot of new construction. However, if you hate moving and love your neighbourhood, perhaps renovating is for you. This article will explore why you should and shouldn’t renovate, and when you need to consider building a new home. If you have any questions and are interested in chatting about building your own custom dream home contact the experienced professionals at L Patten today.
New Home Builders Collingwood: Renovating vs. New Construction
Why is building a new home often more cost-effective than renovating the old? Because constructing from nothing, you start with a clean slate. You can have a detailed plan, schedule, and know more about what you are getting yourself into. Also, when working with a builder like L Patten, they are able to tell you exactly what to expect, what the process will look like, and you have a plan and schedule.
However, with remodels, the builder is forced to work with the house that is already there. This means a lot more unpredictability. Instead of walls simply being built, old ones must be torn down and then rebuilt. If window and doors locations are changing, they must be closed up, insulated, etc. and new ones must be cut into place. Because there is an existing structure the process is much more complicated. There may be surprises in a re-model that no one accounted for, both time-wise and design-wise, and you can guarantee surprises cost-wise. Check out this National Post article.
When Should You Renovate Instead Of Buying New?
- If you love your neighbourhood
- If you have an emotional attachment to your home
- If you have the money to make the changes
- If you would rather invest in your home than spend money on moving
- If your home is not at its peak in your neighbourhood
- If you live in a mature neighbourhood and would like to stay there
- If you don’t have the money to consider building a whole new home but want to renovate room-by-room
Where To Start When Considering Renovation vs. New Build
Start by speaking with the home builder that you would like to work with. Don’t try to coordinate a major renovation on your own - this requires skilled professionals. By sitting down and discussing your goals, budget, and more, you can figure out, with expert input, which option is best for you.
When Should You Build New Instead Of Renovating?
- If you don't love your neighbourhood
- If you don't have an emotional attachment to your home
- If you have the money to start fresh
- If you would rather invest in a new property than spend money on renovating
- If your home is at its peak in your neighbourhood
Benefits Of Building A New Home Instead Of Renovating
There are a number of benefits to building a new home instead of renovating. First of all, you don’t have to live in the chaos of construction and renovations for months during remodelling. Secondly, designing and building a new home allows you to build a more efficient and sustainable home. With advances in technology, a new build can be built with systems that keep energy efficiency and environmental sustainability at the forefront, thus reducing costs long term.
With technological advances, electrical needs in a home are different now than they were fifty years ago. One of the main advantages of building a new home is creating an entirely new building to integrate the electric systems with today’s technology, and even future technology, in mind. As well, if aesthetics are a higher priority than technology or efficiency, starting from scratch is likely the better option. Designers and architects have more freedom when they are building fresh rather than working with an old structure. There will also be less maintenance this way, as everything is new and nothing will immediately need to be maintained or updated.
Trust The Professionals At L Patten
Whether you’re considering a remodel or new build, trust the professionals at L Patten to help you make your decision. Case-by-case we evaluate what the best solution is for you. As experts, we can help you make an educated decision. Contact us today to find out what the best option is for you.
"Over the years, we have come to know Jerry and his group very well. They are a joy to work with and will deliver whatever they say they will. Jerry is trustworthy, dependable and responsible. He is also a very nice guy. For any building project he is our choice."
- Gerry and Gail