The question of renovating or demolishing a house is worth discussing because the difference in costs in various situations can be quite substantial. This is the unfortunate truth of home renovation. It largely refers to renovation being a personalized activity, unique to the individual home that requires a lot of time and labor. New houses can be built quickly, using modern systems and materials that maximize efficiency and save time.
When should you consider REBUILDING instead of remodeling? There is a common misconception that, in a historical sense, remodeling a home is less expensive, which is true if you already own the home. Rebuilding all or part of a home to meet Department of Energy's suggested guidelines, including installing energy-efficient windows, insulation, and appliances, may be the most cost-effective solution, especially if your home is over 75 years old. Because remodeling requires less outside work, there are fewer permits, regulations, and inspections that your home contractor will have to follow or comply with, speeding up your project schedule. If the cost of remodeling your home exceeds the resale value, or if there are lots to build in your ideal neighborhood.
We hope that the guide above will help you decide if renovating, remodeling or demolishing your home and rebuilding is the best option. If you live in a historic home with lots of original details such as ceiling moldings, hardwood floors and antique fixtures, a remodel can allow you to keep the character of your home intact. And it doesn't always make financial sense to look for a stylish kitchen remodel, especially if the budget for the remodel approaches or exceeds the current value of your home.