Pros and Cons of a Knock Down Rebuild

Deciding whether to start from scratch with a lot or a knock down can create a lot of differences in approach to building, with the guide of pros and cons of knock down rebuild. 

One of the project types making more waves here in Canberra of late is the idea of the knock down rebuild.

With property prices at a premium, many people are finding that they can find a home they are not 100% in love with in a location that is simply exceptional. Rather than settling for a less-than-stellar build, they’re looking at the pros and cons of knock down rebuild to create the home of their dreams on the property that they crave.

Just as with other build project approach types, there are a number of distinct benefits, and a few disadvantages, worth noting. In this article, we’re going to take a closer look at the pros and cons of knock down rebuild process and whether it’s right for you.

Knock down rebuild works exactly how it sounds.

Homeowners find a property with an existing structure on it and choose to have a developer knock down the home and rebuild a new one in its place. While this can sound a bit aggressive since the entire structure must be removed, any underground spaces filled in, and the ground completely leveled for new construction to begin, there are a number of advantages to the process.

Location. Location. LOCATION.

Real estate is all about (or at least quite largely about) location. And it can take homeowners some time to find the lot and plot of their dreams in the right locale for their commute, school district preferences, or scenic vistas. However, too often, it can seem near impossible to find what you’re looking for in a home in the location you desire.

So what are the options? One is to take on the task of renovating a property. But when it comes to renovations, many homeowners disdain the idea of living through the mess that comes with updating or reconfiguring their spaces. And even that can leave their home falling short of the mark for a dream home when it comes to layout and orientation.

The other option is to consider a knock down rebuild. In this case, you purchase a lot with a home on it and completely demolish the existing home so that you can start from scratch with a new build. The benefit here is that you get the property and location you want and the flexibility to build the exact home you want in its place.

There are other benefits to a knock down rebuild than just getting the home you want on the lot you own. Here are just a few:

• New homes are more energy efficient and have better build quality than renovations to existing structures.
• Depending on the lot size, you may be able to resituate the home to be more energy efficient or subdivide for alternate use.
• Creating a new home design or working from existing plans can allow you to save on costs compared to structural repairs or upgrades in a renovation.
• Starting with a blank canvas for a build can reduce the number of unforeseen obstacles that can come up compared to a renovation project.
• You may be able to build a new home for cheaper than the renovation costs would allow depending on the size of the home and your needs.
• New homes also depreciate less than existing homes, even when you calculate the equity that a renovation can add.
• Homeowners will not have to worry about new property stamp duty or real estate fees when building a new home on an existing lot.

It’s clear that there are quite a few positives when it comes to the idea of starting with a clean slate for a home build. But there are a few drawbacks with regard to the process that you’ll want to consider as well.

For one thing, the entire home will have to be demolished. And while you might build an eco-friendly home in its place, much of the prior structure will be destined to the trash and landfills. This can also apply to the landscaping surrounding the current structure, which will have to be cleared and leveled in order to make space for the new home. In this case, expect to add landscaping costs on top of your rebuild budget.

Another thing to keep in mind is budget. While you can build a new home based on a predetermined budget when you work with the best knock down rebuild company in Canberra, you will want to make sure that you don’t let fixtures and finishings get out of hand as things progress. Some of the biggest unexpected expenses during a new build process actually come from the homeowners themselves, who get excited during the build and decide to upgrade or adjust different finishes. This can directly impact the bottom line of the project, especially if changes are requested after plans are finalized.

Creating a dream home can be an exciting journey once you know where and how to get started. If you own a lot that is simply perfect but the home you’re in is not meeting the mark, you could be an excellent candidate for knock down rebuild. When it comes to the pros and cons of knock down rebuild, for homeowners with the budget and the patience to wait for it, a new home build is almost always the preferred choice.

The best projects come down to using the best providers, and here at Canberra Home Builders, we have specific experience with knock down and rebuild projects. For over 21 years, we’ve been helping homeowners achieve the homes of their dreams with quality builds that remain on budget and constructed by a quality and experienced team that comes second to none.

For more information about how we would help with your knock down rebuild project, call us on 02 6171 6104. We’ll be happy to provide a free consultation and a no-obligation quote for your project.