If you’re thinking of remodeling a house, you’re probably wondering if you’d be better off starting fresh—and vice versa. This can feel like a daunting decision, but it boils down to a few key factors. Get clear on where you stand for each of them to make the right choice for you.
Remodeling a house can be less expensive than building a new home in some cases, but not always. It can be wise to spend a particular percentage of your home’s value on the remodel—say, 10%—which can guide your budget. This will help you determine how significantly you’re increasing the home’s value as well.
Furthermore, remodeling often takes less time than constructing a completely new home. A remodeling architect can give you a sense of what the job will cost and the time it will take. However, keep in mind that unforeseen expenses often occur due to undetected issues.
In many cases, you may be able to live in the home while remodeling it, which can save substantial expense. Remodeling contractors can focus on one particular area at a time. That prevents you from having to find other accommodations for the duration of the project, which cuts costs.
Whether you remodel a house or build new will also depend on your chosen design. Consider how flexible you are about what you want the end result to look like. A remodeling architect can tell you whether your design would be feasible with a remodel or not.
If you’re considering remodeling the house you already live in, think about whether the square footage meets your needs. Check on whether local regulations allow you to expand it to fit your desired floor plan as well. If you want a substantially bigger home, building new probably makes more sense.
Building new can allow you to make the home as eco-friendly as possible, from its orientation to the sun to the materials used in construction. If building a new home, you might also be eligible for financial incentives for making energy-saving choices. For instance, the federal government gives tax credits of $2,000 for homeowners who build energy-efficient houses. You can also check for state tax credits, rebates, and financing options.
A newer home can typically sell at a higher price point, so consider your longer-term plans as well. If you think you’ll resell down the road, building a new home could be a worthwhile investment. But if you already own a home that you plan to sell in the not-so-distant future, remodeling it first could make a lot of sense.
That completely depends on the condition of the house being remodeled and whether its square footage meets your needs. Neither is necessarily better. Skilled remodeling contractors can do an excellent job with a remodel.
This depends on the extent of the remodel and the condition of the existing house. Remodeling is often less expensive when the home is a good candidate for remodeling. But if you run into unexpected problems, remodeling costs can potentially climb higher than the cost of new construction.
Remodeling a house involves renovating an existing structure, which can be simple or quite extensive. During a remodel, the contractor may change the layout of the house (for example, taking out walls). In home construction, the contractor builds the house from the ground up.
Remodeling a house can be a good idea if the structure has good bones. Talk with remodeling contractors before making a purchase. They can tell you whether a prospective house is a good candidate for a remodel. Have the home thoroughly inspected before purchase as well, to minimize any surprises.
Deciding on whether to build new or remodel can feel overwhelming. By asking professional remodeling contractors and architects for their input, however, you can make an educated choice. Don’t rely on guesswork to make the decision. Get as much information as you can upfront, and you’ll help ensure the process goes smoothly every step of the way.
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