Sell, Renovate, or Knock Down?
In this article I will explore the options available if you want to create a better home for your family.
Are there better alternatives than renovation?
Can’t face the hassle of renovation?
Renovating your home might not be the only solution or even the best solution. If you can’t stand the thought or the hassle of tradesmen traipsing through your home, there are other possibilities. A great design and build advisor will likely take you through the process of deciding on alternatives. The main alternatives to renovating your home would include:
1. Knock down and rebuild.
Sometimes this is more financially feasible than doing renovations, and it removes the limitations of the existing home.
Other times it may cost more than doing renovations but having a new home would be more valuable and desirable. So before committing to a renovation, discuss the knock down rebuild option with a builder who specialises in new homes.
2. Sell and buy elsewhere.
Sell this home, and buy another which has all you want in it.
If you are happy to move from your neighbourhood, this can be a great option.
However, it is not always easy to find the perfect home.
Can you buy the perfect home and sell yours at the same time?
Be aware that the stamp duty, agent’s fees and commission as well as moving costs can often exceed $160 000.
3. Don’t do anything.
A simple freshen up might be adequate for the moment. You don’t have to do anything, if you can put up with living with the current limitations of your home.
Make sure you consult a professional designer/builder who will help you evaluate the best alternative in your particular and unique situation.
– Roman Pazniewski