Renovate or rebuild?
To renovate or rebuild? That is the question and a typical dilemma when making major changes to your home. However, it is a good dilemma to have, as it means you are about to start the journey of creating your dream home.
A lot of homeowners decide to purchase distressed properties because there is a higher return on investment, leaving the budget spare to create the property of their dreams. But you have to think, will a major renovation be enough to create the sort of home you envision? Is it worth it? Would it be better to simply start with a blank canvas instead?
There are a number of different moving parts that ultimately determine whether to renovate or rebuild. They have to do with planning permission, design freedom, financial cost and the structural possibilities. You might also have a family attachment to the property or have lived there for quite some time and can’t quite see yourself being parted with it.
No matter the situation you find yourself in, in this blog post we will take you through the pros and cons of renovating and rebuilding so you can make the right decision for you. Needless to say, there is no magic formula or a clear-cut answer.
What does your existing building offer in terms of style and charm?
You are undoubtedly going to benefit from more design freedom if you go for a complete rebuild. However, there is the other side of the coin, and this is the architectural or historical charm of your existing property. Does it have any historical merit? If so, it’s unlikely that it is going to be a property that you are going to want to give up that easily. You also need to think about how far the existing layout and style are from what you want. There is no denying that the main reason why homeowners go for a complete rebuild is that it gives them complete creative licence without any boundaries to hold them back in terms of design.
What about planning permission?
Another area that you are going to need to consider is what sort of planning permission you will need. A new build home will have to meet all modern building standards and therefore involve more complex planning applications. When renovating a property, planning permission is not always required. In fact, a non-compliant building is acceptable so long as it does not deteriorate the current level of non-compliance. You would not be expected to include wheelchair accessibility and achieve certain energy efficiency levels, for example.
How much will both options cost?
You need to work out your budget and weigh up the options. A full house renovation may be more expensive than demolishing and rebuilding an existing property. This is not what people tend to expect, and this is why you need to speak to an architect to help you work out the finances rather than working from general assumptions. One reason why renovations can be a lot more expensive is that you will have 20% VAT added to everything. However, when you build a new home, some items are 0% VAT via a VAT rebate. This can result in a huge saving overall.
Is the existing structure of good quality?
The next element you need to consider is the structural quality. If the structure is poor, rebuilding would be the obvious solution. However, if there’s nothing wrong with the structure, renovating might be your best bet. Of course you don’t want to take any risks with an unsound structure. It will often cost you more to make a structural change during a renovation, so you may be better off demolishing for a rebuild to begin with if you envision that there could be some issues with the structure.
Which option is the most environmentally sustainable?
Last but not least, you also want to consider the environmental sustainability of the project. Generally speaking, it is greener to work with what you have instead of replacing it. Embodied energy is not insignificant with regards to self build homes. This relates to the energy that is needed for the construction of the house which includes transportation and manufacturing of materials. You also need to consider the amount of rubbish that will end up in a landfill through the demolition of the property. If environmental sustainability is a key factor in your decision, you are better off opting for a rebuild.
As you can see, there is a lot that needs to be considered when deciding whether to renovate or rebuild your home. If you’re still in the dark, we’re here to help you make the right decision and create the home of your dreams.
