When deciding between renovating your home and tearing it down to start over, it is essential to keep some things in mind, such as the property’s zoning, age, and costs.
Permits and Zoning
When you take on a significant construction project, you must secure the proper permits from your local municipality. As part of this process, you must ensure that the project will not violate local zoning laws, such as putting an additional living unit on the property when only one residence is allowed per lot. In most cases, it can be easier to secure a permit for a renovation than a total home tear down and rebuild.
Age of the Home
Older homes will have features not up to current building codes and must be fixed, whether you rebuild or renovate. Some of these features can be addressed with a small renovation, but others require a rebuild. For instance, if the age of your home has caused foundation problems, you have asbestos insulation or ancient wiring. It can be easier to have the professionals take the structure down and build it back up in compliance with current safety and building codes.
Costs and Resell
In general, it is less expensive to do a renovation than a rebuild. In some cases, however, the age of the home or the damage to it will make it more cost-effective to rebuild the house. If you want to resell the property soon, it is vital to remember that rebuilding the home resets the clock for the property’s age and features, which will likely result in a higher resell value.
Sometimes, when considering renovations and upgrades to your property, it can be more cost-effective to tear the whole thing down and rebuild it instead. When deciding between the two, it is essential to consider things like permits and zoning, the home’s age, and resell value.
Meg is an author at Cinnamon Hollow. She writes on a variety of topics sharing tips and ideas for daily life.