Finding a home that truly suits you down to the ground in every way is considered an impossible dream by most of us. Far too often, prospective homeowners find the perfect home for them in a location that doesn't suit them, or vice versa. However, the perfect home in the perfect location need not be two mutually exclusive dreams -- with a knockdown rebuild, you can erect your perfect home in the location you desire, and potentially save a few dollars too.
What is a knockdown rebuild?
Put simply, a knockdown rebuild occurs when a house buyer purchases a property, demolishes it and builds a new home on the newly-cleared land. A service now offered by many new home builders, knockdown rebuilds are a particularly common occurrence in older neighbourhoods dotted with aging, outdated buildings, or previously low-income neighbourhoods which have recently become more desirable.
What are the advantages of choosing a knockdown rebuild over renovating an existing house?
A knockdown rebuild is by no means the cheapest or easiest option 100% of the time, but under the right circumstances choosing a knockdown rebuild can have many advantages over renovating an existing property on your newly-acquired land:
- Flexibility: Renovating an existing property means adhering to the original floor plans and planning permissions of the existing building, giving you very little architectural versatility and potentially hampering future attempts to expand your property (for example, with a sunroom or second-storey extension). By building a new property, you can be assured that your hew home features the size and layout you desire.
- Modernity: Renovating an aged home can force you to live with some pretty outdated design choices, such as unsightly siding materials or dated interior mouldings. With a knockdown rebuild, the home you eventually live in will feature all the up-to-the-minute styles and materials offered by modern home builders.
- Reliability: Moving into an older home can also mean having to deal with dated fixtures and fittings, and moving into your new home only to discover you are now relying on a 30 year old heater and 50 year old pipes can be somewhat disheartening. A knockdown rebuild ensures that your home's fixtures and fittings are brand new, and can be expected to last a long time without repairs or maintenance.
- Affordability: It may seem counter-intuitive, but in many cases a knockdown rebuild can be a significantly cheaper endeavour than fully renovating an existing property. If an existing property on your newly-acquired land is very large and/or very dilapidated, simply knocking it down and replacing it can be considerably less expensive once labour costs and other expenses are factored in. Demolishing the previous building also raises the possibility of selling valuable salvage to defray your building costs.